5 FinTech deals that occurred in Europe in March 2023

By Gloria Methri

FinTech describes new tech that seeks to improve and automate the delivery and use of financial services. At its core, financial technology is utilised to help companies, business owners, and consumers better manage their financial operations, processes, and lives by utilising specialised software and algorithms that are used on computers and, increasingly, smartphones.

The COVID-19 pandemic has accelerated the process of digitalisation for the financial services industry. Amidst the unprecedented market volatility, the industry’s appetite for digital technology has increased. This month witnessed some significant deals being undertaken by FinTech companies.

The following are 5 FinTech deals that occurred in Europe in March 2023:

• Intesa Sanpaolo and IBM

Italy’s largest banking group Intesa Sanpaolo has signed an agreement to adopt IBM’s innovative technology infrastructures to support its new digital banking service. The collaboration will help the bank evolve its IT security while accelerating performance and reducing energy consumption.

• Nationwide Building Society and Accenture

Nationwide Building Society has selected Accenture and Form3 to transform its digital payments infrastructure by adopting a cloud-native platform, to enhance customer experience with seamless, secure, and fast transactions. Based on an account-to-account platform, the Form3 cloud solution connects financial institutions to payment schemes such as Faster Payments and BACS.

• Tintra and Temenos

Tintra, a London-based Deep Tech and Banking firm, has selected Temenos to power its new bank designed for emerging market clients. Tintra will be using Temenos core banking platform and payments as well as its Financial Crime Mitigation solution.

• Noda and ThetaRay 

FinTech Noda and ThetaRay have teamed up to improve payment monitoring and compliance capabilities on Noda’s Open banking platform as it supports the new digital economy in Europe. Through the agreement, Noda will implement ThetaRay’s AI-powered SaaS SONAR solution for AML that detects financial crime threats and the earliest indications of schemes.

• Simply Asset Finance and Lendscape

Simply Asset Finance has chosen the Lendscape contract management system to support its growth, geographic expansion, and improved customer experience. Lendscape’s contract management system will enable the lender to better engage with its customers in real-time, whilst providing advanced loan book management capabilities and data for strategic oversight.