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NEW YORK, June 3, 2021 /PRNewswire/ -- Informa Financial Intelligence, a leading provider of solutions for financial services professionals, today announced the completion of an agreement to combine its FBX business with Novantas, Inc., a preeminent fintech provider of advanced decision support systems and data to the banking industry, following U.S. regulatory approval.
The business is established to help financial institutions increase their effectiveness in acquiring, retaining and growing profitable customer relationships. Combining the businesses offers unprecedented access to comprehensive market and competitive data and analytics, connected behavioral insights, proven decision support tools and optimized omnichannel customer engagement.
Craig Woodward, current President of Informa Financial Intelligence, is becoming CEO of the combined business and a member of its newly established Board. Woodward will provide the strategic vision of the business, advancing its growth and development and overseeing an executive leadership team that will manage daily operations. Mark Greene, former CEO of FICO, brings decades of experience in leadership and executive positions in the banking industry and has been appointed to serve as Chair of the Board, effective immediately.
"We're thrilled to build this new entity with Novantas and the support of our partners at Inflexion. Our clients are our priority, and this combination provides a natural synergy for their benefit," said Woodward. "Together we offer more comprehensive data solutions and digital banking and pricing capabilities with broader reach, which is especially important in an evolving banking market. The integration process is underway and we're eager to share additional information as we finalize details over the next few months."
"I'm beyond excited to join this new business with the endless possibilities it offers our clients and the distinctive capabilities that drive growth and provide a competitive advantage," Greene said. "FBX and Novantas are complementary, client-first businesses with a consistent track record of innovation and a proven ability to remain nimble and scalable throughout any market environment."
In addition to serving as the former CEO of FICO, Greene was previously CEO of OpenLink and General Manager of IBM's global banking business. He currently serves on the board of Straive, Harris & Harris and National Credit Care.
The business will be the newest subsidiary of Informa plc (LSE: INF), independent of Informa Financial Intelligence. Informa plc will maintain majority ownership with Novantas and mid-market private equity firm, Inflexion, each holding significant minority interest as investors in the business.
About Informa Financial Intelligence
Financial Intelligence, part of the Informa Intelligence Division of Informa plc, is a leading provider of products and services helping financial institutions around the world cut through the noise and take decisive action. Informa Financial Intelligence's solutions provide unparalleled insight into market opportunity, competitive performance and customer segment behavioral patterns and performance through specialized industry research, intelligence, and insight. For more information, please visit https://financialintelligence.informa.com.
About Financial Benchmarking & Omnichannel Experience (FBX)
Financial Benchmarking & Omnichannel Experience (FBX), a subsidiary of Informa plc (LSE: INF), provides bank peer benchmarking services, banking workflow solutions and omnichannel banking experience research services to retail banks worldwide. FBX, part of Informa Financial Intelligence, brings together competitive performance data and customer journey research to provide a comprehensive assessment of a competitive position. Through a synchronized view, FBX provides targeted information to identify key levers for improving relative performance. For additional information, please visit https://financialintelligence.informa.com/fbx.
About Novantas, Inc.
Novantas, a leading fintech provider of advanced decision support systems and data, provides financial institutions licensed offerings such as cross-bank data, predictive scoring and advanced analytics. Serving hundreds of the world's largest banking institutions, Novantas delivers solutions that allow clients to be precise, nimble and economic as they transition their customers into a digital work. With focus on providing products that improve each bank's ability to target and acquire customers, increase customer relationship value, optimize rate pricing and volume, improve distribution network efficiency, launch new products more profitable and accelerate digital transformation, Novantas delivers actional intelligence on customers deposits and markets. For additional information, please visit www.novantas.com.
About Inflexion
Inflexion is a leading mid-market private equity firm which invests in high growth, entrepreneurial businesses with ambitious management teams and works in partnership with them to accelerate growth. Inflexion's flexible approach allows it to back both majority and minority investments, typically investing £10m to £300m of equity in each deal.
With bespoke teams and dedicated capital, Inflexion's funds invest across a variety of sectors from offices in London, Manchester and Amsterdam. Inflexion helps businesses achieve the next stage of growth through M&A, international expansion, digital enhancement, talent development, commercial strategy, and access to Inflexion's global networks. It also benefits from a local presence in Bangalore, Boston, São Paulo and Shanghai dedicated to portfolio development, enabling investee companies to benefit from privileged access to these fast-growth markets.
Inflexion is one of Preqin's most consistent Top Performing Buyout Funds and is a regular recipient of industry accolades for its success in growing the businesses it backs.
Funds advised by Inflexion Private Equity Partners LLP have funds under management of c.£5.4bn.
Read more at www.inflexion.com.
MEDIA CONTACT:
Zach Allegretti, JConnelly
973-850-7341
zallegrettiII@jconnelly.com
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