The gateway into the Middle East - CREALOGIX acquires Innofis
Source: PRNewswire , Author: Posted by BI-ME staff
Posted: Fri January 12, 2018 10:54 am

UAE.  /PRNewswire/ --CREALOGIX, the Leader in Digital Banking Solutions acquires 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.

The CREALOGIX Group is an independent Swiss software provider and, as one of the Fintech Top 100 companies, it is a market leader in digital banking in Europe. CREALOGIX develops and implements innovative Fintech solutions for the digital banking of tomorrow.

Using CREALOGIX solutions, banks can react to evolving customer needs in the area of e-banking, enabling them to hold their own in a very demanding and dynamic market and to remain one step ahead of their competitors. The group, founded in 1996, has around 420 employees worldwide. CREALOGIX Holding AG (CLXN)'s shares are traded on the SIX Swiss Exchange.

About Innofis
Innofis is a global provider of multichannel digital banking platforms. Every day, millions of retail and corporate banking clients are served by the Innofis platforms. The company's clients are top-tier international banks who appreciate the stability, control and innovation that the digital platforms provide. Innofis offers an attractive modular approach to digital technology which allows banks to invest and grow according to their needs.

Disclaimer: The above press release contains future-oriented statements, that may be subject to certain unforeseeable risks, uncertainties and changes that are beyond the control of Innofis and CREALOGIX Holding AG. Innofis and CREALOGIX Holding AG can therefore not provide any assurances in relation to the accuracy of these future-oriented statements, their effect on the financial situation of CREALOGIX Holding AG or on the market in which CREALOGIX Holding AG shares and other securities are traded.

Photo: for illustrative purposes only (File photo)



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