S&P Global could buy IHS Markit for $44bn
S&P Global’s shares have risen 25% in New York this year alone.
Mergers & Acquisitions/M&A
Credit Karma secures $7.1bn Intuit acquisition, sells tax ops to Square
Square enjoyed a 4% jump in stock market value following the announcement.
PNC buys BBVA’s US arm for $11.6bn creating America’s fifth-largest bank
PNC expects the acquisition will generate around $900 million in cost savings.
US Department of Justice moves to block $5.3bn Visa-Plaid deal
US regulator files lawsuit against Visa, accusing it of monopolistic tactics.
NerdWallet makes second acquisition in 2020 with Fundera
The deal with Fundera sees NerdWallet continue to diversify its business.
Alliance Data to buy BNPL fintech Bread for $450m
The acquirer expects the deal to increase its earnings per share by 2023.
Calastone acquired by US private equity firm Carlyle Group
Financial details of the agreement have not been disclosed.
US holding firm Syncapay buys Wirecard’s North America business
Wirecard put the market value of its North American business at €824m.
PayPal weighs up crypto acquisitions following major wallet update
BitGo had a valuation of around $170 million in 2018.
Thoma Bravo buys majority stake in risk and reporting firm AxiomSL
AxiomSL’s services cover more than 110 regulators across 55 jurisdictions.
Stripe acquires Nigerian start-up Paystack in $200m deal
Paystack has 60,000 business customers across Nigeria and Ghana.
Goldman Sachs to buy General Motors’ credit card portfolio
Goldman reportedly beats Barclays to nab consumer credit pool worth $8.5bn.
Jumio acquires Beam Solutions’ AML technology
Identity firm plans to boost its KYX platform.
MineralTree raises $50 million, acquires Inspyrus and Regal Software
Accounts payable firm plans to take firm grip of mid-market segment.
White paper: Addressing financial services technology challenges during growth
How to realise the full potential of IT integration: get your systems in order, be diligent about due diligence, and prepare for post-merger.
US Department of Justice mulls changes to bank merger legislation
Any amendments would be the first for 25 years.
Banking Technology September 2020 issue out now
Tipping point: Google vs Oracle showdown.
What the Fintech? Episode 13 | Commerce in the wake of COVID-19
Travis Skelly tells FinTech Futures all about how Citi Ventures evaluates ecommerce companies.
Small challenger Jiko buys Minnesota bank
Instead of sitting in deposits, Jiko customer money sits in Treasury Bills.
Impact of COVID-19 on M&A activity in the fintech space
The market is pricing a more positive outlook for banks globally.
First Bancorp completes $1.1bn acquisition of Santander Puerto Rico
The merger is expected to complete in Q2 2021.
Aussie BNPL Zip closes $296m acquisition of US player QuadPay
“The US is a critical part of our global strategy,” says CEO.
Merger creates largest Black-owned US bank
City First Bank in Washington and Broadway Federal Bank in Los Angeles are merging.
NerdWallet steps outside US, acquires UK’s Know Your Money
Know Your Money had some five million consumers and 1.2 million business clients in 2019.
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
Worldremit acquires fellow remittance firm Sendwave
Sendwave has a presence in East and West Africa.
JP Morgan’s blockchain platform Quorum moves to Brooklyn
JP Morgan has also made an undisclosed strategic investment in ConsenSys.
What the Fintech? Episode 12 | Transformers: more than meets the AI
Matt Sattler, head of HSBC’s innovation labs, reveals what it takes to secure a deal with the bank.
Goldman Sachs & Barclays among bidders for GM’s credit card business
GM’s credit card business has about $3 billion in outstanding balances.
American Express acquires SoftBank-backed Kabbage
Reports earlier this month put the value of the acquisition at up to $850 million.
Amazon in talks to invest in cloud services company Rackspace
The deal would involve Amazon acquiring a minority stake in Rackspace.
American Express looks to buy US fintech lender Kabbage
Kabbage was last valued at more than $1 billion.
BankMobile sells for $35m less than failed deal three years ago
BankMobile was supposed to be acquired back in 2017.
ICE agrees $11bn Ellie Mae acquisition
Exchange operator aims to boost its nascent mortgage business.
Apple acquires payments firm Mobeewave in $100m deal
Apple buys start-up to turn iPhones into payment terminals.
Enova International acquires struggling lender OnDeck in $90m deal
OnDeck has suffered in the wake of the COVID-19 pandemic.
Venture capital firm Ribbit plans $600m fintech Spac
Bow Capital Management is also aiming to raise $350m for a tech focused Spac.
Brazilian challenger Nubank acquires firm behind Clojure and Datomic
Cognitect snapped up by Brazilian neobank.
What the Fintech? Episode 9 | Open banking: entering the mainstream
Coconut CEO, Sam O’Connor, shares his insight on the Plaid and Finicity acquisitions.
Banking Technology July/August 2020 issue out now
Unlocking the benefits of open banking.
