Finastra Sells UB Core Banking Unit to Pollen Street

Finastra has transferred ownership of its UB core banking division to Pollen Street Capital, the companies announced. The sale covers the UB software platform and the business operations that develop and support it.

The two firms did not disclose financial terms. The agreement includes arrangements for existing customer contracts and staff, subject to applicable transfer processes and employee consultation rules.

Pollen Street Capital, a UK-based private equity firm focused on financial services and fintech, will add the UB division to its portfolio of technology and services providers for banks and other financial institutions. The firm manages specialist financial services businesses as independent companies.

Finastra said the sale aligns with its business priorities and will remove the UB division from its product portfolio. The transaction remains subject to required regulatory approvals and customary closing conditions; no timeline for completion was provided. Both companies said they will work with customers and partners to maintain service continuity during the handover.

The UB platform provides core banking functions used by banks and financial institutions to manage accounts, deposits, lending and payments. Core banking systems support daily operations at banks and typically require long-term vendor support and ongoing product development.

Finastra was formed through a series of mergers and acquisitions and operates a broad portfolio of banking and payments software used by hundreds of financial institutions worldwide. Both Finastra and Pollen Street Capital said they will provide additional details to customers and stakeholders as the transaction progresses.