- Budapest, Hungary-based digital banking solutions company Finshape has completed its acquisition of loyalty platform Realtime-XLS.
- The acquisition will enhance Finshape’s expertise in customer loyalty with the addition of 60 new specialists, as well as expand the firm’s reach geographically.
- Finshape made its Finovate debut at FinovateEurope 2023 in London.
Digital banking solutions provider Finshape has completed its acquisition of loyalty platform Realtime-XLS. Finshape bought the company from the Collinson Group and it represents Finshape’s first acquisition of a global product company. Terms of the transaction were not disclosed.
There’s a lot to like in the move. The acquisition will boost Finshape’s expertise in the field of customer loyalty, giving the company 60 new specialists. The deal will also enable Finshape to extend its geographic reach courtesy of new offices in France and Singapore, and bolster its relationships with major banks in the UAE, Australia, Indonesia, and Singapore. In total, Finshape will consist of nearly 600 professionals supporting millions of end users across 100 banks around the world.
“This acquisition is a strategic milestone on our mission to transform the way banks serve their customers by unlocking the full potential of people and technology,” Finshape CEO Petr KoutnĂ˝ said.
Integrating the Realtime-XLS solution will give Finshape’s Digital Bank Operating System (DBOS) advanced loyalty capabilities, enabling banks to reward customer behavior, boost customer engagement, and generate additional revenue via cross-sell and up-sell opportunities. This will increase customer lifetime value, help banks secure a larger share of wallet, and make growth more sustainable.
“The loyalty solution will now form an integral part of our growing, customer-centric digital banking portfolio,” KoutnĂ˝ added. “Seamlessly integrated into our DBOS platform, it enhances the value we deliver by enabling banks to offer hyper-personalized experiences and build deeper, more meaningful relationships with their customers.”
Headquartered in Budapest, Hungary, Finshape won Best of Show for its demo at FinovateEurope 2022. At the event, the company showed how its platform combines digital banking and deep personalization capabilities to help financial institutions boost digital engagement, loyalty, and sales—especially among their micro- and small business customers. The company was formed in 2021 when Czech Banking Software Company (BSC) merged with Hungary’s W.UP (a three-time Finovate Best of Show winner).
JenĹ‘ Nieder, Deputy CEO at PortfoLion Capital Partners, the majority owner of Finshape that helped finance the merger between BSC and W.UP, praised the transaction as “perfectly aligned with the buy-and-build strategy” conceived when Finshape was founded. “This transaction not only incorporates a new loyalty platform but also adds new capabilities and true global coverage to an already strong company,” Nieder said.
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