Why a Bank Software Company You May Never Have Heard Of Had Your Data: Finastra’s $3.125 Million Breach Settlement Covers About 888,393 People — $3.52 Each on Paper, Before Up to 37.8% Could Go to Attorneys’ Fees and Costs. Claims Close November 27.

If an email or a postcard about Tina Parsley Hughes, et al. v. Finastra Technology, Inc. reached you, it concerns a $3,125,000 class action settlement in state court in Broward County, Florida. Judge Carlos Augusto Rodriguez granted preliminary approval on August 19, 2026, and the settlement website lists September 18, 2026 as the date of the notification email. Email is the first route under the settlement agreement: “Email Notice will be sent to all Settlement Class Members for whom email addresses are included in the Class List or otherwise identifiable by the Settlement Administrator.” A postcard goes to people without a known email address or whose email bounced. The administrator is Simpluris. The court-approved site is FinastraDataSettlement.com, the email address info@FinastraDataSettlement.com, the toll-free number (866) 719-4418, and the mailing address Finastra Data Incident Settlement, c/o Settlement Administrator, P.O. Box 25226, Santa Ana, CA 92799-9958. The safest route is to type the address yourself instead of clicking a link.

Why Finastra. Finastra Technology, Inc. is, in the words of the settlement agreement, “a Florida-based financial services software company that provides lending, payments, and universal banking services, among others.” Its customers are financial institutions. The class is defined by Finastra’s own mailing list: “All living individuals residing in the United States who were sent notice by Defendant that their Private Information may have been impacted in the Data Incident.” Finastra’s filings in Maine, Iowa and Washington date its breach letters to early July 2025. If you received one of those letters and are living in the United States, you are in the class unless you opt out. The message you are getting now is the court-ordered notice of the settlement.

Filing online needs the LoginID and PIN from your notice. The claim page says: “You can find your LoginID and PIN on the Notice that was sent to you. If you are unable to locate your ID and PIN, please contact us by emailing info@FinastraDataSettlement.com. Please request your LoginID and PIN by providing your full name and mailing address.” The paper claim form is another route. Its field reads “Login ID (if known),” and the form can be mailed to the P.O. box, or a scan emailed: “An electronic image of the completed Claim Form can also be emailed to info@FinastraDataSettlement.com.” The deadline is November 27, 2026. Whether a claim is valid is decided by the administrator.

Finastra’s breach letter, as filed with the attorneys general of California, Washington and Iowa, says an unauthorized third party accessed a Secure File Transfer Platform “at various times between October 31, 2024 and November 8, 2024.” Finastra “uses this SFTP to provide technical and customer support to its customers related to certain Finastra products.” On October 31, 2024 the intruder “obtained certain files from the SFTP.” Finastra identified the incident on November 7, 2024; its law firm’s cover letters name the platform as Aspera. The settlement notice says the files “may have contained personal information such as names; dates of birth; Social Security numbers; and financial account numbers.” Finastra’s Iowa filing lists names and Social Security numbers; its Washington filing lists names, Social Security numbers and dates of birth.

Which companies were affected. The settlement documents name no bank. Finastra’s cover letters to the Washington and Iowa attorneys general, both dated July 3, 2025, attach an Appendix A naming “the Finastra client who has directed Finastra to provide notice to your office on their behalf” — in both states, Old National Bank. The same letters say: “The majority of individuals who will receive notice are associated with or employed by entities that utilize Finastra’s financial software solutions and receive support from Finastra related to those services.” A letter can therefore reach you as a customer or as an employee of such an institution. The consumer letter in those filings calls Finastra a provider of “financial software solutions to large financial institutions” without naming one, which is why many recipients cannot place it. A letter template filed in Massachusetts instead has a placeholder for the customer’s name in its first sentence. Other states’ filings may list other clients; we could not open all of them.

How many people. The plaintiffs’ motion for preliminary approval puts the class at approximately 888,393 members. The state filings give only local counts: 25,518 in Iowa, 679 in Washington and 233 in Maine, where the field for the national total was left blank. At the time, Finastra offered 24 months of Experian IdentityWorks; the enrollment deadline in the sample letter was October 31, 2025.

How the case got here. The lawsuits began in federal court in Orlando and were consolidated as Polak v. Finastra Technology, Inc., No. 6:25-cv-01284 (M.D. Fla.), before Judge Paul G. Byron. After a mediation on June 2, 2026, the parties agreed to settle on June 17, 2026, and, as the agreement puts it, “determined that jurisdiction was proper in state court.” The federal case was dismissed without prejudice on July 28, 2026. The Broward County case was filed on August 13, 2026 and preliminarily approved six days later. Finastra denies wrongdoing, and the court has not decided who is right.

