Stellex Capital and Communify acquire Fincentric in major financial tech move

Stellex Capital Management and Communify have announced a major acquisition, combining their strengths with Fincentric, formerly known as Markit On Demand. This merger promises to transform financial data communication.

In a strategic move to enhance the financial technology landscape, Stellex Capital Management and Communify have acquired Fincentric, previously branded as Markit On Demand, from S&P Global. This acquisition marks a significant shift in the market, merging Communify’s innovative client communication solutions with Fincentric’s robust digital data distribution services. The new entity, Communify Fincentric, is set to revolutionize how financial institutions handle and communicate market and client data.

A New Era for Financial Technology

The integration of Communify and Fincentric creates a powerhouse in financial data communication. By unifying their offerings, Communify Fincentric addresses the persistent issue of fragmented data sources and suboptimal digital experiences. The merger introduces a comprehensive, digital platform designed to enhance data communication across the financial sector. This platform features a SaaS-based product suite, including Markets Apps, Client Apps, and Advisor Apps, all of which are enriched with advanced AI, automation, and personalization features.

Expanding Market Reach

Communify Fincentric builds on Fincentric’s established presence in the US brokerage and self-directed investor markets. The combined entity aims to expand its reach both domestically and internationally, focusing on the wealth and asset management industries. With a flexible delivery model, Communify Fincentric offers both ready-made products and tailored solutions for large organisations around the globe. This strategic approach leverages Fincentric’s 30-year legacy and extensive client base, including more than half of the top online brokerages in the US, alongside Communify’s design and technology expertise.

Expert Insights on the Acquisition

John Wise, Chairman and CEO of Communify Fincentric, praised the acquisition, highlighting Fincentric’s impressive track record. “We’ve followed Wall Street on Demand to Markit Digital/Markit on Demand to Fincentric over the years for their outstanding ability to create compelling user experiences with complex data sets for investors. Their numbers speak for themselves – their product sees 165 million logins per month and handles over 563 million page views per day while integrating 4,000 unique data feeds. This merger enhances our ability to provide top-tier digital solutions for the financial markets.”

Renee Spampinato, Global Head of Fincentric, expressed enthusiasm about the merger’s potential. “Combining our market data excellence with Communify’s leading client data solutions creates a compelling proposition for the market. The Communify team’s reputation for design innovation and value creation aligns perfectly with our vision.”

Irina Krasik, Managing Director at Stellex Capital Management, added, “Our focus is on pairing strong assets with prominent operators to create value. The JBI team at Communify has demonstrated exceptional capability in growing businesses, making them the ideal partners for this acquisition.”

The merger of Stellex Capital Management, Communify, and Fincentric signals a new chapter in financial technology, promising enhanced data communication solutions and expanded market reach. Communify Fincentric is poised to become a dominant force in the industry, setting new standards for digital financial services.