5 FinTech deals that occurred in Europe in October 2022

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. The last month saw some significant deals being undertaken by FinTech companies.

The following are 5 FinTech deals that occurred in Europe in October 2022:

• Ardian and iCapital

Paris-based Ardian has entered a partnership with iCapital to provide wealth managers with access to its private market investment strategies. iCapital products created due to this partnership will be available through Allfunds, a B2B WealthTech platform.

Ardian will leverage iCapital’s technology platform and structuring solutions to provide wealth managers and their clients with access to Ardian’s deep private markets expertise and suite of alternative investment strategies based on its global network of 15 offices in Europe, the Americas, and Asia.

• Curve and Salt Edge

Financial app Curv has formed a compliance and regulatory partnership with Salt Edge. The partnership will enable the company to meet the regulatory requirements of both the European Banking Authority (EBA) and the Bank of Lithuania (BoL) as it brings new payment technologies to its customers. Through Salt Edge, Curv’s users across Europe can continue to access the benefits of open banking.

• NORD/LB and Trade Ledger

German commercial bank NORD/LB is accelerating access to finance for its large corporate customers, in a partnership with Trade Ledger, the data-driven lending technology provider. NORD/LB will use the Trade Ledger platform to originate and manage receivables finance facilities for large corporate customers.

NORD/LB currently releases funds within 7 working days of a receivables finance client raising an invoice. Through the Trade Ledger platform, the bank expects to reduce this to just 24 hours.

• Andbank and Adenza’s Calypso Cloud Services

Adenza, the new company formed by the merger of Calypso Technology and AxiomSL, has been selected by Andbank, to transition its treasury management functions to Adenza’s CapCloudTM platform. A long-time Adenza client, Andbank’s decision to move from a locally installed system to a cloud-based one was driven by a desire to improve the efficiency and scalability of their treasury management platform.

• Scottish Building Society and LendingMetrics

LendingMetrics recently announce that it has been appointed by the Scottish Building Society to deliver its credit decisioning solution. The society will use LendingMetrics’ Auto Decision Platform (ADP) underwriting solution to support its intermediary business over the coming years.

ADP platform is a universally integrated SaaS solution that handles real-time execution of credit reference, AML, and affordability calls to the major credit reference agencies.