Private capital asset manager Pauline Street Plans to acquire betterGlobal core banking software business, Global banking (UB), and to support UB when it becomes an independent company.
Pollen Street will provide the investment to UB to help the company accelerate product innovation, enhance customer delivery and expand capabilities, the companies said on Friday (June 19). press release.
The deal is subject to customary regulatory approvals, according to the statement.
Following the transaction, UB will operate as an independent company and will be led by its existing management team, according to the statement.
UB’s core banking technology supports more than 150 customers in more than 100 countries, including global and regional financial institutions, digital banks, Islamic banks and building societies. Cloud-first open banking platform, essenceIt helps financial institutions modernize legacy systems, according to the statement.
The product innovation that Pollen Street’s investment will support includes generative artificial intelligence and data capabilities, the statement said.
Advertisement: Scroll to continue
CEO of Finastra Chris Walters He said in the statement that UB is a strong business and that under Pollen Street, it will have a “dedicated focus and investment to build on that strength.”
Founded in 2013, Pollen Street has built deep capabilities across the financial and trading sectors, and has assets under management (AUM) totaling more than €8 billion, according to the statement.
Anastasia KovalevaUB has a strong foundation, long-standing client relationships, a modern platform and is well positioned for growth in the next phase of core banking,” the Pollen Street partner said in the statement.
“We are excited to partner with the management team to support the next phase of the company’s development, investing in AI-led innovation and helping customers accelerate their modernization journeys,” Kovaleva said.
In addition to giving UB a dedicated focus and investment, this deal will enable Finastra to “tighten our focus on payments and lending – areas where we see significant opportunities to grow and deliver greater value to our clients,” Walters said in the statement.
PYMNTS reported in January 2025 that Walters joined Finastra as CEO That month after serving in financial services companies e.g AvantaxWhere he organized the sale of the company.
Finastra announced in May 2025 sale Its treasury and capital management company, TCM, made the announcement on June 4 sale Its middle market banking business is in the United States.
