Paytech Matera acquires Brazilian AI firm Cinnecta for undisclosed sum
The acquisition will enable Matera’s clients to enhance their sales capabilities through actionable insights.
Mergers & Acquisitions/M&A
Finland’s Basware makes offer to acquire Irish fintech Glantus for £17.8m
The transaction is subject to all necessary approvals, and is expected to be finalised in Q4 2023.
Better.com gears up to go public through SPAC merger
According to an SEC filing, the merger is set to close “on or about” 22 August 2023.
DBS completes acquisition of Citi’s consumer banking business in Taiwan
DBS has also absorbed close to 3,000 employees from Citi Consumer Taiwan.
Nationwide Building Society transfers financial planning service to Aegon UK
The transfer is set to take place in early 2024.
Specialist lender Shawbrook reportedly mulling Co-operative Bank merger
Sky News reports Shawbrook has approached the Co-operative Bank’s owners about a potential deal.
Svatantra to acquire Navi Group’s microfinance subsidiary for $178.6m
On completion of the deal, Svatantra says it will become the second largest microfinance entity in India.
MarketAxess acquires Pragma to leverage quantitative trading technology
MarketAxess aims to accelerate the development of quantitative execution algorithms for fixed-income products.
Vijay Shekhar Sharma buys 10% stake in Paytm worth $628m from Antfin
Sharma’s shareholdings in Paytm will increase to 19.42%, while Antfin’s shareholdings are reduced to 13.5%.
Mexican challenger Albo snaps up Delt.ai for $20m
The acquisition makes Albo “the only neobank to offer debit and credit products for both consumers and SMBs”.
US credit union associations CUNA and NAFCU announce merger to form America’s Credit Unions
A 60-day voting period for members to approve the merger is expected to begin later this month.
FinTech Futures: Top five stories of the week – 4 August 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Payoneer acquires AI-powered data platform Spott to streamline decision-making
Payoneer says the start-up’s tech will help it to “better understand and serve customers”.
Nexi buys 30% stake in German PSP Computop
Computop’s founders, Frank Arnoldt and Ralf Gladis, previously held 50% of the company’s shares each.
GoLogiq to acquire Vietnamese fintech Symplefy for $30m
GoLogiq’s executive chairman Brent Suen says the acquisition “is the next of several in our pipeline”.
Vestwell taps workplace financial wellness with Gradifi Solutions acquisition
Vestwell acquires Gradifi Solutions from Morgan Stanley, following its acquisition of E*TRADE Financial.
UK fintech Rapyd snaps up PayU GPO in $610m deal to boost global expansion
PayU says the sale will allow it to focus on “the huge fintech opportunity” in India.
Allfunds acquires local paying agent business of Iccrea Banca
The acquisition enables Allfunds to develop its position in Italy as a local paying agent business.
Vanquis Banking Group buys UK smart money app Snoop
Snoop leverages AI and open banking technology to provide personalised overviews of spending habits.
Upgrade snaps up BNPL vendor Uplift for $100m
California-headquartered Uplift provides BNPL payment and credit products to the travel industry.
Trintech snaps up Fiserv’s financial reconciliation business
Trintech hopes the deal will “act as a springboard for innovation” for its accounting automation platform.
How telco software giant Amdocs is looking to make waves in fintech
FinTech Futures speaks with Amdocs’ Zur Yahalom about the company’s move into the fintech space.
Wealthtech GBST strengthens cloud portfolio with Advice Intelligence acquisition
The deal follows GBST’s acquisition of WealthConnect, the Salesforce-based CRM solution, in May.
Bain Capital buys majority stake in India’s Adani Capital, invests $120m to boost growth
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
Nordea acquires Danske Bank’s Norwegian personal customer and private banking business
The agreement is set to bring approximately 285,000 new customers to Nordea.
Saudi Arabia’s HyperPay acquires fintech start-up Sanad Cash
HyperPay is aiming to expand its product offerings in order to become an “all-in-one” digital payments platform.
Santander reportedly looks to boost investment banking operations with new hires
Reuters reports Santander is making at least 50 new hires in a push to become a major investment banking player.
Nav announces second acquisition of the year with start-up Tillful
In addition to the asset acquisition, many of Tillful’s employees will be joining Nav in senior roles.
Standard Chartered exits several markets in Africa through sale of subsidiaries to Access Bank
Access Bank will acquire Standard Chartered’s subsidiaries in Angola, Cameroon, The Gambia and Sierra Leone.
FinTech Futures: Top five stories of the week – 14 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Monzo reportedly eyeing merger with Nordic neobank Lunar
According to Bloomberg, the potential deal would form part of a European expansion push for Monzo.
DBS Bank to sell majority stake in AXS to Tower Capital Asia
The bank has struck an agreement this week to sell a 77.8% stake in AXS to the private equity firm.
Grow Finance joins Pismo as its first Australian client for card issuance
Launching this September, Grow seeks to provide businesses with better cash flow, management and capital.
Banking Technology Magazine July / August 2023 issue out now
Cover story: THE BEST OF BANKING TECH USA – Winners and pictures from an amazing night.
FinTech Futures: Top five stories of the week – 7 July 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FIS confirms deal to sell majority stake in Worldpay to GTCR for $11.7bn
The transaction is expected to close by Q1 2024, subject to regulatory approvals and closing conditions.
Rimes supports digital transformation of Jana with Matrix solution
Jana has gone live with the solution in an effort to streamline and automate its operational processes.
Turkish fintech Papara acquires Spanish neobank Rebellion Pay
Papara calls the acquisition a “crucial step” in its European expansion strategy.
Corlytics snaps up Clausematch in latest regtech acquisition
The deal marks Corlytics’ second acquisition of the year after buying ING SparQ in January 2023.
UK challenger Tandem Bank secures £20m in funding
Tandem’s CEO says the capital “will put extra momentum behind our green lending proposition”.
