Weekly News Highlights – 9 December 2021

Stay up to date with the latest news from fintech! This week, we bring you updates and developments on partnerships, startups, open banking, payments, crypto and more. Enjoy reading!

Jumio Acquires 4Stop For End-To-End Identity Solutions (Fintech News)
US-based online mobile payments and identity verification company Jumio is acquiring strategic partner and KYC, compliance and fraud prevention solution provider 4Stop. The deal is expected to close early next year. The acquisition of the Germany-headquartered company will help Jumio advance “ end-to-end identity” solutions, a statement said. The two companies will provide a customer identity lifecycle management offering within a single, unified platform, including configuration and integration through an API. Read more.

Commercial loan automation vendor Numerated acquires financial spread fintech (Bank Automation News)
Boston-based startup Numerated, which automates commercial loan generation, has acquired Fincura, Inc., a spreading automation and financial analysis fintech. The deal, announced recently, will combine Numerated’s digital loan origination system with Fincura’s optical character recognition software and artificial intelligence (AI) to automate the spreading process for banks, which is when financial information from a business is put into a standard format for evaluation. Read more.

Swiss Bank Invests in Asian Crypto Exchange (Finews)
A Sygnum-backed fund makes its first investment, into a Singaporean crypto bourse. The venture capital fund run by the trio Sygnum, SBI, and Azimut is investing in crypto bourse Coinhako, as the fund pushes into Southeast Asia, according to a statement recently. Sygnum, a Zurich-based crypto bank, recently teamed up with Tokyo-based SBI and Italian wealth manager Azimut to launch the $75 million digital asset fund. It aims to invest in digital asset companies in Europe and Southeast Asia. Read more.

LatAm 2021: Credijusto bought a bank, CEO shares experience (Landacademy News)
Credijusto, a leading Mexican small business fintech, chose the former, paying $50 million to buy Banco Finterra in June. Co-CEO David Poritz wrapped day one of the LendIt LatAm keynote section, discussing what it was like as the only neobank holding a banking license in Mexico.  After a short introduction, he was met with a barrage of questions from an audience filled with fintech peers, eager entrepreneurs, and jealous competitors. It’s clear why: the firm doubled its size when it onboarded the regional bank and combined the two have lent more than $2 billion to SMBs. Read more.

London Stock Exchange Group to Acquire Quantile for US$364 Million (Fintech News)
The London Stock Exchange Group (LSEG) will be acquiring financial services provider Quantile Group in a deal valued at GBP 274 million (US$364 million). The acquisition is expected to close in 2022. Quantile will support LSEG’s global OTC Derivatives clearing services, helping the company to expand its post trade risk management customer solutions, according to a statement. The acquisition will enable LSEG’s to tap into Quantile’s trade compression, capital and margin optimisation services. Read more.

Swiss Fintech Acquired by U.K. Wealth Player (Finews)
British-based FNZ is acquiring Appway, a Swiss fintech which has worked with a major Swiss bank. Appway, which provides digital solutions for banks to onboard and advise clients, is selling to FNZ, a British-based firm, the two companies said in a statement on Tuesday. They didn’t disclose financial details of the deal. Part of the deal is for Appway founder-CEO Hanspeter Wolf to become technology chief of FNZ as well as part of top management. Read more.

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