CREALOGIX, the Leader in Digital Banking Solutions will acquire 100% of the Barcelona-based Innofis – a well-established digital banking supplier for the Middle East, serving leading banks of the region.
With the acquisition, CREALOGIX will gain an established customer base and initiate its presence in an additional territory with high demand and growth potential for digital banking solutions.The acquisition will complement the current solution portfolio in digital banking and accelerates CREALOGIX's position as a leading global player for digital banking.
The Barcelona based Innofis is a self-financed and privately held company with international focus, founded in 2012 in order to provide customer centric digital solutions to Financial Services organizations. Clients include top tier Middle East banks as NCB (National Commercial Bank), or the Al Rajhi Banking Corporation. Innovation was a key component for its continuous double-digit growth. Innofis is highly profitable and today generates over CHF 10 million of revenue.
Innofis's staff of more than 120 highly qualified engineers and specialists will join CREALOGIX and will continue to be led by the existing management team.
"As a result of the new, joint offering from Innofis and CREALOGIX, we will remain a reliable partner for our clients and will support them in their digitization initiatives, with a broader set of innovative, ready-to-use solutions", says David Moreno, CEO and Founder of Innofis, who will become a member of the Executive Group Management of CREALOGIX and will also continue to be responsible for the Middle Eastern market.
There are optimal synergies between the mutually complementary product portfolios due to the shared technology foundations, and many modules can be integrated interchangeably, thanks to the use of modern open architecture based on micro-services and state-of-the-art deployment methods.
This move will allow existing and future customers to benefit from an even broader range of digital offerings from a single source. Due to the acquisition, CREALOGIX Digital Banking Hub will be complemented by a large number of innovative new modules, such as
- Predictive Analytics based on big data and including segmentation according to customer behavior or the calculation of propensity to purchase
- Advanced online campaign management including features as geo-marketing
- SaaS based digital loyalty program
- A comprehensive suite of specific modules for Islamic banking
- Extensive functionality for business banking (for SME and corporates)
"The acquisition underpins our strategic objectives by strengthening our market-leading digital banking offering, extending our international reach and establishing a material presence in the Middle East", says Thomas Avedik, CEO of the CREALOGIX Group.