Sopra Banking Software acquires asset risk management provider Luminosity

Sopra Banking Software has acquired digital auditing solution Luminosity for an undisclosed sum.

Luminosity CEO, Sharon Kavanagh-Banks

Sopra says acquisition of the Dublin-based firm will expand its Software Financing Platform (SFP) and introduce more clients to Luminosity’s digital auditing and risk management software.

SFP manages wholesale stock and inventory financing for “several” global lenders.

Luminosity’s digital inventory auditing and “self-audit” solution SOAR supports lender and leasing organisations in the risk management of assets subject to finance.

Sopra claims the acquisition of Luminosity’s product will complement and broaden the scope of SFP’s asset finance software, and enable the two businesses to invest in new products and features.

Luminosity co-founder and CEO, Sharon Kavanagh-Banks, says: “Today, our digital inventory self-auditing, vehicle appraisal and inspection tools have proved themselves to be cost-effective, efficient and highly scalable.

“Now, as part of a broader software partner, we aim to maintain continuity with our existing clients while accelerating and broadening our proposition and sustaining our growth trajectory.”