Communify, Stellex Capital Acquire Fincentric From S&P Global

KUALA LUMPUR, Aug 16 (Bernama) -- Communify, a company owned by Just Build It (JBI), in partnership with Stellex Capital Management, have acquired S&P Global’s Fincentric (formerly known as Markit On Demand) to provide digital experiences, financial data distribution and other solutions.

The acquisition integrates Fincentric with Communify's existing client communication, automation, and management business for the global wealth and asset management industries to form Communify Fincentric.

Communify Fincentric Chairman and Chief Executive Officer, John Wise said unifying Fincentric's market data capabilities with Communify's expertise in client data created a strong digital partner for the financial markets.

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“Our shared client-centric, design-centric mindset will be pivotal as we look to grow Communify Fincentric domestically and worldwide,” he said in a statement.

The newly formed Communify Fincentric represents a significant leap forward in financial technology, addressing the industry’s long-standing challenge of disjointed data sources and subpar digital user experiences.

By unifying market and client data communication, Communify Fincentric offers a comprehensive, on-brand, digital platform for any financial institution through an immediately available Software as a Service (SaaS)-based product suite.

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Building on Fincentric's strong presence in the United States (US) brokerage and self-directed investor markets, Communify Fincentric is poised for both domestic and international expansion, with a focus on serving the broader wealth and asset management industries.

The company's reach is made possible by a flexible delivery model, offering both off-the-shelf products and customised solutions for large organisations worldwide.

Communify Fincentric will combine Fincentric's 30-year legacy, which includes serving more than half of the top online brokerages in the US, with Communify's cutting-edge design & technology expertise, in an effort to create a powerhouse in financial data communication and management.

-- BERNAMA