Digital asset firm Laser Digital snaps up Elysium Technology Group
Laser says the deal will help bring cross-asset post-trade capabilities to institutional digital asset investors.
Mergers & Acquisitions/M&A
FIS reportedly in talks to sell majority stake in Worldpay for $15bn
Sources tell Reuters that FIS will keep a minority stake in the business if the deal goes through.
FinTech Futures: Top five stories of the week – 30 June 2023
Featuring Orange Bank, Visa, Pismo, Robinhood, and more.
Visa to acquire payments and banking platform Pismo for $1bn
The transaction is subject to regulatory approvals and is expected to close by the end of this year.
Socure snaps up ID verification start-up Berbix for $70m
Socure has integrated Berbix’s tech to launch its new predictive document verification solution, DocV 3.0.
US fintech Ramp buys AI customer support platform Cohere.io
Cohere.io’s entire team, including CEO Yunyu Lin, will join Ramp as part of the deal.
Goldman Sachs reportedly set to lay off 125 managing directors worldwide
Sources tell Bloomberg that the layoffs are currently ongoing as the bank looks to cut costs.
PE firm Flexpoint Ford acquires loan origination fintech Baker Hill
The transaction is expected to close soon following customary regulatory approvals.
Robinhood snaps up credit card platform X1 for $95m
The acquisition is expected to close in Q3 2023, subject to customary closing conditions.
FinTech Futures: Top five stories of the week – 23 June 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US paytech Fortis expands into Canada, acquires SmartPay
The move marks Fortis’ first expansion outside the United States.
SVB Financial Group agrees sale of its investment banking business, SVB Securities
The bidding group is led by Jeff Leerink, SVB Securities’ CEO and founder.
Digital banking tech provider Backbase acquires wealthtech Nucoro
Nucoro’s offering will be incorporated into the Backbase Engagement Banking platform.
FIS acquires BaaS start-up Bond for undisclosed sum
In an internal memo, FIS shares that it completed the Bond acquisition on 8 June.
Nasdaq to acquire software firm Adenza for $10.5bn
The transaction, subject to regulatory approvals, is expected to close within six to nine months.
Paytech Medius to acquire expense management firm Expensya
Medius says the acquisition of Expensya is “one of the largest in the MENA region”.
Stripe acquires engineering analytics start-up Okay
Okay provides analytics and reporting software designed to help engineering teams streamline workflows.
BNP Paribas and NatWest go live on United Fintech’s CobaltFX
CobaltFX was acquired by United Fintech in late 2022 and subsequently relaunched earlier this year.
Bank and payment data fintech Ribbit acquires regtech ValidiFI
Ribbit CEO Greg Rable says bringing together the two companies is a “win-win” for both customers and Ribbit.
FinTech Futures: Top five stories of the week – 2 June 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
B2B fintech Plastiq files for bankruptcy, enters deal with Priority
The agreement is subject to approval from the Bankruptcy Court, and any better offers Plastiq may receive.
Embedded payments platform Rize Money acquired by Fifth Third
Fifth Third says embedded payments are “a core component” of its treasury management business.
US proptech Setpoint acquires Resolute to “revolutionise fintech lending”
Resolute is a due diligence provider focused on single family rental (SFR) and residential transition loans (RTL).
FinTech Futures: Top five stories of the week – 19 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Ripple acquires Metaco in $250m deal
Ripple’s CEO says the deal is “monumental for our growing product suite and expanding global footprint”.
Zepz reportedly axing 420 jobs as firm looks to streamline operations
The cuts will fall largely on Zepz’s customer care and engineering teams, CNBC reports.
Intapp acquires employee compliance software firm Paragon Data Labs
Intapp says the acquisition will augment its risk management and compliance offering.
Cartoon: Hotel California
A new cartoon illustrating the challenge start-ups are facing to find exits.
TD Bank nixes First Horizon merger citing regulatory approval delays
The merger has been mutually terminated and TD Bank has agreed to fork out $200m in cash to First Horizon.
FinTech Futures: Top five stories of the week – 5 May 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
US digital banking platform Greenwood acquires neobank Kinly
The acquisition marks Greenwood’s third over the last year.
Morgan Stanley reportedly set to cut 3,000 jobs by end of Q2
A dearth of deal making is to blame, Bloomberg reports, with a 32% decline in the bank’s merger advisory arm.
JP Morgan Chase snaps up troubled First Republic from FDIC in $10.6bn deal
JP Morgan has assumed all deposits – insured and uninsured – worth approximately $92 billion from the FDIC.
Tradeweb in advanced takeover talks with Aussie trading platform Yieldbroker
The AUD 125 million ($84m) deal remains subject to Yieldbroker stockholder approval.
HSBC triples quarterly profits following SVB UK acquisition and interest rate hikes
The bank also intends to begin a new share buyback of up to $2 billion.
Banking Technology Magazine May 2023 issue out now
Cover story: EVERYTHING, EVERYWHERE… but is all at once the answer?
FinTech Futures: Top five stories of the week – 28 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
South Korea’s Kakao Pay eyes majority stake in Siebert
Kakao Pay has acquired a 19.9% stake in the US firm and plans to buy an additional 31.1%.
Binance.US pulls out of Voyager asset acquisition citing “hostile” regulations
Binance.US cites “the hostile and uncertain regulatory climate” in the US as its reason for pulling out.
Platform One snaps up £1bn worth of assets from SIPP operator Gaudi
The acquisition takes Platform One’s total assets under administration to £2.7bn.
