$3.12M Finastra Data Breach Class Action Settlement

Finastra Technology Inc., a company providing banking, lending, and payments technology to financial institutions, agreed to pay $3.12 million to settle a nationwide class action lawsuit. The lawsuit stemmed from a data breach that took place in October 2024, when attackers reportedly accessed files containing sensitive data through a targeted cyberattack on the company's systems.

The allegations center on Finastra's failure to prevent the data breach, which may have exposed personal details such as names, dates of birth, Social Security numbers, and financial account numbers. The settlement allows class members to seek compensation for documented out-of-pocket losses, which can include costs related to identity theft, credit monitoring, or ID replacement, or they can elect to receive a one-time pro rata cash payment.

To participate, class members must submit a valid claim form by November 27, 2026. Eligible individuals are those who received a notice regarding the October 2024 data breach. In addition to potential reimbursement or cash, all class members qualify for one year of free CyEx Financial Shield Complete credit monitoring services. The deadline for exclusion and objection is November 13, 2026.