Financial services software platform FinPal has announced plans to merge its technologies and services with a similar firm as well as operate under a new name.
Both FinPal and MiiiA provide technology solutions for financial services businesses that leverage Microsoft’s business applications and cloud platform, including Dynamics 365, Power BI, Azure and PowerApps.
FinPal founder and chief executive Stephen Handley said the two businesses share a common history and philosophy, which made the decision to merge an easy one.
He said he is confident the merger will deliver immediate benefits for existing customers and accelerate growth beyond what the two companies would achieve individually.
“There is a growing recognition within the financial services industry that automation of data management is the key to improving both operational efficiency and the customer experience,” Mr Handley said.
“This is exactly what MiiiA’s and FinPal’s systems are designed to deliver. Both businesses have already achieved substantial growth. But in the case of FinPal/MiiiA the whole is very much greater than the sum of the parts.
“And because of the common Microsoft platform, it will be a quick and painless exercise to integrate our product offerings.”
FinPal also announced it will rebrand to Fin365 to coincide with the merger.
Mr Handley said while the timing of the rebrand was impacted by the MiiiA merger, the rebrand had been planned for some time.
“While our current focus remains the Australian financial planning industry, we’ve seen a steady increase in opportunities in the broader financial services space and also outside Australia,” he said.
“We feel the new brand is more reflective of where we’ll be in five years’ time. It also highlights our close connection to Dynamics 365 and Microsoft’s other technologies.”
The merger is expected to be completed by the end of Q3 while the rebrand will be completed by the end of the year.
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