Visa and Plaid call off $5.3bn merger after US regulatory pressure
The two had initially intended to close the deal by June 2020.
Mergers & Acquisitions/M&A
IHS Markit acquires compliance firm Cappitech after year-long partnership
Cappitech had provided its platform for Markit’s SFTR system.
PAYMYNT Financial buys crypto e-wallet LettucePay
LettucePay operates on top of Stellar Network, an open source blockchain platform.
AvidXchange acquires TimberScan provider Core Associates
Firm now claims to be largest account payable firm in the construction sector.
What the Fintech? Season one | Fintech Jail
Here’s a list of all the buzzwords in our What the Fintech podcast game, “Fintech Jail”.
2020 review: Top 10 fintech and bank M&A deals
Despite COVID-19, the financial sector has still enjoyed some notable M&A deals.
IBM buys Canadian fintech Expertus to bolster payments offerings
The acquisition strengthens its portfolio as an end-to-end digital payments solution provider.
Paytech firm Ondot acquired by US banking tech giant Fiserv
Fiserv says the Ondot takeover will help it provide a “unified digital experience” to customers.
The Fintech Review: 2020
We cover embedded finance, competition, open banking, and CBDCs.
New York-based Synechron buys Australian payments firm Attra
Attra and Synechron will have a combined workforce of 10,000 employees and annual revenue of $650m.
Wolters Kluwer snaps up cloud-based lender eOrignal for €231m
eOriginal claims “double-digit” revenue growth over the last three years.
Paysafe to list via Bill Foley-backed Spac at $9bn valuation
Blackstone and CVC acquired Paysafe back in 2017 for £3 billion.
JPMorgan snaps up tax automation fintech 55ip
“Advisors are increasingly seeking intelligent, automated tools,” says bank.
Web Summit 2020: A fintech summary
Stripe is looking at products around digital identity.
What the Fintech? Episode 17 | The spirit is willing, but the markets are weak
This episode of WTF? podcast features Vinoth Jayakumar, partner at VC firm Draper Esprit.
S&P Global could buy IHS Markit for $44bn
S&P Global’s shares have risen 25% in New York this year alone.
Credit Karma secures $7.1bn Intuit acquisition, sells tax ops to Square
Square enjoyed a 4% jump in stock market value following the announcement.
PNC buys BBVA’s US arm for $11.6bn creating America’s fifth-largest bank
PNC expects the acquisition will generate around $900 million in cost savings.
US Department of Justice moves to block $5.3bn Visa-Plaid deal
US regulator files lawsuit against Visa, accusing it of monopolistic tactics.
NerdWallet makes second acquisition in 2020 with Fundera
The deal with Fundera sees NerdWallet continue to diversify its business.
Alliance Data to buy BNPL fintech Bread for $450m
The acquirer expects the deal to increase its earnings per share by 2023.
Calastone acquired by US private equity firm Carlyle Group
Financial details of the agreement have not been disclosed.
US holding firm Syncapay buys Wirecard’s North America business
Wirecard put the market value of its North American business at €824m.
PayPal weighs up crypto acquisitions following major wallet update
BitGo had a valuation of around $170 million in 2018.
Thoma Bravo buys majority stake in risk and reporting firm AxiomSL
AxiomSL’s services cover more than 110 regulators across 55 jurisdictions.
Stripe acquires Nigerian start-up Paystack in $200m deal
Paystack has 60,000 business customers across Nigeria and Ghana.
Goldman Sachs to buy General Motors’ credit card portfolio
Goldman reportedly beats Barclays to nab consumer credit pool worth $8.5bn.
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.
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.
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.
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.
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.
