Finastra selling its collateral management branch to Teranet
The transaction will be completed by July 2018.
Mergers & Acquisitions/M&A
Stellar to acquire crypto firm Chain for $500m
Stellar is more interested in the developers rather than its technology.
PayPal gets anti-fraud ability with $120m acquisition of Simility
Buys fraud prevention and risk management platform.
BillingTree integrates iPayX e-billing solution
Follows the acquisition of the company back in December.
Banco Sabadell’s venture hub InnoCells acquires lendtech Instant Credit
It aims to grow its digital retail vertical.
Luxoft smashes it with Smashing Ideas acquisition
Smashing, lovely, super. Purchase bolsters digital research, strategy and design.
Hyperactive PayPal acquires Hyperwallet for $400m
Gives it more payment solutions to e-commerce platforms and marketplaces.
Nets dives into Poland with Dotpay/eCard acquisition
Both brands will remain separate and maintain leadership.
Finastra acquires banking app provider Malauzai
Deal strengthens its involvement in US retail and business banking sectors.
CYBG confirms £1.7bn Virgin Money takeover
There could also be around 1,500 job losses.
Truecaller buys Chillr for Indian mobile payments thriller
Acquisition builds on Truecaller Pay, which was launched last year.
InvestCloud acquires rplan for $20m in asset management advance
Deal extends its direct-to-consumer (D2C) offering for asset managers.
Top fintech stories this week – 8 June 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Gift Card Impressions acquired by InComm
Prepaid products company InComm buys former competitor Gift Card Impressions (GCI).
Invesco takes over financial advisor platform Intelliflo
Invesco has acquired Intelliflo, a UK provider of advisor-focused digital solutions.
Cinnober sells majority stake in Irisium to KRM22
KRM22 buys a 60% stake in Irisium, a subsdiary of trading tech firm Cinnober, for £2.6m in cash.
Paytech heavyweights Nets and Concardis to merge
Paytech firms Nets and Concardis will merge but retain their own brands.
Vasco rebrands as OneSpan, acquires Dealflo
Business solutions company Vasco is making a major pivot.
Germany’s largest private and commercial bank launches
Merger of Postbank and Deutsche Bank’s private and commercial clients business has concluded.
China surging in payments technology: lessons for the West
What has driven the explosive growth of Asian paytech from giants such as Ant Financial and Tencent? And what’s next?
Temenos on M&A trail to grow US business
Anti-money laundering (AML), fraud and wealth management are the focus areas.
SIA is partial to First Data’s European card processing for €375m
Will acquire businesses in parts of Central and Southeastern Europe.
Mitek acquires AI firm A2iA for $49.7m
US-based digital identity verification company bolsters its capabilities.
Microsoft acquires Semantic Machines for conversational AI starter
Ambitions to make chatbots sound more human and less like robots.
PayPal to buy iZettle for $2.2bn ahead of IPO
Largest acquisition in its history.
Oracle buys US firm DataScience
Adds platform to its cloud for machine learning boost.
Deutsche Bank buys Indian start-up Quantiguous Solutions
Wants to accelerate its open banking strategy.
Worldline to acquire SIX Payment Services for €2.3bn
Strengthens its paytech operations in Europe.
Capital One buys digital identity start-up Confyrm
“Scrappy little start-up” has made a difference.
Broadridge buys FundAssist for asset management lift
Broadridge also reveals new repo patent using blockchain.
Top fintech stories this week – 11 May 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Mortgage maven Trussle gets Goldman Sachs backing
Goldman Sachs among investors and part of £13.6m Series B funding.
Walmart buys $16bn share in Flipkart
Becomes largest shareholder in Indian e-commerce marketplace.
Virgin Money gets £1.6bn takeover offer from CYBG
Combined entity will have six million personal and business customers.
New holding company Syncapay looks for paytech acquisitions
Syncapay’s vision is to build a powerhouse portfolio of disruptor payment solutions.
IBM acquires data tech firm Armanta
Armanta will be integrated into IBM’s Watson Financial Services portfolio.
Acorns Australia rebrands as Raiz Invest; Westpac and Assembly Payments team up
Acorns Australia, an app that uses small change to invest, has rebranded as Raiz Invest.
Bank of Jordan puts core banking tech in Oracle cloud
First bank in the Middle East to deploy its core tech in Oracle cloud.
SME lender Kabbage to acquire fellow lendtech Orchard
Small business lender Kabbage is rumoured to be acquiring lending platform Orchard Platform Markets.
Diamond Bank sells UK subsidiary to industrialist Sanjeev Gupta
To be renamed as British Commonwealth Trade Bank (BCTB).
