Cartoon: Hotel California
A new cartoon illustrating the challenge start-ups are facing to find exits.
Mergers & Acquisitions/M&A
News, intelligence and resources on the global fintech industry including topics such as mergers & acquisitions/ M&A.
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.
Stripe funding round helps boost global fintech funding 55% in Q1 2023
Taking Stripe out of the equation, funding actually fell 12% over the same period, coming in at $8.5 billion.
FinTech Futures: Top five stories of the week – 21 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Goldman Sachs mulls potential sale of BNPL fintech GreenSky
GreenSky was acquired by Goldman in 2021 for $2.24bn to furnish its Marcus banking app.
What the FinTech? | S.4 Episode 6 | Fintech funding trends and the VC investment landscape
In this episode of the podcast, we’re joined by Sarah Hinkfuss, partner at Bain Capital Ventures.
FinTech Futures: Top five stories of the week – 7 April 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
FDIC looks to sell SVB and Signature Bank securities portfolios
The FDIC says the two portfolios are worth around $27 billion (Signature Bank) and $87 billion (SVB).
Navan acquires Indian travel expense management firm Tripeur
The agreement marks Navan’s fifth acquisition in the last two years.
SoFi acquires Wyndham Capital Mortgage in all-cash deal
The acquisition includes both “talent and technology” and is designed to help SoFi scale.
US saving and investing app Acorns acquires UK’s GoHenry
Together, both firms will now serve over 6 million customers globally.
Banking Technology Magazine April 2023 issue out now
Cover story: TRANSFORMATION INTERVENTION – It’s never too late to recalibrate.
FinTech Futures: Top five stories of the week – 31 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
What the FinTech? | S.4 Episode 5 | Levelling up UK fintech
In this episode of the podcast, we’re joined by Charlotte Crosswell, chair of the newly formed CFIT.
Doconomy and Dreams
Two Swedish firms recently joined forces to help shape the future of climate action.
Zenus Bank acquires FUEX Payments for undisclosed sum
Founded last year and based in Puerto Rico, FUEX Payments operates in the Caribbean and Latin American markets.
Metro Bank uses acquisition as a strategy to speed up innovation
A closer look at how Metro Bank has adapted its approach to innovation.
Visa and Mastercard reportedly in talks to acquire Pismo
Visa has reportedly submitted a bid of $1.4bn after an initial offer of $1bn was rejected by Pismo.
First Citizens Bank strikes deal with FDIC to buy Silicon Valley Bank assets
The deal includes the purchase of assets of $110bn, deposits of $56bn and $72bn of SVB’s loans.
eToro raises $250m at $3.5bn valuation after nixing SPAC
The funding stems from an Advance Investment Agreement (AIA) which eToro entered into in February 2021.
State Street to acquire CF Global Trading for undisclosed sum
The acquisition is expected to be completed by the end of this year subject to customary closing conditions.
FinTech Futures: Top five stories of the week – 24 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
JP Morgan snaps up VC investment analytics software firm Aumni
The financial details of the acquisition, expected to close in H1 2023, have not been disclosed.
FDIC offloads non-crypto Signature Bank deposits to Flagstar Bank
The FDIC will continue to provide crypto-related deposits directly to customers.
Mastercard snaps up Swedish AI cybersecurity start-up Baffin Bay Networks
Mastercard intends to fold Baffin Bay’s automated Threat Protection tech into a global “cyber service”.
FinTech Futures: Top five stories of the week – 17 March 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Paymentology partners Fondeadora to expand Mexican payment services
Thanks to Paymentology, the Fondeadora app will enjoy faster transaction processing and advanced security.
Bloomberg to acquire fintech solutions provider Broadway
Bloomberg says Broadway’s solutions “will fill a gap” in its product portfolio.
HSBC snaps up beleaguered Silicon Valley Bank UK for £1
The Bank of England facilitated the deal over the weekend, in consultation with the Treasury.
