What If You Could Make Prepaid More Profitable?
What does Russell Simmons know that banks don’t? GPR can be profitable. Find out how.
Mergers & Acquisitions/M&A
Mastercard Wins U.K. Approval for VocaLink Buy
The U.K.’s Competition and Markets Authority gave its blessing April 11, enabling Mastercard to complete its acquisition of 92.4 percent of VocaLink Holdings for $920 million. The deal, which is expected to close within weeks, gives Mastercard control of a large portion of the U.K. transaction processing market.
StatPro to acquire risk and performance analytics business from UBS
UBS is selling its risk and performance analytics service, UBS Delta, to StatPro Group, a provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry.
Mastercard buys NuData Security for IoT spree
Mastercard will acquire Vancouver-based biometrics firm NuData Security as it looks to make something out of the internet of things (IoT). NuData provides online and mobile anti-fraud solutions using session and biometric indicators. Mastercard will integrate NuData to its suite of fraud management and security products. Ajay Bhalla, president of enterprise risk and security for […]
Oracle ponders acquisition of Accenture?
Oracle is exploring the feasibility of buying consultancy giant Accenture, and has hired specialists to that effect, it is understood.
Top fintech stories this week – 24 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
MoneyGram Board Says Company Can Further Consider Euronet Proposal
Money transfer giant MoneyGram can give further consideration to Euronet’s surprise bid to acquire the company from under the nose of Ant Financial, which in January entered a definitive agreement to buy MoneyGram.
Top fintech stories this week – 17 March 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Chase Pay Acquires MCX Mobile Payments Technology
Another bell has tolled for the mobile payment service operated by the nearly 3-year-old MCX, a consortium of large retailers. JPMorgan Chase, whose own Chase Pay mobile wallet has been making serious strides, has acquired the technology that underpins CurrentC, the MCX mobile payment product that never went beyond pilot stage.
DH Corporation to be bought by Vista Equity Partners and merged with Misys
Canada’s banking software firm DH Corporation (D+H) is to be acquired by Vista Equity Partners and merged with Misys. The deal is reported to be worth CA$ 2.5 billion ($1.9 billion).
Wirecard completes Citi Prepaid acquisition
Wirecard AG has finalized its acquisition of Citi Prepaid Services.
Fintech acquisition round-up: 9 March 2017
Who’s buying who? Featuring Broadridge, Message Automation, Numerix and TFG Financial Systems.
Financial services consulting firm Arthur Andersen is back
Accounting and consulting firm Arthur Andersen, the folks who audited Enron, is back with 26 offices in 16 countries on five continents. In case you had forgotten; back in 2002, the company voluntarily surrendered its licences to practice as Certified Public Accountants in the US after being found guilty of criminal charges relating to the […]
US fintech slides, Asia and Europe rise says KPMG
Last year was a challenging one for fintech. The Brexit vote, the US presidential election, the slowdown of the Chinese economy, and fluctuations in exchange rates forced investors to tread cautiously, according to KPMG’s latest report “The Pulse of Fintech Q4 2016”. Despite a decline in overall fintech investments, 236 M&A transactions were recorded worth […]
DTCC sells Clarient Global and Avox to Thomson Reuters
The Depository Trust and Clearing Corporation (DTCC) has agreed to sell its Clarient Global and Avox businesses to Thomson Reuters.
Barclays to overhaul back office ops & set up standalone entity, Barclays Services
Barclays is embarking on a major back office operations overhaul, with the creation of a standalone company, Barclays Services.
Banking Technology February 2017 issue out now
The latest edition of our flagship magazine – Banking Technology – is out now, packed with news, analysis and insights, case studies, research and expert commentary.
Green Dot buys UniRush, gains a major payroll card foothold
It’s official: Green Dot will spend at least $167 million to buy UniRush.
Ant Financial Makes Giant Leap into Remittance Biz with MoneyGram Buy
Ant Financial Services Group, the online and mobile financial services affiliate of Chinese e-commerce giant Alibaba Group, has just become a competitive juggernaut in the remittance business with the acquisition of MoneyGram, the second-largest provider of money transfer services based in the U.S. The transaction of approximately $880 million for all of MoneyGram’s common and preferred shares announced Jan. 26, not only helps MoneyGram compete with Western Union, it helps the combined company compete with startups that have been trying to shake up the market for years.
BNP Paribas Securities Services invests in fintech start-up Fortia
BNP Paribas Securities Services has acquired a minority stake in an Fortia Financial Solutions. This deal helps Fortia, a start-up that provides compliance software to the financial services industry, cement the relationship it formed with the bank during the inaugural session of the fintech accelerator by L’Atelier BNP Paribas.
