Finastra Technology $3.13 Million Data Breach Settlement

Individuals who received notice from Finastra Technology Inc. that an October 2024 data incident may have compromised their private information could be eligible to claim up to $2,500 plus credit monitoring from a class action settlement.

Finastra Technology agreed to pay $3.13 million to settle a class action lawsuit alleging that during a targeted cyberattack in October 2024, unauthorized parties accessed files containing sensitive personal information, including names, dates of birth, Social Security numbers and financial account numbers.

Who can file a claim?

Class members include all individuals residing in the United States whose private information the October 2024 data incident at Finastra Technology may have impacted.

How much are settlement payments?

The settlement offers the following benefits:

• Cash payment for documented losses: Class members who experienced actual, documented out-of-pocket losses between Oct. 31, 2024, and Nov. 27, 2026, due to the data incident can claim up to $2,500. Eligible expenses include losses from identity theft or fraud, fees for credit reports or credit monitoring, costs to replace IDs and postage for contacting banks.
• Pro rata cash payment: Individuals who did not have documented losses can claim a one-time pro rata cash payment. The settlement administrator will divide the remaining funds after it pays expenses and other benefits equally among all who claim this payment. The final amount will depend on the number of valid claims.
• Credit monitoring: All class members can claim one year of CyEx Financial Shield Complete, which includes $1 million in financial fraud insurance and monitoring for identity theft, unauthorized transactions and high-risk activity.

How to claim a settlement payment

To receive benefits, class members must file a claim online or print and complete the PDF claim form and mail it to the settlement administrator. Class members can also request a paper claim form from the settlement administrator.

Settlement administrator's mailing address: Finastra Data Incident Settlement, c/o Settlement Administrator, P.O. Box 25226, Santa Ana, CA 92799-9958

Settlement administrator's email address: info@FinastraDataSettlement.com

Settlement administrator's phone number: 866-719-4418

The deadline to file a claim is Nov. 27, 2026.

Required proof and documentation

• Class members using the online claim form must provide the login ID and PIN from the settlement notice they received.
• Those claiming reimbursement for documented losses must provide proof, such as bank statements, receipts or other supporting documents, showing the expenses were due to the data incident. Self-prepared notes alone are not sufficient, but class members may include them to supplement documentation.
• Those claiming the pro rata cash payment or credit monitoring do not need to provide documentation.

Payout options

• Zelle
• PayPal
• Venmo
• Virtual prepaid card
• Physical check sent to the mailing address provided

$3.13 million settlement fund breakdown

The $3,125,000 settlement fund includes:

• Settlement administration costs: Amount not specified
• Attorneys’ fees and costs: Up to $1,182,000
• Service awards to class representatives: Up to $2,500 each ($10,000 total)
• Credit monitoring: Cost determined by number of claims filed
• Payments to eligible class members: Remaining settlement funds

Important dates

• Deadline to opt out: Nov. 13, 2026
• Deadline to file a claim: Nov. 27, 2026
• Final approval hearing: Dec. 14, 2026

When is the Finastra Technology data incident settlement payout date?

The settlement administrator will issue payments to eligible class members after the court resolves any appeals and grants final approval of the settlement.

Why did this class action settlement happen?

The class action settlement resolves claims that Finastra Technology failed to adequately protect personal information during a targeted cyberattack in October 2024. The plaintiffs alleged unauthorized parties accessed files containing sensitive data.

Finastra denies any wrongdoing but agreed to settle to avoid the costs and risks of ongoing litigation.

Sources

1. Claim form
2. Class notice
3. Settlement agreement
4. Settlement website FAQ page