Finastra pays $3,125,000 into a settlement fund. The plaintiffs’ motion calls it a “non-reversionary all cash” fund; under the agreement, money goes back to Finastra (after outstanding administration costs) only if final approval is not granted or the settlement’s Effective Date does not occur. The fund pays for notice and administration, for the credit monitoring and documented-loss claims, and for whatever the court awards the lawyers. Class counsel, Jeff Ostrow of Kopelowitz Ostrow P.A. and Mariya Weekes of Milberg PLLC, will ask for up to $1,182,000 in attorneys’ fees and litigation costs. That is 37.8% of the fund (our arithmetic). They will also ask for $2,500 for each of the four class representatives, $10,000 in total. The settlement does not depend on the court granting those amounts.

Option 1: documented losses, up to $2,500. This covers out-of-pocket losses caused by the breach between October 31, 2024 and November 27, 2026 that nobody else has reimbursed. The notice lists losses from identity theft or fraud, fees for credit reports, credit monitoring or freezing and unfreezing your credit, the cost of replacing IDs, and postage to contact banks. Proof such as bank statements or receipts is required; notes you write yourself “alone are not enough to make a valid claim.” Under the agreement, a documented-loss claim that is rejected and not fixed is handled “as if he or she elected a Pro Rata Cash Payment.”

Option 2: pro rata cash, no proof. Instead of option 1, you can claim an equal share of what is left. The notice says “You do not have to provide any proof or explanation to claim this payment” and “It is expected that a significant amount of money will remain in the Settlement Fund after all expenses and all other benefits have been paid.” An estimate will be posted on the settlement website once one exists.

On top: credit monitoring. Every class member can also claim one year of CyEx Financial Shield Complete, which the notice says “comes with $1 million of financial fraud insurance.” It can be combined with either cash option. Cash can be paid by PayPal, Venmo, Zelle, virtual prepaid card or paper check; checks must be cashed within 120 days. Money still in the fund 180 days after payments go out goes to the Legal Aid Service of Broward County.

The settlement papers publish no per-person figure. Our arithmetic: $3,125,000 divided by 888,393 class members is about $3.52 each. If the court grants the full $1,182,000 request and the $10,000 in service awards, $1,933,000 remains, or about $2.18 per class member. That is before administration, credit monitoring and documented-loss payments, which the documents do not quantify.

Only the people who choose the pro rata option share what is left. If 1 in 10 class members did (about 88,800 people), each share of $1,933,000 would be about $22. At 1 in 20 it would be about $44, and at 1 in 50 about $109 — each before the costs above. These are illustrations, not estimates; no claims rate has been published.

A syndicated NJ.com story on September 28 ran under the headline “Data breach victims could get $2.5K from settlement.” The $2,500 is the ceiling for documented, out-of-pocket losses backed by proof. It is not what a typical claimant receives.

November 13, 2026 is the deadline to opt out or object. A request for exclusion needs the case name and number, your full name, mailing address, telephone number and email address, your personal signature, and the words “Request for Exclusion” or a similar clear statement. It goes to Finastra Data Incident Settlement, ATTN: Exclusion Request, P.O. Box 25226, Santa Ana, CA 92799-9958; the notice says it must be “submitted, postmarked, or emailed by November 13, 2026.” You can only exclude yourself. Finastra may terminate the deal if more than 3% of the class opts out.

Objections are filed in writing with the Clerk of Court, 201 SE 6th Street, Fort Lauderdale, FL 33301, by November 13, with copies to the administrator (ATTN: Objections), to class counsel and to Finastra’s lawyers at Norton Rose Fulbright. The court lists twelve required items, among them proof of class membership, how many class settlements you objected to in the past five years, and “a statement of whether the objector and/or objector’s counsel utilized any form of artificial intelligence in preparing the objection.” Class counsel must file the fee request with the motion for final approval 45 days before the hearing, which means by October 30 (our arithmetic from the preliminary approval order).

November 27, 2026 is the claim deadline online or by email; a mailed claim must be postmarked by then, according to the notice. The paper form itself says “Claims must be received by November 27, 2026,” so mailing early avoids the question. The final approval hearing is on December 14, 2026 at 10:00 a.m. Eastern Time via Zoom, according to the notice and the plaintiffs’ notice of hearing; the date and time may change. No money moves before approval: “Settlement payments will be distributed if the Court grants final approval, and after any appeals are resolved.”