Financial services technology provider Finastra is reportedly exploring the sale of its core banking business. 

The potential sale, first reported Sept. 1 by Reuters, could bring in $1 billion for the tech provider.  

News of the divestiture follows Finastra’s May sale of its treasury and capital markets business to global private equity advisory firm Apax, according to a May Finastra release. 

That sale, valued at around $2 billion, allowed Finastra to streamline its portfolio and reinvest its capital into the company, according to the release. 

“This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software,” Chief Executive Chris Walters said in May. 

Finastra’s financial institution clients include $434 million First Pacific Bank and $209 billion Allied Banking, according to Bank Automation News’ Transactions Database. 

Finastra is privately held by private equity firm Vista Equity Partners. 

Finastra declined to comment.