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Finastra sold its Universal Banking (UB) global core banking software business to UK private equity firm Pollen Street Capital. Financial terms of the deal were not disclosed. The sale offloads a major product line from the financial technology company.
First Commerce Bank, a $1.8B-asset New Jersey community bank, selected FIS as its core banking platform. The AI-ready system gives the bank a modern foundation to compete on technology with national banks and digital-first challengers.
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