By: 2 April 2024

Rami Cassis to head new singular organisation providing enhanced customer service channels to financial institutions

ieDigital, Connect FSS, ABAKA integrate, appoint new CEO

ieDigital, Connect FSS and ABAKA are integrating within a single identity, led by Rami Cassis, in a move designed to offer clients a sophisticated and enhanced suite of digital customer-service channels. 

The financial technology sector continues to experience ongoing demand as consumers become increasingly digital-savvy. Customers continually demand increased levels of online functionality from their banks, building societies and credit unions. Financial institutions must make sure they balance this need for market-leading customer service with their own growth and profit goals. 

The three companies integrating creates a single entity which will offer clients, including the largest banks, building societies and credit unions in the UK and US, a sophisticated, comprehensive, and enhanced suite of digital channels. 

As part of the change, current chief executive officer Jerry Young will be moving into retirement, although he will support the business throughout the transition period. 

Incoming chief executive officer Cassis is currently the executive chairman of ieDigital, Connect FSS and ABAKA. He has been part of the senior leadership team and an active investor in ieDigital since 2012, when his family office, Parabellum Investments, acquired the firm. Cassis has similarly been an active investor in both Connect FSS and ABAKA since both were also acquired by Parabellum Investments.

Jerry Young has led ieDigital for over six years, a period that saw significant growth including its appointment by many of the UK’s leading financial services providers. He was also instrumental in the acquisition of Connect FSS and ABAKA and has also been the chief executive officer of both businesses since their acquisition. 

ieDigital, based in the UK, acquired Connect FSS, the US-based digital banking Software as a Service (SaaS) technology provider for credit unions, in September 2023. This was followed by the acquisition of ABAKA, the Artificial Intelligence recommendation engine platform, in January 2024. ABAKA uses machine learning and behavioural segmentation to predict which products, such as banking products, savings accounts, or retirement solutions, are the most likely to be of interest to financial services consumers. 

Cassis said: “Our immediate focus is simple; concentrate on our clients and deliver exceptional software. We have highly talented teams whose capabilities need to be further harnessed. Swift integration of the companies is an essential component of this and will provide numerous benefits to our clients, including added product functionality and greater scale of both development and implementation resources. 

“I want to thank Jerry for his hard work over the last few years and wish him all the best in his retirement. Furthermore, I am looking forward to working alongside the team as we integrate the three companies and play a key part in rewriting the way that banks and credit unions, together with other financial services providers, interact with their customers.”

Image: Rami Cassis LinkedIn

Robert Welbourn
Robert Welbourn is a content editor at FinTech Intel.