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Canada-based ATB Financial acquires FinTech startup Grow Technologies

ATB Financial

Curtis Stange, President, and CEO of ATB Financial

ATB Financial has acquired the technology assets of Vancouver-based FinTech startup Grow Technologies Inc, to offer a revived digital experience to its customers.

The company recognized its customers’ need for online tools that enable quick account opening and loan requests. With Grow’s acquisition, ATB’s customers will soon have access to an easy-to-use and time-saving digital platform that will offer an improved banking experience, according to a statement.

“For over 81 years, ATB Financial has offered the best financial advice, banking solutions, and services for Albertans. With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers. This acquisition is part of our strategy of putting customers first while driving growth to support Alberta’s economy,” Curtis Stange, President, and CEO of ATB Financial said.

Most of the Grow’s team members will transition to the ATB team. ATB customers will be able to avail of new digital services within the next few months. Deloitte Corporate Finance Inc. acted as the exclusive financial advisor to ATB for the transaction.

Grow Technologies Inc 

Headquartered in Vancouver, Grow Technologies was founded in 2014.  Its technology is powering a new generation of data-driven banking products and services, including digital personal loans, instant customer onboarding, and account opening, advanced data analytics, and real-time compliance and identification tools.

Grow delivers AI-powered customer experiences with personalized financial insights. The assets acquired include the FinTech’s digital account and loan origination platform, FinSnap financial insights technology, and other digital banking technology solutions.

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