Cornerstone FS PLC on Wednesday said it plans to change its name to Finseta PLC, in order to ‘differentiate’ the company in the marketplace.

Cornerstone is a London-based provider of cloud-based payment systems.

In connection with the name change, the company’s ticket will change to ’FIN’.

The change of name is expected to take effect during April.

Chief Executive James Hickman said: ‘As part of our strategic growth plan, we are excited to announce that Cornerstone FS is undergoing a renaming process. This decision is driven by our desire to better align our brand identity with our mission, values, and the comprehensive range of services we provide. Finseta has been chosen to differentiate us in the marketplace as we build upon our reputation as a client-focused leader.’

Shares in Cornerstone FS were up 1.8% to 28.00 pence each in London on Wednesday afternoon. Over the past 12 months, the stock has quadrupled from 7.00p.

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