Finastra: Expediting Small Business Relief
With the recent passing of the Coronavirus Aid, Relief and Economic Security Act, the Paycheck Protection Program has been flooded with applications. This program is critical for small business owners struggling to pay salaries, rent and other costs of doing business during the pandemic. To help companies claim their loans from the $350 billion disbursement, Finastra has launched a self-service application tool. This tool provides automated transmission to the Small Business Administration’s E-Tran portal for its customer – banks and credit unions.
Finastra’s new solution enables small business owners to streamline and expedite the loan documentation and closing process through their financial institutions, helping to get these funds into their hands as quickly as possible. With new information from the government announced almost every day, Finastra is continuously updating its website with product and legislative changes to keep its customers updated with essential information for borrowers.
See How Finastra Is Supporting Small Businesses.
Year of Investment: 2012
Portfolio Status: Current
Supporting 90 of the Top 100 Banks Globally
Global financial software solutions including retail banking, transaction banking, lending, and treasury and capital markets capabilities.
Finastra is the third largest financial services technology company in the world, providing a broad portfolio of banking, capital markets, investment management and risk solutions to the financial services industry. The Company’s corporate banking, retail banking, investment management, managed services, and treasury and capital markets solutions enable customers in financial services to deploy mission-critical technology that allow them to improve operations and mitigate risks. Finastra serves more than 9,000 customers in 130 countries, including 48 of the top 50 banks globally.
Finastra is headquartered in London, United Kingdom, with operations worldwide.
Vista Equity Partners completed a take-private of Misys plc in June 2012 and subsequently combined Misys with Turaz, the former trade and risk management business of Thomson Reuters acquired by Vista Equity Partners in January 2012, to form one company officially operating under the name “Misys.” Misys completed a take private of D+H in June 2017. The combined businesses are now one company operating under the name Finastra.