Finovifi Acquires Modern Banking Systems and Modern Banking Systems of Alabama
February 6, 2025
Finovifi has acquired Modern Banking Systems (MBS), a 50+-year core banking software provider headquartered in the Omaha, Nebraska area, and MBS’s longtime Southeastern distributor Modern Banking Systems of Alabama (MBSAL). The deal will integrate MBS’s core processing capabilities and MBSAL’s regional relationships with Finovifi’s AI-driven fintech tools and cloud-native offerings to expand product capabilities and market reach among community banks.
- Buyers
- Finovifi
- Targets
- Modern Banking Systems, Modern Banking Systems of Alabama
- Sellers
- Modern Banking Systems (Mike Cronin, CEO), Modern Banking Systems of Alabama (Russ Smith, owner)
- Industry
- Financial Services
- Location
- Nebraska, United States
- Transaction Type
- Buyout
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