Crealogix moves on Middle East with Innofis acquisition
Swiss firm Crealogix has bought 100% of Barcelona-based Innofis – a digital banking supplier for the Middle East.
With the acquisition, Crealogix says it will gain an “established customer base and initiate its presence in an additional territory with high demand and growth potential”.
Crealogix says Innofis’s staff of more than 120 engineers and specialists will join its firm and will continue to be led by the existing management team.
David Moreno, CEO and founder of Innofis, will become a member of the executive group management of Crealogix and will also continue to be responsible for the Middle Eastern market.
Due to the acquisition, Crealogix adds that its digital banking hub will be complemented by several new modules.
These include predictive analytics based on big data and including segmentation according to customer behaviour or the calculation of propensity to purchase; and a Software-as-a-Service (SaaS) based digital loyalty programme.
In addition, it says it will get a suite of specific modules for Islamic banking and functionality for business banking (for SME and corporates).
Innofis is a self-financed and privately held company and was founded in 2012. Its clients include NCB (National Commercial Bank) and the Al Rajhi Banking Corporation.
Last year, Crealogix bolstered its artificial intelligence (AI) and machine learning capabilities with the acquisition of new technology from Koemei.
By the way, in the Banking Technology Awards 2017, Crealogix won the Editor’s Choice Award for best digital channels banking system provider.
