Bravura Solutions acquires Delta Financial Systems in £23m deal
Aussie fintech expands reach in the UK with Delta acquisition.
Mergers & Acquisitions/M&A
Bulgaria’s Paynetics swoops in to buy part of Wirecard UK and Ireland
“Paynetics showed up as the white knight,” says Wirecard.
Goldman Sachs to buy General Motors’ credit card portfolio
Goldman reportedly beats Barclays to nab consumer credit pool worth $8.5bn.
Seedrs reveals £4.6m losses day after Crowdcube merger
Crowdcube’s acquisition of Seedrs is set to create a £140 million equity crowdfunding player.
Japan’s NEC buys Swiss core banking firm Avaloq in $2.2bn deal
Major investor Warburg Pincus currently owns 45% of Avaloq.
Nexi and SIA seal €15bn mega-merger to form “Europe’s largest” payments provider
The two have around two million merchants, and around 120 million cards.
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.
Yandex plans $5.5bn acquisition of Russian neobank Tinkoff
Russian tech giant plans to snap up the country’s largest online bank.
Illimity and Banca Sella buy into each other for open banking venture
A flurry of share issuance, exchanges and buyouts as illimity nabs half of fintech firm Hype.
Tink snaps up UK rival OpenWrks’ aggregation platform
The deal is part acquisition, part strategic.
CaixaBank and Bankia confirm merger creating Spain’s largest lender
For every Bankia share, CaixaBank will exchange 0.6845 newly issued shares.
Change Financial to buy Wirecard’s Australian business for $5.7m
In July, the subsidiary went into voluntary administration.
Competition concerns over fintech acquisitions
The CMA’s concern with mergers and acquisitions is to do with the potential impact on UK customers.
Allica Bank plans £100m funding round after £26m injection
UK challenger plans for future growth and acquisitions.
European Commission resumes LSE-Refinitiv antitrust probe
The EC had paused proceedings in July as it waited for data.
Wirecard’s UK subsidiary WCS confirms Railsbank deal
Update 10/09/2020: An asset purchase agreement with Railsbank subsidiary PayrNet Limited has been signed.
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.
Ohpen acquires cross-border mortgage vendor Davinci
Dutch technology firm plans international expansion with new suite of products.
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.
Spanish lenders CaixaBank and Bankia mull €17bn merger
CaixaBank is about three times the size of Bankia.
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.
Wirecard sells communication services arm to German start-up IDnow
IDnow will keep the majority of the arm’s 150 employees.
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.
Cornerstone Brands plans acquisition of FXPress Payment Services
Men’s toiletries brand makes a move into payments.
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.
Xero to acquire Aussie invoice lending platform Waddle for $57m
Xero’s shares hit more than AUD 100 on 25 August.
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.
Afterpay acquires Spanish BNPL to advance into Europe
Afterpay already owns UK BNPL player, Clearpay.
UK watchdog green lights $5.3bn Visa-Plaid deal
CMA finds no competition issues with Visa’s mega-deal.
Westpac sells vendor finance arm to Cerberus subsidiary for $430m
The acquisition was sealed on 20 August.
Wirecard sells assets in Brazil to PagSeguro
The deal is subject to approvals by the Brazilian Central Bank and antitrust authorities.
