Thiruvananthapuram, January 27, 2022: Technopark based IT firm Zafin Technologies, the world’s leading SaaS cloud-native product and pricing platform for banks and credit unions, announced it has acquired FINCAD, a global leader in pricing and risk analytics of financial derivatives and fixed income products. By acquiring Canada based FINCAD, Zafin expands its product portfolio and analytics capabilities to become one of Canada’s largest B2B fintech companies with significant global presence including more than 450 institutional clients, over 60 ecosystem partners, and more than 500 employees spread out across 13 global offices.
Al Karim Somji, Founder and Group CEO of Zafin, said: “As we look to further accelerate our global growth and enhance our end-to-end pricing and analytics offering to the marketplace, this move into the Capital Markets space is a key step. FINCAD naturally stood out to us given their impressive track record of being the leading provider of derivative analytics and pricing with a strong team that delivers for some of the world’s most trusted institutions. Working together as one global team, there is tremendous opportunity for us to scale our business by sharing deep subject-matter expertise and talent in key areas such as pricing, risk analytics and cloud technology. I believe with this strategic acquisition we’re truly going to disrupt the industry and set a new standard for how institutions can partner with fintechs like Zafin and FINCAD to deliver powerful product, pricing and advanced analytics solutions.”
Backed by a career in the capital markets, Christian Kahl, Head of Product Strategy and Client Service at FINCAD, will become Interim President, Capital Markets at Zafin. FINCAD Analytics leader and current Head of Product Development, Russell Goyder will become Chief Analytics Officer of Zafin. Both Kahl and Goyder will report to Al Karim Somji, Founder and Group CEO of Zafin.
FINCAD is a leader in providing derivative and fixed-income pricing, modeling, and risk analytics to many of the world’s banks, asset management firms, insurance companies and hedge funds. For Zafin, the acquisition is a key milestone in the company’s history as they will now be able to offer pricing and advanced analytics solutions to institutions across all segments of banking, including retail, corporate and commercial, and capital markets – a key differentiator in the marketplace. As a result of the transaction, FINCAD will operate as the Capital Markets Group of Zafin under the established FINCAD brand.
