FOCONIS acquires software provider for banking sector GenoData

With the support of Main Capital, FOCONIS AG, a leading German software provider in the banking segment announces the acquisition of GenoData, a provider of data/ process management, and business intelligence for the banking and finance sector in Germany. The company will be 100% part of the FOCONIS Group. GenoData and FOCONIS are a natural fit due to GenoData’s complementary products, customers, and strategy. The company is a crucial building block in FOCONIS’ strategy to become a leading software provider for data management and BI solutions for banks and other financial service companies.

GenoData, founded in 1992 and headquartered in Landau ((Rheinland Pfalz), is a medium-sized IT service company for cooperatives and the financial sector. The company maintains a modularly designed product range around data and process management as well as business intelligence. GenoData sees itself as an application provider for challenges that the institutes cannot solve with data center standards. The company’s customers benefit from the tried and tested modular system GDix for data management, networking and interpretation. A decisive advantage lies in the close coordination between the data supply and the interfaces to the core bank application. The CEO Bernd Frese will stay on board and work together with Main Capital Partners to accelerate GenoData’s growth.

An all-encompassing, one-source solution

The FOCONIS Group strengthens its position as a strong, reliable and experienced partner in providing specialized solutions for a rapidly evolving banking environment. FOCONIS AG provides control and compliance software for more than 600 customers in the financial services industry. Combined, customers of both companies will benefit from the transaction through the expansion of automation, regulatory, internal control systems (ICS) and data quality competencies for sales management. The aim is to supplement the FOCONIS Group service portfolio with GenoData core products. FOCONIS achieves added value for users by expanding the product portfolio with other tried-and-tested and successful solutions. Cooperation in regulatory issues, which are gaining in importance, will open up potential for optimal data management for financial institutions. Thanks to the wide range of services offered by the FOCONIS Group, many gaps can be closed. As such, the group can continue to offer a broader and more comprehensive portfolio of solutions and applications from one single source.

Moreover, FOCONIS will also benefit from the combination since GenoData’s technology will streamline communication and enable a seamless connection between the systems. This will increase the possibilities for targeted analysis of control procedures and evaluations. At the same time, outsourcing expenses will reduce the number of suppliers, which sustainably lowers the IT, organizational and regulatory processes (e.g. MaRisk, DSGVO, etc.) of the companies.

Olaf Pulwey, CEO of FOCONIS AG and Managing Director of FOCONIS Holding GmbH, says: “Our two companies are linked, among others, by a long-standing market presence and a wealth of experience that is associated with it. Together we are strong enough to supply more than 1,000 regional banks with innovative solutions. GenoData’s team is known for expertise in data and process management (online and offline) as well as business and customer intelligence. With these specialists, our customers can optimize sales and control and take process automation to an even higher level. We want to work together to develop and further strengthen these core competencies. This results in many advantages for our customers. Among other things, they have an even broader portfolio of solutions and applications available from a single source. Within the FOCONIS Group, GenoData will continue to focus on its core competencies in the areas of sales management, reporting and online/offline processes, while FOCONIS will continue to focus on the regulatory requirements within the framework of the internal control systems. As a result, the FOCONIS Group now meets the requirements of modern banking even more extensively.”

The course for sustainable success set in good time

Katharina Lederle, former CEO GenoData GmbH, adds: “We have found the right partner for the future in FOCONIS; not only for our products, but also for our employees and customers. I am pleased to hand over the entire leadership to Bernd Frese.”

Bernd Frese, Managing Director of GenoData EDV-Systeme GmbH, concludes: “The respective service areas of GenoData and the FOCONIS Group create significant synergies from which everyone involved can only benefit. In the interests of our current and future customers, it is now important to cooperatively leverage the numerous potentials. This is how we create sustainable added value for our stakeholders within the FOCONIS Group.”

Within the FOCONIS Group, GenoData will remain committed to focusing on its core competencies in sales management, reporting and online/offline processes. By combining their efforts, both companies will be able to provide a more comprehensive and effective solution for their clients. At the same time, by concentrating on internal control systems, FOCONIS will be able to provide banks with enhanced compliance and risk management capabilities.