New global division focuses on acquiring and operating technology business in financial services
TORONTO, ON, NOVEMBER 2, 2022 – Today, Volaris Group (“Volaris”) announced the launch of Vencora, a new global division dedicated to acquiring and growing great software and technology enabled businesses servicing the financial services industry. Mike Dufton, financial services technology veteran and Volaris Group Portfolio Leader will serve as Vencora’s CEO.
“Vencora’s vision is to create a financial services ecosystem that provides a platform to collaborate, grow and create value for a more connected world,” said Mike Dufton. “We provide our portfolio of businesses and staff with growth opportunities and the resources to pursue them.”
Volaris is a leader in insurance, banking, and credit union technology and this new division will build on this success. Since its first acquisition in financial services in 2012, Volaris has built a strong portfolio of financial services software and technology enabled businesses, with 14 brands now housed under the Vencora umbrella. Together, these businesses comprise of over 1,200 team members operating from 24 offices worldwide and provide solutions to more than 1,300 clients in 69 geographies.
Brands under the Vencora banner include AMS (Advanced Management Systems), BBT Software, Covenir, Datapro Inc., Fisa Group, Insuresoft, Kaboodle, payCloud.io, Portfolio+, Red Hawk, Silvervine, SSP and Travisoft and Wellington IT. Vencora companies are collectively Stronger Together through sharing services, knowledge, and resources amongst each other.
Vencora continues with Volaris Group’s approach to long-term ownership, offering these businesses stability and autonomy. Organizations will continue to retain their own identity and build on the success they have seen thus far, while also having access to a global community of best practices, customers and employees dedicated to the financial services vertical.
The financial services technology sector has never been more critical. With the industry currently experiencing tremendous transformation, including constant regulatory changes and the rise of open banking, finance and insurance companies need stable and innovative technologies to deliver on new customer expectations.
“Collectively, our global strength and strong expertise within the financial services industry position us well within the market to enable our businesses to achieve new growth goals, while discovering new software businesses to welcome into the Vencora family,” said Dufton.
At Vencora, we build legends and preserve legacies. Vencora provides new acquisitions with business opportunities and the resources to pursue them. We are focused on bringing together a strong family of financial services software businesses to grow and continue serving the best interests of their customers and employees.
For more information, visit vencora.com
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