Finastra Data Settlement Claims Offer Up to $2,500

Key facts

Case: Tina Parsley Hughes, et al. v. Finastra Technology, Inc., No. CACE26013154
Court: Circuit Court for Broward County, Florida
Settlement fund: $3,125,000
Settlement status: Preliminarily approved. Final approval remains pending.
Who may qualify: Living U.S. residents who were sent notice by Finastra that their private information may have been affected by the October 2024 incident
Benefit choices: Up to $2,500 for documented losses or a pro rata cash payment, plus one year of credit monitoring
Claim deadline: November 27, 2026
Opt-out and objection deadline: November 13, 2026
Final approval hearing: December 14, 2026 at 10:00 a.m. Eastern Time

What the settlement covers

A proposed $3.125 million class action settlement is accepting claims from people who received notice that a 2024 cyberattack involving Finastra Technology may have affected their personal information.

The court-authorized notice says files accessed during the incident may have contained names, dates of birth, Social Security numbers, and financial account numbers. A person does not qualify merely because the person banks with an institution that uses Finastra software. The settlement class is tied to Finastra's records and the notice sent to the individual.

The Broward County court granted preliminary approval on August 19, 2026. That decision allowed notice and claims administration to begin. The court has not granted final approval and has not decided that Finastra violated the law.

The fund will pay approved benefits, credit-monitoring costs, settlement administration, any court-approved attorneys' fees and costs, and any service awards. Because those deductions and the number of valid claims are not yet known, the official materials do not state a guaranteed pro rata payment.

Claim deadline

Claims must be submitted online or mailed with a postmark by November 27, 2026. The settlement administrator decides whether each claim is valid.

What Finastra does

Finastra is a financial-services software company based in Florida. It supplies lending, payments, digital-banking, and universal-banking systems to banks, credit unions, and other financial institutions. Finastra says it serves about 7,000 customers worldwide.

Consumers usually encounter Finastra indirectly. A bank or credit union may use Finastra software or file-transfer tools while providing accounts, payments, loans, or other services. The settlement agreement says the files involved in this incident contained information about some customers of Finastra's clients.

That relationship explains why a notice recipient may recognize the name of a financial institution more readily than Finastra. The settlement class is based on Finastra's notice records. A person should use the notice and the official settlement site to determine whether the person's record appears on the class list.

What happened in the incident

The settlement agreement says Finastra identified a cybersecurity incident on November 7, 2024. Its investigation found that an unauthorized third party accessed Finastra's secure file-transfer platform at various times from October 31 through November 8, 2024. The agreement says the third party accessed certain files on October 31 that included private information belonging to customers of some Finastra clients.

A secure file-transfer platform is software used to move files between organizations or systems. The word “secure” describes the platform's intended purpose. It does not mean unauthorized access is impossible.

The California attorney general's breach-notice archive independently lists Finastra and the October 31 through November 8, 2024 incident period. The settlement agreement says Finastra later sent notices, established a call center, and offered 24 months of credit monitoring to people whose information may have been affected.

The proposed settlement adds a separate set of benefits. Its one-year monitoring benefit is part of the settlement and should not be confused with the earlier incident-response offer. Notice recipients should review the official terms that apply to each program.

The public record does not establish that every listed data element was present in every file or that every class member experienced fraud. A claim for documented losses must show actual unreimbursed expenses tied to the incident under the settlement's rules.

Who may qualify

The preliminary approval order defines the settlement class as all living individuals residing in the United States who were sent notice by Finastra that their private information may have been affected by the incident.

Excluded groups include Finastra's directors, officers, and agents, related governmental entities, the assigned judge and the judge's immediate family, court staff, and people who timely and properly opt out.

The notice-based definition limits the class. It does not include every user of a financial institution, every Finastra customer, or every person affected by an unrelated data breach. A person who cannot locate the notice can contact the administrator and ask whether the person's information appears on the settlement list.

The official site lists Simpluris as the settlement administrator. Class Action Pulse cannot confirm an individual's membership or approve a claim.

Eligibility starts with Finastra's notice records

Receiving services from a bank that uses Finastra does not by itself establish membership. The class covers people Finastra identified and notified about this incident.

Cash and monitoring benefits

Class members may request either documented-loss reimbursement or a pro rata cash payment. They may also request one year of credit monitoring in addition to either cash choice.

Documented losses up to $2,500

A class member may request up to $2,500 for actual, documented, unreimbursed out-of-pocket losses fairly traceable to the incident. The notice says qualifying losses must have occurred between October 31, 2024 and November 27, 2026.

Examples include losses from identity theft or fraud, fees for credit reports or monitoring, credit-freeze or unfreeze costs, replacement identification costs, and postage used to contact financial institutions. The claimant must submit records such as statements, invoices, screenshots, or receipts. A personal statement may explain other proof but is not enough by itself.

The settlement does not reimburse an expense already paid by another source. The administrator may reject or reduce unsupported claims and may request additional information.

Pro rata cash payment

A class member who does not seek documented-loss reimbursement may request an equal share of the net fund remaining after other approved expenses and benefits. No proof of financial loss is required for this option, but the claimant must still submit a valid claim and be verified as a class member.

One year of credit monitoring

Class members may also request one year of CyEx Financial Shield Complete. The notice says the service includes $1 million in financial-fraud insurance, monitoring of credit files and high-risk personal-information transactions, and access to fraud-resolution support.

