Cognizant acquires Meritsoft 05 March 2019New Jersey Reporter: Becky Butcher
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Cognizant has acquired Meritsoft, a Dublin-based regtech, tax, post-trade and data analytics platform.
Meritsoft is best known for its FINBOS platform for post-trade processing, an intelligent automation solution for managing taxes, fees, commissions, and cash flow functions between financial institutions.
Sean Middleton, president, Cognizant Accelerator, said: “Increased compliance and regulatory obligations, focus on operational efficiency, and a range of new digital technologies are among the forces that have led many of the world’s leading financial institutions to automate processes using Meritsoft and its FINBOS platform.”
Kerril Burke, co-founder and CEO, Meritsoft, added: “By becoming part of Cognizant, Meritsoft will have access to Cognizant’s knowledge, resources and scale to accelerate growth as we continue to innovate on the FINBOS platform for post-trade solutions.”
Financial details of the transaction were not disclosed.
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