Impact of COVID-19 on M&A activity in the fintech space
The market is pricing a more positive outlook for banks globally.
Mergers & Acquisitions/M&A
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.
Italy’s Generali considers Brightsphere acquisition in US
The insurance giant is looking to expand its US footprint.
Mastercard set to acquire Finicity for $825m
This follows a similar acquisition of Plaid by rival Visa in January.
COVID-19: will fintechs crash, survive or get bought?
What can fintech firms do to ride out the storm?
UK regulator probes Visa’s acquisition of Plaid
The UK’s CMA is looking into potential anti-competitive implications.
Credit Sesame acquires Canadian challenger Stack for international expansion
The US loans company is absorbing all Stack employees.
Square buys up Spanish P2P payment app Verse
Verse will join forces with Square’s Cash App.
IBM returns to M&A market with cloud acquisition
The acquisition is IBM’s first since its $34bn buyout of Red Hat in 2018.
NICE Actimize agrees acquisition of Guardian Analytics
The acquisition is expected to close in Q4 2020.
PayTech Awards winners: where are they now? Emailage – Best E-Commerce Initiative
The pending takeover of Emailage by LexisNexis “kind of dominates the news”, says EMEA MD.
Western Union reportedly makes acquisition bid for MoneyGram
Two of America’s largest money transfer and remittance services could be joining forces.
Microgen and Touchstone rebrand merged business to TrustQuay
Since the November 2019 merger, the firm has signed a handful of new deals.
Postera Capital acquires sentiment analysis firm Augmento
Blockchain fund operator aims to be “pioneer” for crypto consulting.
Global fintech sees worst Q1 since 2016 for VC-backed deals
The quarter saw just 404 deals and ended on $6.1 billion.
SS&C Technologies acquires Innovest Systems in $120m deal
The transaction is expected to close in Q2 2020.
DCI nabs Vetter tech suite from AFT Analytics
DCI continues an acquisitive streak focused on strategic growth.
2020 Review: Top 10 M&A deals this quarter
A look back at some of the biggest deals this past quarter.
Banking Technology April 2020 issue out now
All things equal: Closing the gender gap in fintech.
Video: Top fintech stories this week – 03 April 2020
FinTech Futures’ weekly news round-up.
Acuant finalises IdentityMind acquisition
Acuant will build IdentityMind’s onboarding solutions into its existing platform.
