Powered by MOMENTUM MEDIA
subscribe to our newsletter

Fintechs merge to help meet changing customer needs

Cloud-based business management software providers FinPal and MiiiA have announced plans to merge their technologies, with FinPal rebranding to Fin365 by the end of the year.

Both FinPal and MiiiA provide business and client relationship management (CRM) services for financial services businesses and utilise Microsoft business applications, such as Dynamics 365, Power BI, Azure and PowerApps.

According to FinPal founder and CEO Stephen Handley, the decision to merge with MiiiA was “obvious”, given that the two companies share a similar history and philosophy.

“MiiiA’s history bares eerie similarities to our own. They were born within a financial services business that was frustrated with the limitations of legacy financial planning software systems. They recognised the need for a real CRM and so built their own on top of Microsoft’s Dynamics...

“[MiiiA’s] understanding of the link between data management and business improvement, choice of Microsoft as a platform, and heavy focus on the user experience aligns perfectly with FinPal’s philosophies,” Mr Handley said.

Advertisement
Advertisement

He added that both fintechs currently cater to the “growing” need within the financial services industry for data management automation, and that “both businesses have already achieved substantial growth” in doing so.

“But in the case of FinPal/MiiiA, the whole is very much greater than the sum of the parts,” Mr Handley said.

“And because of the common Microsoft platform, it will be a quick and painless exercise to integrate our product offerings.”

MiiiA CEO Daniel Hesketh added that the merger provides the company with certainty for its current customers, as well as opportunities for growth in other industries.

“Over the past 12 months, we’ve seen an increasing demand for our services from other industries,” Mr Hesketh said.

PROMOTED CONTENT


“Merging with FinPal will ensure our financial services customers’ future needs are met, while allowing us to explore similar opportunities in other industries under the MiiiA brand.”

The merger is expected to be completed by the end of Q3.

Rebrand to Fin365

FinPal also announced that its plans to rebrand to Fin365 will continue forward, with the new brand expected to launch to market by the end of the year (following the merger).

According to Mr Handley, the rebrand has been planned for some time; however, the merger with MiiiA provided the appropriate time to do so.

“While our current focus remains the Australian financial planning industry, we’ve seen a steady increase in opportunities in the broader financial services space and also outside Australia,” Mr Handley said.

“We feel the new brand is more reflective of where we’ll be in five years’ time.

“It also highlights our close connection to Dynamics 365 and Microsoft’s other technologies,” he said.

[Related: FinPal gains financial backing]

Fintechs merge to help meet changing customer needs
mortgagebusiness

Are you a new-to-industry broker in the process of growing your business? Then there’s some great news: The Adviser’s New Broker Academy is back in 2021 and will provide you with essential insights into cutting-edge tools, strategies and processes to fast-track to success. Don’t miss your chance to attend. To secure your FREE place, visit newbroker.com.au now!

Hannah Dowling

Hannah Dowling is a journalist for mortgage business, the leading source of news, opinion and strategy for professionals working in the mortgage industry.

Prior to joining the team at Mortgage Business, Hannah worked as a content producer for a podcast catering to property investors. She also spent 6 years working in the real estate sector at a local agency. 

Hannah graduated from Macquarie University with a Bachelor of Media and Journalism. 

You can email Hannah at: This email address is being protected from spambots. You need JavaScript enabled to view it.

Latest News

The RBA has announced its August rate decision as ongoing lockdowns dampen speculation about imminent rate rises. ...

The CEO of a customer-owned lender has warned that mutual banks that do not have scale and financial strength will be ‘unsustainable’ i...

Two more major banks have signalled both permanent and partial closures in their branch networks. ...

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

How long do you think it should take to discharge a mortgage?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.