pills

Banking & Payments DECODED

Previous edition: 14 May 2024
Share article

Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now

Synechron acquires Australia-based iGreenData

Global digital transformation consulting firm, Synechron, has acquired Melbourne-based data-centric digital solutions company, iGreenData. Founded in 2018, iGreenData specialises in cloud-enabled data and digital engineering.

The company serves a diverse array of blue-chip clients. It has high domain expertise in the banking and financial services sectors, along with strengths in full-stack, DevOps, cloud, data engineering, automation, and blockchain.

The acquisition of iGreenData was completed on 13 May, 2024.

iGreenData: specialised skills in cloud technology and lean data engineering practices

According to Synechron, the deal enhances its leadership in digital transformation. Specifically, it will combining its agile, creative approach with iGreenData’s specialised skills in cloud technology and lean data engineering practices.

The integration adds to Synechron’s capabilities in delivering customised solutions that achieve substantial business outcomes, while continuing to swiftly and effectively meet their clients’ evolving needs.

Moreover, the acquisition expands Synechron’s global reach. By leveraging Australia’s strategic location, Synechron will provide continuous support across time zones in Asia, the Americas, and Europe.

In 2020, Synechron acquired Attra, a payments technology services and solutions provider headquartered in Melbourne. Attra is now Synechron Payments and last year, Synechron said that Attra had achieved 62% growth since its acquisition.

Faisal Husain, Synechron co-founder and CEO, said: “We’re thrilled to welcome iGreenData into the Synechron family. This acquisition will enable us to continue deepening our technological strength and expand our footprint to the Australian market. Together, we will leverage our combined expertise in digital transformation and innovation to deliver value-added solutions that meet the evolving needs of our clients.”

Max Sundaram, iGreenData Co-founder and CEO, added, “We’re very excited to become part of the Synechron team. With their global reach and our shared commitment to excellence, we’re well positioned to provide the best-in-class transformative digital experiences.”

Latest news

Q&A: Mitek and why soaring fraud remains dangerous in financial services

A new study conducted by Mitek Systems has unveiled a stark reality for the global financial services sector in which 76% of banks surveyed believe that fraud cases and scams have grown more sophisticated.

Tide launches business financial platform in Germany

UK business financial platform, Tide, has launched its first product in Germany, a free current account aimed at small businesses. Germany represents Tide’s third market following the UK and India, where it successfully launched in December 2022.

Presidents Choice Financial selects Temenos to expand banking business

Presidents Choice Financial, the financial arm of Loblaw, has selected Temenos to extend its reach into the Canadian banking market. Loblaw is the largest grocery retailer in Canada with a market share of almost 30%.

Payment cards continue to dominate Taiwan e-commerce market, reveals GlobalData

Payment cards remain the preferred payment method for online purchases in Taiwan (Province of China), collectively accounting for 53.6% share in total e-commerce payments in 2023, reports GlobalData, publishers of EPI.

Napier AI and Salt Bank partner in Romania

Napier AI is to become the new anti-money laundering (AML) platform for Salt Bank, the first Romanian neobank. Napier AI provides its Transaction Screening product in a cloud environment, to Salt Bank. The solution will enable Salt Bank to handle 100s of millions of transactions easily.

Worldline partners with Visa to launch virtual card issuing solution for online travel agencies

Worldline has announced a partnership with Visa to launch a new virtual card issuing solution. The project will focus on the online travel agency (OTA) market due to a high demand for this solution and Worldline’s strong heritage and portfolio in travel. By combining the parties’ acceptance networks and seamless payouts, the virtual card issuing solution will streamline cash flow for OTAs.

Broadridge to acquire Kyndryl's Securities Industry Services wealth and capital markets technology platform

Global fintech Broadridge Financial Solutions is to acquire Kyndryl's Securities Industry Services (SIS) wealth and capital markets technology platform. SIS solutions include clearing and settlement, account record keeping, tax and regulatory reporting, and integrated order management activities for Canadian financial services firms. Kyndryl intends to partner with Broadridge Canada by providing managed services and capabilities to SIS.

Tackle future disruption with thematic intelligence 

Navigate the key forces shaping your industry – from AI to ESG, we have all the insights you need to guide your decision making.    

Book a Demo

Newsletters in other sectors

Aerospace, Defence & Security

Malaysia strengthens defence with $1.5bn contracts
14 May 2024

Explore our market-leading Intelligence Centers

Still looking?

Search companies, themes, reports, as well as actionable data & insights spanning 22 global industries

Explorer

Access more premium companies when you subscribe to Explorer