London-based wealth management software provider Third Financial has acquired the ActiveBank business from Temenos for an undisclosed sum.
The ActiveBank business was part of Financial Objects, which was acquired by Temenos in 2008. The original founders of Financial Objects are the principals behind Third Financial, which was formed in 2008 to provide a new generation of software to the market.
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Third Financial CEO, Stewart Foster, said: "ActiveBank complements our continued growth strategy increasing our client base in the UK and internationally while adding the IPR of ActiveBank to our product range."
Founded in 2007, Third Financial develops and delivers software solutions to wealth and investment management industries. The company’s Tercero Software Platform is regarded as advanced front to back office wealth management systems in the UK and near offshore markets.
Third Financial have offices in Covent Garden, London and a software development centre in the Midlands.
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