India’s DMI Group snaps up BNPL fintech ZestMoney
The fire sale deal follows reports in December last year that ZestMoney was closing down.
Mergers & Acquisitions/M&A
Encompass Corporation snaps up CoorpID and Blacksmith KYC from ING
Encompass is to acquire 100% of both ING companies for an undisclosed sum.
Global Credit Union to acquire First Financial Northwest Bank for $231m
The transaction is expected to close in Q4 2024, subject to approvals and customary closing conditions.
JP Morgan Chase-owned WePay reportedly offboards a number of business clients
JP Morgan Chase bought WePay back in 2017 in a $400 million deal in a push to compete with Stripe.
FinTech Futures: Top five news stories of the week – 12 January 2024
Our pick of the top fintech news stories this week includes Zilo, Ant Group, FirstOntario and more.
Ant Group reportedly nearing deal to acquire Dutch payments firm MultiSafepay
The potential acquisition would value the Dutch payments firm at $200 million, Reuters reports.
Southeast Asian fintech Salmon acquires controlling stake in Filipino bank
Once the deal is completed, Salmon will own 59.7% of the Rural Bank of Sta. Rosa (Laguna).
Amethis buys majority stake in Capital Banking Solutions
Amethis plans to help CBS to “accelerate its organic growth, especially internationally”.
Hitachi Payment Services snaps up cash management business from Writer Corporation
“Industry veteran” Anup Neogi has also been appointed as the new managing director and CEO of the acquired business.
US fintech Talus Pay acquires Jobox and Clarus Merchant Services
Financial terms of both the acquisitions were not disclosed.
FinTech Futures: Top five news stories of the week – 5 January 2024
Here’s our pick of five of the top news stories from the world of finance and tech this week, featuring HSBC, Monese, Circle and more.
Blackstone set to acquire majority stake in Japan’s Sony Payment Services
Sony Bank will roll over a certain portion of its equity and continue to remain a minority investor in SPSV.
US paytech Kindcard eyes up OpenTransact acquisition
New York-based OpenTransact is a self-serve banking platform built to support high-risk businesses.
HSBC reportedly enters race to buy Tesco’s banking business
Sky News first reported Tesco Bank’s interest in exploring a sale in February last year.
HSBC completes sale of French retail banking business to CCF
Following the completion of the deal, My Money Group has renamed itself as CCF Group.
Cartoon: Feeling the weight
A new cartoon illustrating how start-ups with previously high valuations are finding it hard to get acquired.
2023: Top five mergers and acquisitions
FinTech Futures takes a look back at some of the biggest mergers and acquisitions of 2023.
FinTech Futures: Top five stories of the week – 22 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Beem Credit Union appoints Sue Britton as chief innovation officer
Beem Credit Union will launch on 1 January in Canada with the merger of Gulf & Fraser and Interior Savings.
CSI snaps up partner Hawthorn River for single-platform loan origination system
CSI initially struck a partnership with Hawthorn River in October to utilise its tech.
Ncontracts snaps up Quantivate for an undisclosed sum
Ncontracts hopes to strengthen its position in the US market and expand its offerings.
Visa to acquire majority stake in Mexican payment processor Prosa
The deal, for an undisclosed sum, is expected to close in the second half of 2024.
The What the FinTech? podcast | Season four’s jailed buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
TSX operator TMX Group snaps up remaining 78% stake in VettaFi for $848m
The group initially paid $175 million for approximately 22% of VettaFi back in January.
FinTech Futures: Top five stories of the week – 15 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
ABN Amro to acquire Dutch neobroker Bux for undisclosed sum
ABN Amro hopes the deal will help it gain a foothold in the retail investment space.
India’s M2P Fintech acquires Goals101 to tap AI-led transaction behaviour intelligence
Goals101 and its big data platform will be integrated into M2P Fintech’s financial services suite.
UK fintech Ebury acquires Prime Financial Markets to make African debut
The deal will see the London-based fintech open a local office in South Africa.
Banking Technology Magazine Dec 2023 / Jan 2024 issue out now
Cover story: THE BEST OF BANKING TECH – Winners and pictures from an amazing night.
DTCC completes acquisition of Securrency, rebrands business as DTCC Digital Assets
DTCC initially announced that it had signed an agreement to buy the firm back in October.
FinTech Futures: Top five stories of the week – 8 December 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Coventry Building Society reportedly eyeing Co-operative Bank takeover
Sky News reports that if the deal goes through, the combined entities will manage nearly £90bn in assets.
US stock trading app Webull enters Mexico with Flink acquisition
The deal also includes Mexican brokerage house Vifaru Casa de Bolsa, which Flink agreed to purchase in 2022.
ASR Nederland explores sale of digital bank Knab
ASR first acquired the brand in July this year after buying up Aegon’s domestic operations in the Netherlands.
FinTech Futures: Top five stories of the week – 24 November 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Irish paytech NomuPay acquires UK-based PSP Total Processing
Total Processing provides payment solutions to merchants in Europe, North America and MENA.
US credit card fintech Petal reportedly eyeing potential sale
According to a report by Fortune, sources say the start-up has received multiple offers for acquisition.
Google parent company Alphabet in talks to seize major stake in UK challenger Monzo
Monzo could close its latest round of funding before the end of the year as it eyes up a potential IPO.
Advent International snaps up UK paytech myPOS
The deal will be completed through Advent’s new payments company, AI Circle Bidco.
Nuvei reportedly snaps up Aussie paytech Till Payments for $30.5m
The paytech was valued at $350 million only seven months ago.
