JP Morgan snaps up VC investment analytics software firm Aumni
The financial details of the acquisition, expected to close in H1 2023, have not been disclosed.
Mergers & Acquisitions/M&A
Mangopay acquires fellow European paytech WhenThen
WhenThen’s co-founder and CEO, Kirk Donohoe, has been named Mangopay’s chief product officer.
FDIC offloads non-crypto Signature Bank deposits to Flagstar Bank
The FDIC will continue to provide crypto-related deposits directly to customers.
Bluestone to sell UK specialist mortgage business to Shawbrook
The deal is expected to close in Q2 2023 and the business will continue to trade under the Bluestone brand.
Mastercard snaps up Swedish AI cybersecurity start-up Baffin Bay Networks
Mastercard intends to fold Baffin Bay’s automated Threat Protection tech into a global “cyber service”.
UBS buys Credit Suisse in government-backed deal
The new business entity will be worth more than $5 trillion, with invested assets worth more than $1.5 trillion.
FinTech Futures: Top five stories of the week – 17 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Nigerian fintech FairMoney acquires PayForce for undisclosed sum
FairMoney is looking to expand its offering to include features for merchants as well as retail customers.
Paymentology partners Fondeadora to expand Mexican payment services
Thanks to Paymentology, the Fondeadora app will enjoy faster transaction processing and advanced security.
Bloomberg to acquire fintech solutions provider Broadway
Bloomberg says Broadway’s solutions “will fill a gap” in its product portfolio.
UK fintech Weavr acquires open banking platform Comma
The deal will see BaaS and open banking together into an embeddable payment solution for B2B mass payments.
HSBC snaps up beleaguered Silicon Valley Bank UK for £1
The Bank of England facilitated the deal over the weekend, in consultation with the Treasury.
FinTech Futures: Top five stories of the week – 10 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Orion Innovation snaps up Banktech Software for undisclosed sum
The acquisition will help Orion bring in open banking solutions and expand its digital and core banking capabilities.
UK fintech Railsr sold to consortium of VC firms
The consortium consists of D Squared Capital, Moneta VC and Ventura Capital.
Trading Technologies acquires fixed income trading platform AxeTrading
The acquisition, for an undisclosed sum, will broaden TT’s multi-asset capabilities.
Climate tech firm Doconomy acquires financial wellbeing fintech Dreams
Doconomy will fold Dreams’ behavioural science platform into its environmental impact measurement tools.
Banking Technology Magazine March 2023 issue out now
Cover story: FACE OFF – Confrontation can be a good thing.
Nexi to acquire 80% of Sabadell’s merchant acquiring business for €280m
The all-cash deal worth €280 million values the business at €350 million.
Panamax expands global reach with Acute Informatics acquisition
Panamax’s CEO says the acquisition of India-based Acute is a “strategic move to expand our horizons”.
Indian telecom firm Airtel’s merger talks with Paytm reportedly fall through
Sources tell CNBC-TV18 that Paytm didn’t want to give up management control.
Euronext in €5.5bn takeover bid for wealthtech Allfunds
Euronext has submitted an “indicative offer” to Allfunds’ board of directors.
Property analytics firm CoreLogic acquires mortgage tech platform Roostify
The acquisition will see CoreLogic integrate Roostify’s platform with its own data, analytics and workflow solution.
Co-operative Bank reportedly eyeing Sainsbury’s Bank’s £650m mortgage book
The Co-operative Bank is the frontrunner amid a bidding war being run by consultancy Deloitte, Sky News reports.
Dutch challenger Bunq becomes first EU neobank to report a quarterly profit
Bunq reported a pre-tax profit of €2.3 million over Q4 2022.
Tesco reportedly exploring sale of banking business
According to Sky News, Tesco is launching a review of its UK banking activities.
Lithuania’s central bank reportedly investigating Railsr over AML failures
The Telegraph reports that Railsr’s Lithuanian subsidiary is being investigated by the country’s central bank.
Santander reportedly in discussions to purchase Abrdn’s private equity unit
A deal could be made in the next few months with the unit valued at around £250m, Sky News reports.
FinTech Futures: Top five stories of the week – 17 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Financial market data provider Quodd acquires Xignite
The combined business will serve more than 2,200 companies.
Global fintech investment drops 31% in 2022 from record 2021 high
Despite the drop, it was still the third-best year for fintech investment ever.
Zopa acquires DivideBuy in “BNPL 2.0” push
Zopa’s “BNPL 2.0” offering will allow consumers to spread the cost of purchases worth between £250 and £30,000.
Saudi fintech Hala acquires UAE paytech Paymennt.com
Maher Loubieh, co-founder of Hala, says Paymennt’s product was a “clear fit” with their own strategy.
UK fintech Deko hires Joseph Tucker as new CFO
Tucker joins from NewDay, which acquired Deko in January 2020.
Finastra reportedly looking to sell banking business
Finastra is understood to be exploring the sale of its banking portfolio for as much as $7 billion.
NatWest Group snaps up UK fintech Cushon for £144m
The acquisition will enable NatWest to offer its commercial customers a suite of financial wellbeing products.
FIS reveals plans to spin off merchant business unit
FIS expects the spin-off to be completed within the next 12 months.
Cartoon: À la carte
A new cartoon illustrating how the drop in VC money may result in new fintech start-ups being acquired.
FinTech Futures: Top five stories of the week – 10 February 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FNZ to acquire Luxembourg-based B2B fund platform Ifsam
FNZ says the acquisition will strengthen its client proposition and build out its presence in Luxembourg.
