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Finastra acquires provider of digital solutions to community banks

Finastra Group Holdings Ltd., a U.K.-based financial technology company, has acquired Malauzai Software Inc., a provider of mobile and internet banking solutions for community financial institutions.

Financial details of the deal were not disclosed.

Finastra has had a partnership with Malauzai under which Malauzai's digital solution was integrated into Finastra's Fusion Phoenix core banking system. The companies have served more than 130 joint customers since 2015.

Krall & Co. Inc. advised Malauzai on the transaction.