April 5, 2023 — Zafin announced today the divestiture of its capital markets Business, FINCAD, to Numerix. Effectively immediately, FINCAD’s products, services, employees and business assets, have transitioned to Numerix.
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“The decision to divest the FINCAD entity enables Zafin to focus on our core competencies, which further strengthens our position in the market,” said Al Karim Somji, founder and group CEO of Zafin. “In turn, it allows us to better serve our global customers, which will ultimately drive growth and innovation as they modernize and transform their businesses with Zafin’s product and pricing SaaS platform.”
To read more, please read Numerix’s official press release here.
About Zafin:
Founded in 2002, Zafin offers a SaaS product and pricing platform that enables the world’s Leading Banks to transform and modernize their business. With the platform, business users design and manage pricing, products, and packages, while in parallel, technologists simplify their core banking systems. We help banks innovate their offerings to respond to evolving customer needs, while complying with regulatory demands. Headquartered in Vancouver, Canada, with clients and offices around the globe, Zafin processes for over 500 million accounts per day for leading banks, including ING, CIBC, HSBC, PNC, and ANZ.