Monitoring can accompany either cash choice

The settlement allows eligible class members to request credit monitoring in addition to documented-loss reimbursement or the pro rata cash option.

How the pro rata payment works

“Pro rata” means the available amount is divided according to a formula after the administrator knows the size of the remaining fund and the number of approved claims. In this settlement, every valid pro rata claimant receives the same share of the net settlement fund allocated to that option.

The starting fund is $3.125 million, but it must cover more than pro rata checks. The agreement identifies documented-loss payments, monitoring costs, administration, court-approved fees and costs, and service awards. Class counsel says it will request up to $1.182 million in fees and litigation costs, and $2,500 for each of four class representatives. The court may approve less.

The remaining balance will also depend on how many people submit documented-loss claims, how many request monitoring, and how many select the pro rata option. The official notice says a significant amount is expected to remain but does not state a reliable per-person estimate.

No fixed pro rata check is verified

The final amount cannot be calculated until claims and court-approved deductions are known. Any current per-person estimate would be speculation.

How to file a claim

Claims can be filed through FinastraDataSettlement.com or by mailing the official paper form to the administrator. The site provides the form, long-form notice, deadlines, frequently asked questions, and administrator contact details.

A claimant should complete the identifying information, select the requested cash option, choose whether to request monitoring, attach records for a documented-loss claim, and sign the certification. Online claims must be submitted by November 27, 2026. Paper claims must be postmarked by that date.

The administrator may send a deficiency notice if information is missing or a loss is not supported. The agreement says failure to respond can result in denial. If a documented-loss claim is rejected and not cured, the agreement says the claim is treated as a pro rata cash election rather than as no claim.

Class members should keep copies of the form, supporting documents, and submission confirmation. The official site lists the administrator's toll-free number as 866-719-4418.

What the lawsuit alleged and what remains disputed

The consolidated lawsuits alleged that Finastra failed to protect private information during the incident. The plaintiffs sought to hold the company responsible for alleged privacy and data-security harms.

Finastra denies wrongdoing and liability. The agreement states that the company settled to avoid litigation costs, risk, burden, and business disruption. The settlement is not an admission, and the court's preliminary approval is not a merits ruling.

The settlement record establishes that unauthorized access occurred and that notice was sent to identified people. It does not establish that every class member's information was used for fraud, that every loss claimed by an individual was caused by the incident, or that the plaintiffs would have prevailed at trial.

The parties initially litigated related federal cases consolidated as Polak v. Finastra Technology, Inc. in the Middle District of Florida. They exchanged information and mediated on June 2, 2026. After negotiations continued, they reached an agreement on June 17. The federal matter was dismissed, and the settlement action proceeded in Florida state court.

Case timeline and current status

October 31, 2024: The agreement says an unauthorized party accessed files containing private information.
October 31 to November 8, 2024: Identified access period for Finastra's secure file-transfer platform.
November 7, 2024: Finastra identified the cybersecurity incident.
July 3, 2025: California's attorney general archive records Finastra's consumer notice.
2025: Related federal cases were consolidated in the Middle District of Florida.
June 2, 2026: The parties mediated.
June 17, 2026: The parties reached a class-wide agreement.
August 19, 2026: The Broward County court granted preliminary approval.
September 18, 2026: The official site lists the notice-email date.
November 13, 2026: Opt-out and objection deadline.
November 27, 2026: Claim deadline.
December 14, 2026: Scheduled final approval hearing.

The final approval hearing is scheduled to occur by Zoom. The time or format may change. Class members should check the official site rather than relying on an earlier copy of the notice.

What happens next

The administrator will review submitted claims and may seek more information from claimants. Class counsel will ask the court to approve fees, costs, and service awards. Class members who wish to object or opt out must follow the official instructions by November 13.

At the December hearing, the court will consider whether the settlement is fair, reasonable, and adequate. If final approval is granted, payments and monitoring benefits will not be distributed until the settlement becomes effective and any appeals are resolved.

A class member who does nothing will receive no benefit. Unless the person opts out, the person will also release covered claims against Finastra if the settlement becomes final.

Frequently asked questions

Who can file a Finastra data settlement claim?

Living U.S. residents who were sent notice by Finastra that their private information may have been affected by the October 2024 incident may qualify, subject to the exclusions in the settlement.

What is the claim deadline?

November 27, 2026. Online claims must be submitted by that date, and mailed claims must be postmarked by that date.

How much can I receive?

A class member may request up to $2,500 for documented losses or choose a pro rata cash payment. The pro rata amount is not yet known. One year of credit monitoring can be added to either cash option.

What proof is required?

Supporting documents are required for the up-to-$2,500 loss claim. The pro rata option does not require proof of financial loss, but the claimant must still submit a valid form and be verified as a class member.

Did Finastra admit wrongdoing?

No. Finastra denies wrongdoing. The court has preliminarily approved the settlement process but has not decided the underlying allegations.

Is the $3.125 million fund divided equally among all class members?

No. The fund first covers several categories, including documented losses, monitoring, administration, and court-approved fees and awards. Only the net amount allocated to pro rata claims is divided among valid pro rata claimants.

When will benefits be distributed?

The official materials do not promise a date. The court must grant final approval, any appeals must end, and claims must be processed.

Where should I file?

Use FinastraDataSettlement.com or the official paper form. Do not send Social Security numbers, bank records, or other private documents to Class Action Pulse.