Informa Financial Intelligence Unifies FBX Business with Novantas, Inc., Enabling Financial Institutions to Make More Profitable, Data-Driven Decisions Faster
Informa Financial Intelligence, a leading provider of solutions for financial services professionals, has announced the completion of an agreement to combine its FBX business with Novantas, Inc., a preeminent fintech provider of advanced decision support systems and data to the banking industry, following US regulatory approval.
The business is established to help financial institutions increase their effectiveness in acquiring, retaining and growing profitable customer relationships. Combining the businesses offers unprecedented access to comprehensive market and competitive data and analytics, connected behavioural insights, proven decision support tools and optimized omnichannel customer engagement, Informa Financial Intelligence said in a press release.
Craig Woodward, current President of Informa Financial Intelligence, is becoming CEO of the combined business and a member of its newly established Board. Woodward will provide the strategic vision of the business, advancing its growth and development and overseeing an executive leadership team that will manage daily operations. Mark Greene, former CEO of FICO, brings decades of experience in leadership and executive positions in the banking industry and has been appointed to serve as Chair of the Board, effective immediately.
“We're thrilled to build this new entity with Novantas and the support of our partners at Inflexion. Our clients are our priority, and this combination provides a natural synergy for their benefit,” said Woodward. “Together we offer more comprehensive data solutions and digital banking and pricing capabilities with broader reach, which is especially important in an evolving banking market. The integration process is underway and we're eager to share additional information as we finalize details over the next few months.”
“I'm beyond excited to join this new business with the endless possibilities it offers our clients and the distinctive capabilities that drive growth and provide a competitive advantage,” Greene said. “FBX and Novantas are complementary, client-first businesses with a consistent track record of innovation and a proven ability to remain nimble and scalable throughout any market environment.”
In addition to serving as the former CEO of FICO, Greene was previously CEO of OpenLink and General Manager of IBM's global banking business. He currently serves on the board of Straive, Harris & Harris and National Credit Care.
The business will be the newest subsidiary of Informa plc (LSE: INF), independent of Informa Financial Intelligence. Informa plc will maintain majority ownership with Novantas and mid-market private equity firm, Inflexion, each holding significant minority interest as investors in the business.