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)
Location
Nebraska, United States
Transaction Type
Buyout

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