People who were sent a notice that their information may have been exposed in the October 2024 Finastra Technology data breach may qualify to claim a pro rata cash payment or up to $2,500 in documented losses from the $3.125 million Finastra data breach class action settlement. Claims are open through November 27, 2026; the final approval hearing is set for December 14, 2026.
Current Status
Claims are open. Claim Forms must be submitted online by 11:59 p.m. Eastern Time on November 27, 2026, or mailed so they are postmarked by that date. The Broward County Circuit Court granted preliminary approval on August 19, 2026, but has not yet decided whether to approve the settlement; the final approval hearing is scheduled for December 14, 2026 at 10:00 a.m. Eastern Time. No payments have been issued and no payment date has been announced. If you were sent a notice about the Finastra incident, find the Login ID and PIN printed on it and file before the deadline.Free settlement alerts
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What Changed Recently?
Finastra Technology, Inc., a Florida-based company that sells lending, payments and banking software to financial institutions, agreed to pay $3,125,000 to resolve claims over a breach of its Secure File Transfer Platform. According to the settlement agreement, Finastra identified the incident on November 7, 2024; its investigation found that an unauthorized third party accessed the platform at various times between October 31 and November 8, 2024, and on October 31 took files containing information about customers of some of Finastra's clients. The information involved may include names, dates of birth, Social Security numbers and financial account numbers.The case was first litigated as a consolidated federal action in the Middle District of Florida. After the parties reached a deal in June 2026, they concluded the case belonged in state court; the federal case was dismissed and the settlement was filed in the Circuit Court of the 17th Judicial Circuit in Broward County, which granted preliminary approval on August 19, 2026. The plaintiffs allege Finastra failed to adequately protect the information. Finastra denies wrongdoing and liability, and the court has not decided who is right.
Who Qualifies?
The class is every living individual residing in the United States who was sent a notice by Finastra that their private information may have been impacted in the data incident. Most people in the class never dealt with Finastra directly: the files belonged to banks, lenders and other institutions that used Finastra's platform, so a notice about this breach is the thing to look for.Excluded are Finastra's directors, officers and agents and those of its subsidiaries and affiliates, government entities, the judge assigned to the case along with the judge's immediate family and court staff, and anyone who opts out.
How Much Can You Get?
Everything is paid from the $3,125,000 fund. Attorneys' fees, costs, service awards and administration expenses come out first. Class counsel will ask for up to $1,182,000 in fees and costs — a little under 38% of the fund — plus $2,500 for each of the four class representatives. The court decides both requests at the final approval hearing.Each class member chooses one of two cash options:
Documented losses, up to $2,500. Reimbursement for unreimbursed out-of-pocket losses caused by the breach and incurred between October 31, 2024 and November 27, 2026 — for example, losses from identity theft or fraud, fees for credit reports, credit monitoring or credit freezes, the cost of replacing IDs, and postage to contact banks. Losses already covered by another source are not reimbursed.
Pro rata cash payment. Whatever remains after fees, awards, administration, documented-loss payments and credit monitoring is split equally among everyone who picks this option. No estimate has been published yet; the settlement website says it will post one when available. The official notice says a significant amount is expected to remain for these payments, but with a fixed fund the final figure depends on how many people file.
In addition to either cash option, every class member can claim one year of CyEx Financial Shield Complete credit monitoring, which includes $1 million of financial fraud insurance and access to fraud resolution agents.
Finastra may walk away from the deal if more than 3% of the class opts out. Any money left 180 days after payments are sent goes to the Legal Aid Service of Broward County as a cy pres award.
What Proof or Notice ID Is Required?
The online claim form opens only after you log in with the Login ID and PIN printed on the notice you were sent, which is why this page is marked proof-required even though the pro rata payment needs no receipts. A printable claim form treats the Login ID as optional, so a paper form mailed in is the only route for someone who has lost the notice; the official website also explains how to ask the administrator to resend the credentials.A documented-loss claim additionally needs reasonable documentation — bank or credit card statements, invoices, receipts or similar records showing the loss and linking it to the breach. A personal statement can explain other documents but is not enough on its own.
What Is the Deadline?
Claim Forms must be submitted online by 11:59 p.m. Eastern Time on November 27, 2026, or mailed so they are postmarked no later than November 27, 2026. The deadline to exclude yourself or to file an objection with the court is earlier: November 13, 2026.How Do You Take Action?
File at the official Finastra Data Settlement website. Log in with the Login ID and PIN from your notice, select the monitoring and your cash option, upload documentation if you are claiming losses, and choose how to be paid — PayPal, Venmo, Zelle, a virtual prepaid card or a paper check. Submit only one claim per person.What Happens Next?
Class counsel's motion for final approval and fee request are due 45 days before the hearing. The court will hold the final approval hearing on December 14, 2026 at 10:00 a.m. Eastern Time by Zoom, and the date can change without further notice. If the settlement is approved, benefits go out no later than 60 days after final approval or 30 days after the settlement becomes effective, whichever is later — and any appeal would delay that. Credit monitoring enrollment instructions are emailed after the effective date.Sources and Verification
- Official settlement website — Finastra Data Settlement
- Notice of Proposed Class Action Settlement (PDF)
- Settlement Agreement
- Order Granting Preliminary Approval, August 19, 2026
- Claim Form and Release
- Hughes, et al. v. Finastra Technology, Inc., Case No. CACE26013154, Circuit Court of the 17th Judicial Circuit in and for Broward County, Florida
OpenClassActions.com is a consumer news site and is not the settlement administrator or a law firm.
Questions
I never did business with Finastra. Why did I get a notice?
Finastra sells lending, payments and banking software to financial institutions, and the breached system was a file-transfer platform those institutions used to move files to and from Finastra. The files that were taken held information about some of the institutions' own customers. Class membership turns on whether Finastra sent you a notice about the incident, not on whether you ever had an account with Finastra itself.
How much will the pro rata cash payment be?
No estimate has been published. The payment is whatever is left in the $3,125,000 fund after attorneys' fees and costs (up to $1,182,000 requested), service awards, administration costs, documented-loss payments and credit monitoring are paid, divided equally among everyone who chooses it. The settlement website says it will post an estimate once one is available.
Can I claim both the pro rata payment and documented losses?
No. You choose one cash option: reimbursement of documented losses up to $2,500, or the pro rata payment. Either can be paired with the one year of credit monitoring. If a documented-loss claim is rejected and not fixed, the settlement agreement says it is treated as if you had chosen the pro rata payment.
I already got two years of credit monitoring from Finastra. Should I still claim the settlement monitoring?
The settlement agreement notes that Finastra offered 24 months of credit monitoring when it sent its breach notices. The settlement adds one year of CyEx Financial Shield Complete, which comes with $1 million of financial fraud insurance. It costs nothing extra to select it on the claim form, and it can be claimed alongside either cash option.
What happens to money that is never cashed?
Checks must be cashed within 120 days. Any money still in the fund 180 days after payments go out is paid as a cy pres award to the Legal Aid Service of Broward County, not returned to Finastra.
