What the FinTech? | S.4 Episode 5 | Levelling up UK fintech
In this episode of the podcast, we’re joined by Charlotte Crosswell, chair of the newly formed CFIT.
Mergers & Acquisitions/M&A
Doconomy and Dreams
Two Swedish firms recently joined forces to help shape the future of climate action.
Zenus Bank acquires FUEX Payments for undisclosed sum
Founded last year and based in Puerto Rico, FUEX Payments operates in the Caribbean and Latin American markets.
Sergio Ermotti returns to UBS as group CEO to help manage Credit Suisse takeover
Ermotti was previously group CEO of UBS for nine years between 2011 and 2020.
Metro Bank uses acquisition as a strategy to speed up innovation
A closer look at how Metro Bank has adapted its approach to innovation.
Visa and Mastercard reportedly in talks to acquire Pismo
Visa has reportedly submitted a bid of $1.4bn after an initial offer of $1bn was rejected by Pismo.
Ingenico acquires smartphone payment acceptance fintech Phos
Phos enables merchants to accept payments directly from NFC-enabled Android devices.
UK paytech Equals Group eyes European expansion with Oonex acquisition
The firm plans to roll out its business payments, expense management and current account products throughout Europe.
First Citizens Bank strikes deal with FDIC to buy Silicon Valley Bank assets
The deal includes the purchase of assets of $110bn, deposits of $56bn and $72bn of SVB’s loans.
eToro raises $250m at $3.5bn valuation after nixing SPAC
The funding stems from an Advance Investment Agreement (AIA) which eToro entered into in February 2021.
State Street to acquire CF Global Trading for undisclosed sum
The acquisition is expected to be completed by the end of this year subject to customary closing conditions.
FinTech Futures: Top five stories of the week – 24 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
UK fintech Snoop reportedly mulling sale
Sky News reports founder Jayne-Anne Gadhia is in talks to either raise new funds or potentially sell the business.
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.
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.
