Vancouver, BC, Canada — Zafin, a prominent provider of SaaS core modernization and transformation solutions for the banking sector, today announced a key leadership transition as part of its strategic planning for continued success. Al Karim Somji, the founder and longstanding Chief Executive Officer, will step down but maintain a guiding role as a member of the Board of Directors.
Al Karim Somji’s departure from the CEO role marks the end of an era of more than two decades of leadership that saw Zafin grow into a leader in global banking technology. “It has been a remarkable journey and an absolute privilege to lead Zafin through its many milestones and successes. I am extremely proud of our accomplishments over the last two decades—from our original vision to revolutionize the financial services industry to elevating Zafin to a category of its own in core modernization and transformation solutions. Today, Zafin is uniquely positioned as a leader in the global banking technology landscape. I want to extend my deepest appreciation to my co-founders, Anugopal Venugopalan and Dinesh Krishnan, whose ongoing leadership continues to drive our vision forward. Together with the unwavering dedication of our entire team and the trust of our valued customers, we have set a solid foundation for sustained innovation and growth. I am confident and fully trust in Charbel’s vision and capabilities to continue steering Zafin toward groundbreaking solutions that enable banks to stay ahead of the curve, achieving sustainable growth and continued excellence in an ever-evolving banking landscape,” said Al Karim.
Charbel Safadi, previously Group President, will take over as CEO effective immediately. Safadi brings a passion for innovation and a deep understanding of Zafin’s culture and operations, making him an ideal successor to drive the company forward.
“On behalf of Nordic Capital and the Zafin Board, I extend heartfelt thanks to Al Karim for his significant contributions to Zafin. Under his leadership, Zafin has established a robust track record of success. We eagerly anticipate continuing our collaboration with Karim, Charbel, and the extended leadership team as we enter the next stage of the Company’s growth,” Mohit Agnihotri, Partner at Nordic Capital Advisors and Board Member of Zafin, conveyed.
Charbel Safadi expressed his honor and readiness to lead Zafin into its next phase: “Al Karim has been an exceptional leader, and Zafin has thrived under his vision and dedication. I am honored to guide Zafin into its next chapter of growth. We will continue to build upon Zafin’s solid foundation, focusing on sustainable revenue growth and profitability, while delivering ongoing value to our customers and employees worldwide.”
About Zafin
Founded in 2002 in Vancouver, Canada, Zafin is a leader in providing integrated SaaS solutions for the banking industry, focusing on core modernization and transformation to enhance profitability, revenue, and customer experiences. Zafin’s platform enables banks to rapidly adapt their pricing, products, and services to meet market demands while improving operational efficiency. The company serves major global banks including ING, CIBC, HSBC, Wells Fargo, PNC, and ANZ, with a commitment to driving innovation in financial services.
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