Axway, a global integration and API management company, has today, for a very visible strategic purpose, purchased the well-established player in the digital banking market – Sopra Banking Software. This acquisition represents a significant increase in the financial services business unit within Axway, which prepares the company for existing market dynamics.
Expanding Financial Services Offerings
Sopra Banking Software has come up as one of the major partakers in the fintech industry enabling banks and other financial institutions in their evolution into the digital era. Core banking and other supporting systems with emphasis on digital channels, payment methods and compliance management systems to assist banks with the digital economy.
Growing Axway’s Addressable Market
The new exposure to the market is one of the favorable attributes of this acquisition for Axway. Medical device manufacturer Axway has completed this acquisition due to Sopra Banking Software’s large client portfolio, which includes some of the world’s biggest banks. This extended reach means that Axway will now be able to sell its products and services to an even wider range of customers, thus assisting more organizations as they seek to enhance their digital transformation.
Leveraging Technology to Enhance the Banking Experience
The acquisition comes just as the global banking sector is undergoing tremendous changes. Banks are becoming increasingly technology-driven in an effort to enhance customer service, increase operational efficiency, and conform to regulations. With the addition of Sopra Banking Software’s solutions, Axway is well positioned to meet these demands in a strengthening business such as expansion.
The Detailed Report
Completeness of the acquisition is a fresh beginning for Axway and Sopra Banking Software. For Axway, it is another step in the right direction to find its place in the financially serviced markets and compete within the offerings of this market segment. For Sopra Banking Software, it opens the way to a host of new technologies and equipment thanks to which they can keep offering their ingenious solutions to the customers.
Sopra Banking Software and Axway will change the way the banking landscape looks and help banks embrace the challenges posed by the digital onslaught. This acquisition reinforces Axway’s dominance in the digital banking value chain and prepares the company for expansion and innovation in the future.
