MergersRSS

DFCU in $20m upgrade of Infosys’ Finacle core banking system

DFCU Bank

Uganda-based DFCU Bank is also upgrading its core banking software to the tune of $20 million. DFCU is moving from version 7 of its Infosys’ Finacle core banking platform to version 10.

Retail deposits platform Savedo acquired by fellow fintech Deposit Solutions

Deposit Solutions buys Savedo

Germany-based Deposit Solutions has acquired fellow fintech Savedo. With the acquisition of Savedo, Deposit Solutions gains 18,000+ clients, 13 partner banks and new regions – thus “further expanding its B2C capabilities”.

PayPal to buy Swift Financial to boost SME lending

PayPal

After a spate of recent partnership announcements to expand its acceptance network and P2P reach, PayPal is buying Swift Financial to boost its small business lending division.

Vantiv and Worldpay agree on $10.4bn merger

merger-300x300

Vantiv and Worldpay each reported double-digit profit growth and announced that their respective boards have agreed to an £8 billion ($10.4 billion) merger. The combined company, which will be called Worldpay, will be valued at approximately £22.2 billion ($28.8 billion).

Harrods Bank acquired by challenger Tandem

Farewell, Harrods Bank

UK-based challenger bank Tandem has singed an agreement to acquire Harrods Bank. Tandem says it will “benefit from around £80 million of capital coming into the business”. It will also provide Tandem with a banking licence.

Linedata acquires outsourcing firm QRMO

Linedata takes over QRMO

Linedata has expanded its outsourcing business into Asia with the acquisition of Quality Risk Management & Operations (QRMO), a provider of outsourced middle-office, shadow accounting and risk monitoring services to the asset management and securities industries.

Two Connecticut credit unions unite on FLEX core banking tech

FLEX is busy in Connecticut

Two small credit unions in the US state of Connecticut – East Hartford Federal Credit Union and America’s First Network Credit Union – have implemented a centralised core banking platform as part of their merger.

Vipera acquires SoftTelecom for $1.5m

Vipera acquires SoftTelecoms

Mobile financial services company Vipera is acquiring SoftTelecom. The deal is expected to close for $1.5 million (€1.3 million).

3SI Security Systems’ European business acquired by Cennox

Equiniti and Nostrum agree M&A

UK-based banking software specialist Cennox has completed the acquisition of 3SI Security System’s European division.

Banking tech consultant and integrator Sofgen to be absorbed into Tech Mahindra

merger-300x300

Sofgen, a Switzerland-based IT consultant and integrator in the financial services and banking space, is undergoing major organisational restructuring. As a result, it will be completely absorbed into its parent, Tech Mahindra, Banking Technology understands.

@banking
techno