Both FinPal and MiiiA provide technology solutions for financial services businesses that use Microsoft’s business applications and cloud platform, including Dynamics 365, Power BI, Azure and PowerApps.

FinPal founder and CEO Stephen Handley said the two businesses share a common history and philosophy, which made the decision to merge an easy one.

He said he was confident the merger would provide immediate benefits to existing customers and accelerate growth beyond what the two companies would achieve separately.

“There is growing recognition in the financial services industry that automating data management is the key to improving both operational efficiency and customer experience,” Mr Handley said.

“This is exactly what the MiiiA and FinPal systems are designed to deliver. Both businesses have already seen significant growth. But in the case of FinPal/MiiiA, the whole is much greater than the sum of the parts.

“And because of the common Microsoft platform, it will be a quick and painless exercise to integrate our product offerings.”

FinPal also announced that it will rebrand to Fin365 to coincide with the merger.

Mr Handley said that while the timing of the rebrand was affected by the MiiiA merger, the rebrand had been planned for some time.

“While our current focus remains the Australian financial planning industry, we are seeing a steady increase in opportunities in the wider financial services space and also outside of Australia,” he said.

“We think the new brand better reflects where we will be in five years. It also highlights our close relationship with Dynamics 365 and other Microsoft technologies.”

The merger is expected to close by the end of the third quarter, while the rebranding will be completed by the end of the year.