Video: Top fintech stories this week – 29 November 2019
FinTech Future’s weekly news round-up.
Mergers & Acquisitions/M&A
Microgen Financial Services and Touchstone Wealth Management merge
The firms hope to create a leader in the trust and corporate services sector.
iBanFirst acquires Dutch exchange firm NBWM
NBWM to deploy iBanFirst platform to clients as part of the deal.
PayPal sweetens e-shopping processing with Honey deal
The acquisition is PayPal’s largest to date.
Broadridge acquires ClearStructure
Broadridge thinks this will help it create “differentiated” solutions in the market.
SoftBank confirms Yahoo Japan and Line Corp merger to create tech giant
The merger is in a bid to better position the companies against competitors.
Euronext and SIX head-to-head in race to acquire Madrid exchange
A bidding war could develop between the two firms.
Elavon to acquire Sage Pay in £232m deal
The acquisition signals the start of a UK and Ireland expansion for Elavon.
Avaloq completes Derivative Partners acquisition
Zurich-based Derivative Partners to remain independent for the time being.
PFS sells up to Australia’s EML Payments for $290 million
EML aims to become “one of the largest fintech enablers in open banking”.
ATB Financial acquires Grow Technologies
Grow’s founder will join the ATB team.
Interac acquires Ottawa-based digital security company 2Keys
2Keys will operate as “2Keys – a subsidiary of Interac Corp”.
Failed London Stock Exchange bid costs HKEX $16m
Majority of the figure down to consultants and advisory fees.
Avaloq lays groundwork for 2020 sale
Swiss firm’s divestment from Warburh Pincus is picking up steam.
Banking Technology November 2019 issue out now
The identity challenge.
Santander to sell Puerto Rico arm to FirstBank in $1.1bn deal
FirstBank will own all 27 bank branches on the island.
BNP Paribas purchases stake in Allfunds to bolster wealthtech solutions
Bank aims to create market-leading software using Allfunds expertise.
UK cybersecurity firm Sophos bought by America’s Thoma Bravo for $3.8bn
Sophos houses more than 3,400 staff and a turnover of $710.6 million.
Pendleton Community Bank signs Teslar Software for automation
West Virginian bank needed new tech following merger.
Vista Equity Partners mulls Finastra sale
Private equity firm could jettison 50% of tech firm
Bottomline’s merger with EPG sparks UK regulators to investigate impact to competition
The CMA worries the merger will “result in a substantial lessening of competition”.
The challenges for banks and fintechs when building a partnership
Chris Ward, author at Mapa research, dissects the changing definition of ‘partnerships’ in fintech.
Banking Technology October 2019 issue out now
Lessons from Africa.
PayPal is first foreign company to nab Chinese payments licence
Acquisition of GoPay gives PayPal a way into the Chinese market
Sibos 2019: London could be “centre of the world” for RMB
HKEX CEO says stock exchange merger will boost UK capital
Cybersecurity firm Acronis becomes unicorn with $147m investment
The funding round was led by Goldman Sachs.
HKEX £32bn bid for LSE faces rejection
HKEX’s proposal is conditional on LSE abandoning a $27bn acquisition of Refinitiv.
US Bank acquires Talech to help drive digital transformation
The deal enhances the bank’s digital services for SMEs.
E-commerce group eShopWorld on the hunt for fintechs
The business aims to make cross-border online shopping seamless for consumers.
Banking Technology September 2019 issue out now
Thriving in a hyper-connected world.
Apis acquires majority stake in paytech Tutuka
It was attracted to Tutuka’s strong presence across 19 emerging markets.
Kabbage acquires Radius Intelligence to expand its data library
Kabbage is backed by SoftBank and lends up to $250,000.
Chairmans Financial rescues Ipagoo from administration
Chairmans plans to buy 100% of Ipagoo and some assets from its parent software company.
Zip acquires PartPay for $50m
The Aussie credit card company has also purchased an equity interest in QuadPay.
Top fintech stories this week – 30 August 2019
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Raisin completes takeover of MHB-Bank
It is the first fintech in Germany to buy a bank.
Temenos acquires Kony for $559m
The transaction is due to be completed by early Q4 2019.
Experian A/NZ acquires Australian fintech Look Who’s Charging
The deal will bolster Experian’s open data offering in the region.
Raisin to offer pensions with acquisition of Fairr
It will be the first online marketplace to offer savings, investments and pensions.
Wealthfront acquires robo advisor Grove
California-based, Wealthfront, is acquiring financial planning fintech Grove for an undisclosed sum