Linedata adds a touch of Gravitas
Investment management software firm Linedata has acquired Gravitas Technology Services, a provider of middle office and technology services to the asset management industry. Gravitas is based mainly in New York and Mumbai, and the deal is part of Linedata’s ambitions in North America. It follows last year’s purchase of fellow investment management software provider, Derivation. […]
Top fintech stories this week – 27 January 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
Ant Financial buys MoneyGram for $880 million
Alibaba’s affiliate Ant Financial is splashing out $880 million for money transfer operator MoneyGram International. This is Ant Financial’s first acquisition of a US-listed company.
SAP shows the world how digital transformation is done
While many traditional tech giants have been struggling to come to terms with the connected economy, SAP’s latest earnings indicate it is adapting well to the world of cloud computing.
IBM: AI needs more than just technology
Artificial intelligence (AI) on its own isn’t enough to compete – companies need industry-specific solutions to business problems. So said Martin Schroeter, IBM’s senior vice-president and chief financial officer, on the company’s quarterly earnings call.
Fintech Acquisition Corp team returns to Nasdaq to raise $153m
The Fintech Acquisition Corp I team that raised $100 million through an IPO in February 2015, has returned a new blank check company – Fintech Acquisition Corp II. It seeks to raise $153 million.
Daimler Financial Services buys PayCash Europe
Daimler Financial Services is acquiring e-payments services provider PayCash Europe, based in Luxembourg. This will enable Daimler to launch its own e-payments service under the Mercedes Pay brand.
InvestCloud acquires Babel Systems for $20m
California-based InvestCloud has acquired Babel Systems in London for $20 million. Babel provides a modular and API-based trade and accounting platform, while InvestCloud has over 660 clients with “accounting needs served by legacy accounting systems that were designed in the last century”. This acquisition links InvestCloud’s digital platform with Babel’s capabilities. InvestCloud will also continue […]
Top fintech stories this week – 6 January 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place! The first weekly news round-up of 2017. Happy 2017! Let it be a year of discovery and success.
S&P sells QuantHouse to original founder
S&P Global is selling trading solutions provider QuantHouse to one of its original founders, Pierre Feligioni. “The time is right for QuantHouse to regain focus and flexibility to exploit growing market opportunities in North America, Europe and Asia,” Feligioni states.
CMA voices concerns over VocaLink’s takeover by Mastercard
The Competition and Markets Authority (CMA) has found that Mastercard’s acquisition of VocaLink gives rise to competition concerns.
Banking and payments tech vendor D+H up for sale?
North American banking and payments tech vendor DH Corporation (D+H) has set up a committee to review its possible sale, it is understood.
Vermilion Software and Cymba Technologies acquired by FactSet
Factset, a US-based provider of financial information and analytics software to the investment management industry, has completed two acquisitions. These are Vermilion Software, a client reporting and communications software specialist and Cymba Technologies, which focuses on asset and investment management software and solutions.
Cognizant to acquire digital agency Mirabeau
Amsterdam-based digital marketing and customer experience agency Mirabeau and its 260 staff will join Cognizant’s digital business once the acquisition is completed.
Avaloq in talks with private equity firms?
Avaloq is rumoured to be talking to private equity (PE) firms. Suitors reportedly include New York-based KKR.
Fintech funding round-up: 24 November 2016
Let’s put the fun in funding by keeping it mercifully brief. Money seekers are PayKey, Euklid and Flender.
DBS to acquire ANZ retail and wealth business in Asia
Singapore-based DBS Bank is buying the retail and wealth business of Australia and New Zealand-based banking group, ANZ, in Singapore, Hong Kong, China, Taiwan and Indonesia for about SGD 110 million ($79 million) “above book value”. The exact figure has not been disclosed, but the portfolio represents total deposits of SGD 17 billion ($12.2 billion), […]
Wipro to buy cloud firm Appirio
IT services integrator Wipro has signed a definitive agreement to acquire US-based Appirio, a cloud services company, for $500 million. With the acquisition, Wipro will get Topcoder, a crowdsourcing marketplace for designers, developers and data scientists; and expand its cloud offerings. Abidali Neemuchwala, CEO and member of the board at Wipro, says it will “consolidate” […]
Fintech funding round-up: 19 October 2016
Want to save some time but be in the know of the latest funding initiatives in the fintech space? Then read on.
Accenture acquires Allen International for digital banking push
Accenture has acquired London-based design consultancy Allen International as it looks to boost its digital banking ambitions. Terms of the transaction were not disclosed, but Accenture says Allen International has worked with more than 350 banks around the world including nine of the top 20 banks. Customers include Emirates NBD, Bank of Ireland, CIBC, Banorte, […]
