Numerix has obtained FINCAD, an analytics firm, from Zafin, a supplier of software services for worldwide financial institutions.
The collaboration between Numerix and FINCAD will join two of the most notable independent suppliers of analytics for the capital markets. Both are vastly used by a variety of customers in the capital markets, such as investment banks, and insurance firms.
Many financial companies worldwide are utilizing the analytics and software-as-a-service platforms provided by Numerix.
President and CEO of Numerix, Steven R. O’Hanlon, said:
Bringing together Numerix and FINCAD is a significant moment for all capital markets participants. Analytics are the differentiators in terms of making the right investment decisions. This combination is a game changer for the industry, allowing Numerix clients to use the most robust front-to-risk decision making software with their choice of best of breed analytics. While both companies started at a similar point in time but took on servicing different segments of the market, it has become clear to me through the process that FINCAD shares a similar DNA to Numerix. This is a natural fit and I am very excited about the opportunities that lie ahead.
CEO of Zafin, Al Karim Somji, commented:
Zafin has over the past year worked closely with the FINCAD team to ensure they are set up for growth with successful executions of revamped product and customer success strategies and Numerix now provides FINCAD an excellent avenue to realize their full potential. I want to thank the FINCAD team for their dedication and commitment and wish them all success as part of Numerix while enabling Zafin to continue its focus on empowering global financial institutions as they accelerate their efforts to modernize and transform their business with Zafin’s Product and Pricing SaaS platform.
Read more: Citi Joins eFX Trading on Velocity 3.0 | Brokers Times
