Finomnia pushes AI agents into core banking software

Finomnia has consolidated OCS, Finwave, Quid, altermAInd and Alvantia under a single brand after Apax funds began a strategic investment cycle in 2023 focused on specialized software for financial institutions. The company operates across consumer finance, factoring, corporate lending, mortgages, leasing, banking technology and regulatory tools, with a specialized AI joint venture created with illimity.

The company powers more than 60% of Italy’s consumer credit turnover and generates €200 million (US$230 million) in revenue. Its Latin America push builds on Alvantia’s regional presence, shared language capabilities and ties with Spanish banking groups, with Mexico identified as a major priority due to its market scale and demand for core technology modernization.

Finomnia commits about €20 million annually to R&D and is adding AI agent layers to its existing software suite. Current projects include automating manual back-office tasks for personal loan underwriting and management, adding conversational assistants for documentation, training and database queries, and building governance tools for European Union AI Act compliance and generative AI cost control.

Its platforms can handle up to 80% of specific core operations and are designed to integrate with legacy banking environments through microservices, standard APIs and a Model Context Protocol connection layer. Over the next 18 months, Finomnia plans to focus on the “agentification” of core lending applications, pursue a 15% efficiency improvement in software development, and expand in the European Union and Latin America.