Find out about the latest major financing rounds in Europe in Fintech. In addition, we analyse the strategic agreement signed between Dominion and RSI to jointly develop their technology business for the financial and insurance sector.
Global Dominion Accessfounded in 1999, is a global provider of multi-technical services and specialised engineering solutions to achieve greater efficiency in the production processes of its customers, either through the complete outsourcing of these processes or through the application of solutions based on specialised technologies and platforms.
The technology multinational has a stable presence in 30 countries and projects all over the world. Its services and solutions can be structured in three fields of activity: T&T, Industry and Renewable Energies.
Since its foundation, Dominion has successfully integrated more than 30 companies and developed joint ventures with different partners, becoming an active player in the consolidation process of the sector.
Dominion's net profit increased by 26% in 2016 to €21.5M, while ebitda grew by 13% to €47.2M.
Rural Informatics Services (RSI) is a technological subsidiary of the Caja Rural Group aimed at the banking sector that designs, develops and manages solutions and services for the financial institutions of both the Caja Rural Group and other clients.
Founded in 1986, this leading company in technological outsourcing for financial institutions has more than 8 million customers who carry out an average of 5,000 million transactions per year.
Since 2011, RSI has also had a presence beyond Spain's borders. With the establishment of its international subsidiary, Nessa Global Banking Solutions, its product is present on four continents: Asia, America, Africa and Europe.
Global Dominion Access has signed a strategic alliance with Rural Servicios Informáticos (RSI), a subsidiary of Grupo Caja Rural and leader in technological outsourcing for financial institutions, to jointly develop its technology business for the banking and insurance sector at an international level.
The result of this agreement is the birth of a new joint venture company called Abside Smart Financial Technologies, which will have its Global Service Centre and headquarters in Bilbao and its Competence Centre in Madrid. RSI will subscribe a 49.9% stake in this company, which will continue to be controlled by Dominion.
Abside Smart Financial Technologies will be responsible for developing technology for the banking and insurance sector within the Dominion Digital division. In this alliance, RSI will provide its technological and business solutions in the sector injecting a capital of around €2M, through Nessa Global Banking Solutions.
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