Fintech giant Finastra launches centre of excellence with focus on banking at Hong Kong’s Cyberport
Vista, Finastra’s owner, is targeting more acquisitions in Hong Kong and the mainland
Financial technology giant Finastra launched a “centre of excellence” focusing on the future of banking in Hong Kong’s Cyberport on Tuesday.
Robert Smith, the chief executive of Finastra’s parent, private equity fund Vista, said the new centre would not only provide a way of presenting Finastra’s technology to potential clients, but also be a means by which Vista can identify new businesses in which it could invest.
Vista, which has US$30 billion under management, invests in companies in the enterprise software industry, and its firms employ 10,000 staff members in Asia.
“At the centre, we will see 200 to 300 new companies in the area of fintech, which no one else will have a look at, and we can see how they could get involved with our ecosystem, either as partners or as acquired companies,” said Smith, also Vista’s founder and chairman.
Vista is an active acquirer, and Smith said it had acquired just over one company a week in 2017.
He also has ambitions for some bolder targets.
