EFL merges with Lenddo

Psychometric credit scoring company Entrepreneurial Finance Lab (EFL) has merged with alternative credit score provider Lenddo.

JP Morgan Chase acquires WePay

JP Morgan Chase has acquired WePay, which will function as the payments innovation incubator in Silicon Valley for the bank.

UK challenger bank Aldermore in acquisition talks with FirstRand

South Africa’s financial services group FirstRand is in takeover talks with Aldermore, a UK-based challenger bank focused on SMEs.

Payments round-up: 10 October 2017

flat vector for business mobile payment concept and  digital marketing with business e commerce concept

Payment services are all the rage this week, here’s a rundown with this week’s round-up. Featuring Paynear, GoSwiff, BBVA, Omnia Pay and Huawei.

Tibco acquires Cisco’s data virtualisation business


Integration, analytics, and event-processing software company Tibco has agreed to acquire Cisco Data Virtualization (formerly Composite Software), reports Julie Muhn at Finovate (Banking Technology‘s sister company). The solution powers enterprise-scale data virtualisation and offers associated consulting and support services. Tibco will leverage the new solution to “enhance its portfolio of analytics products and will help clients onboard analytics […]

ADP buys Global Cash Card

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ADP has acquired Global Cash Card, a pioneer in payroll and contract employee payments, reports Banking Technology‘s sister publication Paybefore. The deal gives ADP a proprietary payments processing platform that, it says, provides value-added services for existing clients and will speed time to market for new clients. ADP also gains “a large diversified client base that […]

Navient’s $155m acquisition shows the importance of being Earnest


US asset management firm Navient will acquire education finance company Earnest for $155 million in cash as it hunts out new markets. As part of Navient, Earnest will continue as a “distinct brand” and will be led by its current management team, including founders Louis Beryl and Ben Hutchinson. Navient says Earnest clients will continue […]

Luxoft Financial Services acquires Unafortis for new global Avaloq practice

Luxoft goes shopping

Luxoft Financial Services is moving into the Avaloq implementation and consulting business with the acquisition of Unafortis, a Swiss wealth management consultancy firm.

IT services business AMS systems PSF acquired by Calligo


Calligo, a global cloud solution provider, has purchased AMS Systems PSF, a Luxembourg based IT services business that provides managed services and cloud infrastructure to the financial sector. Financial terms were not disclosed but the acquisition means big things for Calligo. Not only does it allow further expansion, but also access to AMS Systems’ technology […]

Ayondo remains private company after reverse takeover bid lapses

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Social trading company Ayondo may no longer be the first fintech company to go public on the Singapore Stock Exchange (SGX), reports Julie Muhn at Finovate (Banking Technology‘s sister company). That’s because the reverse takeover (RTO) bid offer from Singapore-based property developer, Starland Holdings, lapsed this week. The RTO bid, initiated in June of 2016, was for $117 […]