The Lenzburg-based banking software maker Finnova has acquired Swiss fintech Contovista with a retroactive effect from January 1, 2022. Finnova reached an agreement with current owner Viseca to acquire 100% of Contovista‘s shares. No purchase price was disclosed, according to the statement. Finnova wants to strengthen its data analytics expertise and portfolio with this acquisition.
Contovista was founded in 2013 and has evolved from a first-mover into the Swiss leader in data-based banking. Its white-label software and its data and analytics solutions can be integrated into existing banking systems. More than five million bank clients now use the Contovista solution via their partner banks, including Cantonal Banks of Zurich and Aargau, Raiffeisen, and Valiant Bank. Finnova has been a Contovista partner for several years.
Finnova CEO Hendrik Lang says, “We are extremely pleased to be gaining Contovista’s employees. Their knowledge will enable us to further expand our data-driven banking operations. The merger brings us 50 employees dedicated to developing innovative data analytics solutions for our customers.“
The Contovista employees will all be taken over and merged into a new division with the Finnova team. Contovista is based in Schlieren near Zurich. This will be the 5th Finnova location, in addition to Lenzburg, Seewen, Chur and Nyon. The company writes that it has “already implemented the new-work approach” and allows employees to work flexibly from any location.