Barclays reportedly leading the race to take over GM credit card programme from Goldman Sachs
Barclays was a bidder for the programme back in 2020 before Capital One eventually sold it to Goldman.
Mergers & Acquisitions/M&A
UMB Financial Corporation acquires Heartland Financial in $2bn deal
The firms expect the deal to be finalised in the first quarter of 2025.
Republic First Bank closed and sold to Fulton Bank by US regulators
Fulton Bank will “assume substantially all of the deposits and purchase substantially all of the assets” of the bank.
Paystand buys Teampay to enhance B2B payments platform with corporate spend management
Partially financed by Stifel Venture Banking, the deal marks Paystand’s second acquisition in two years.
FinTech Futures: Top five news stories of the week – 26 April 2024
Our pick of the top fintech news stories this week includes Monese, Temenos, Synapse and more.
Thunes to boost US footprint with acquisition of Tilia
Tilia is to rebrand as Thunes and maintain operations from San Francisco.
Goldman Sachs sells Marcus Invest’s digital investing accounts to Betterment
The deal includes Marcus Invest’s accounts and assets under management.
JTC to acquire First Republic Trust Company of Delaware from JP Morgan for $21m
JP Morgan has controlled the unit since its takeover of First Republic Bank last May.
TabaPay to acquire assets of struggling BaaS fintech Synapse
Synapse previously filed for Chapter 11 voluntary bankruptcy and laid off over 50% of its workforce last year.
Karma Wallet acquires sustainability marketplace DoneGood ahead of card and membership programme launch
The sustainability spending fintech is to integrate the DoneGood marketplace into its company ratings platform.
FinTech Futures: Top five news stories of the week – 19 April 2024
Our pick of the top fintech news stories this week includes Klarna, Ramp, Zopa and more.
Wintrust Financial Corporation acquires Macatawa Bank for $510m
Founded in 1997, Macatawa Bank manages a network of 26 full-service branches across Michigan, USA.
EQT to sell data management tech firm Rimes to Five Arrows
The parties say they expect the transaction to close “in the coming months”.
FinTech Futures: Top five news stories of the week – 12 April 2024
Our pick of the top fintech news stories this week includes Linqto, HSBC, Santander and more.
Linqto to go public via $700m SPAC merger with BCSA
The deal is set to close in H2 2024, with Linqto to operate as a wholly-owned subsidiary of BCSA.
Empower Finance strikes deal to buy Petal with Cashalo acquisition completed
The deal for Petal is expected to close later this quarter for an undisclosed sum.
UK fintech Gresham Technologies to be acquired by STG Partners for £147m
The acquisition is expected to close by the third quarter of 2024.
HSBC to sell Argentinian banking arm to Grupo Financiero Galicia for $550m
The deal is expected to be finalised within the next 12 months.
Tradeweb to acquire wealthtech ICD in $785m deal
The all-cash deal is expected to close in the second half of 2024.
FinTech Futures: Top five news stories of the week – 5 April 2024
Our pick of the top fintech news stories this week includes Nuvei, Westpac, iCapital and more.
Banking Technology Magazine April 2024 issue out now
Core story: GOLD GETTERS – The Olympics and fintech make the perfect team.
iCapital set to acquire investment data firm Mirador
The deal is due to expand iCapital’s data management and reporting capabilities.
Nuvei snapped up by Advent International in $6.3bn deal
The Canadian paytech expects the acquisition to close by “late 2024 or the first quarter of 2025”.
Risk management specialist Abrigo snaps up TPG Software for investment accounting tech
The acquisition will boost the growth of Abrigo’s existing suite of technical accounting solutions.
ieDigital, Connect FSS and Abaka to integrate under single identity with Rami Cassis named new CEO
The companies have until now operated as three separate divisions led by CEO Jerry Young, who is set to retire.
FinTech Futures: Top five news stories of the week – 22 March 2024
Our pick of the top fintech news stories this week includes Nuvei, Silverbird, nCino and more.
Nuvei evaluating bids for potential buyout with Advent reportedly leading the race
The Canadian paytech says “no decision has been made at this time” regarding a potential deal.
Cloud banking tech provider nCino acquires DocFox to streamline account opening
DocFox provides account opening software built to help simplify the customer onboarding process.
Razer Fintech and Razer Merchant Services rebranded to form standalone subsidiary Fiuu
Fiuu will now operate independently of Razer, providing payment services for businesses in Southeast Asia.
FinTech Futures: Top five news stories of the week – 8 March 2024
Our pick of the top fintech news stories this week includes Fiserv, Monzo, Virgin Money and more.
Fiserv reportedly in the running to acquire Shift4 Payments
According to a recent Reuters report, final bids for a potential takeover are due to arrive in the coming weeks.
Mexico’s Ziff acquires digital lending start-up Arrenda
The acquisition sees Ziff take control of the start-up’s flagship lending platform, Adelanta.
Deel acquires Africa-based payroll company PaySpace
Deel says it has also surpassed $500 million in annual recurring revenue since its inception in 2019.
Stax Payments announces Mark Sundt as new chief technology officer
Sundt succeeds Chris Staymates, who will return to his role as Stax’s chief innovation officer.
Webull set for Nasdaq public listing via $7.3bn SPAC merger
The merger between Webull and SK Growth Opportunities is due to close in H2 2024.
Blackstone buys $1.1bn of US credit card debt from Barclays
Barclays says it will use the proceeds of the sale to fund an extension of its US lending activities.
Vencora acquires Crealogix to bolster banking tech portfolio
Vencora now owns 99.07% of Crealogix’s issued share capital and voting rights.
FinTech Futures: Top five news stories of the week – 23 February 2024
Our pick of the top fintech news stories this week includes Capital One, Toast, Xalts and more.
Fintech start-up Xalts grants Contour Network new lease of life with announced acquisition
Contour previously announced in October 2023 that it was to wind down operations as a result of insufficient funding.
JP Morgan and fellow Viva Wallet shareholder WeRealize exchange lawsuits
The lawsuits follow reports of disputes over Viva Wallet board nominations last month.
