Canadian SaaS fintech Zafin announces strategic leadership transition
Zafin, a Canada-based provider of Software-as-a-Service (SaaS) core modernisation and transformation solutions for banks and credit unions, has announced a strategic leadership transition which will see Al Karim Somji step down as company CEO after more than two decades in the role.
New Zafin CEO Charbel Safadi (Image: LinkedIn)
Somji, who also founded the company in 2002, will remain as a member of Zafin’s board of directors, offering support to the company’s new CEO, Charbel Safadi, who assumes the role with immediate effect.
Having served as group president of Zafin for the last five months, the company says Safadi possesses a “comprehensive understanding of Zafin’s operations and culture” and is therefore “ideally positioned” to propel the enterprise into its “next phase of growth and success”.
Before his tenure at Zafin, Safadi ascended through the ranks at tech giant IBM, where he most recently held the role of senior partner and business transformation services leader for IBM Canada. Additionally, he served as chief technology officer (CTO) for IBM iX, the company’s digital experience consultancy and design studio.
Headquartered in Vancouver, Zafin delivers a SaaS product and pricing platform tailored to assist banks and credit unions in streamlining and customising their core modernisation initiatives.
2024 has proven to be eventful for Zafin, with this leadership transition swiftly following its acquisition by Swedish private equity firm Nordic Capital in February.
