The Monday Roundup: what we are watching this week | Feb 17th

By Puja Sharma

The Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

ATMs on Steroids!

Gen Digital, a global cybersecurity company listed on NASDAQ under the ticker GEN, has raised $950 million through a new debt offering. These funds come from senior notes that will pay 6.25% interest and will be fully repaid by 2033. The deal was done through a private placement, meaning it was only available to select investors.

Only large institutional investors in the U.S. and non-U.S. investors were allowed to buy these notes under specific regulations. This means that everyday retail investors were not part of this offering.

Gen Digital owns well-known cybersecurity brands such as Norton, Avast, LifeLock, Avira, AVG, Reputation Defender, and CCleaner. These products help protect nearly 500 million users worldwide from cyber threats, ensuring online privacy and security.

Findi Ltd (ASX: FND), through its majority-owned Indian subsidiary Transaction Solutions International (India), has secured a significant contract with Union Bank of India to deploy 900 additional ATMs across the country. This strategic partnership, valued at approximately INR 500 crore in revenue and INR 200 crore in EBITDA over a 7+1-year period, further strengthens Findi’s position as India’s most capital-efficient and trusted Brown Label ATM (BLA) service provider.

Findi, through TSI, currently has over 9,000+ Brown Label ATMs in its portfolio, covering 13 major Indian banks, including SBI, HDFC Bank, and Central Bank of India. With the addition of Union Bank of India to its portfolio, the firm continues to bridge the financial services gap, providing critical banking infrastructure to underserved urban and rural communities across India. This expansion aligns with Findi’s broader vision to strengthen its ATM operations and enhance financial service accessibility across its extensive merchant network.

This partnership marks Findi’s third major deal this year. Recently, through TSI, Findi acquired BankIT, a digital payments service provider with over 129,000 merchant touchpoints, bringing its total merchant network to 180,000+. Additionally, Findi has secured RBI approval for the 100% acquisition of Tata Communications Payment Solutions Ltd, further consolidating its leadership in the financial services sector.

Visa debit function

Commerzbank and Visa have entered a strategic partnership to enhance their collaboration in the card payments space. Under this long-term agreement, Commerzbank will prioritise issuing Visa debit and credit cards to its customers, strengthening its payment offerings with Visa’s global expertise. This partnership aligns with Commerzbank’s strategic focus on payments and ensures access to cutting-edge innovations in the evolving financial landscape.

As a first step, Commerzbank’s Girocards will be equipped with the Visa debit function. This will make shopping abroad and online even easier for the bank’s customers.

In retail banking, Commerzbank customers are expected to receive new Visa debit and credit cards starting in 2026. The combination of the Commerzbank and Visa brands aims to expand the marketing of account and card offerings for private customers. The partners have also agreed on close cooperation in payment security. Gradually, tailored products for business and corporate clients will also be offered.

As part of the partnership, the Visa offering at comdirect will also be strengthened. Visa has been the preferred partner of Commerzbank’s comdirect brand since 2020.

Indian financial services firm InCred Group has acquired Arrow Capital (DIFC) Limited, a boutique financial services firm based in Dubai.

Arrow Capital, founded in 2016 and regulated by the Dubai Financial Services Authority (DFSA), is a trusted advisor to ultra-high-net-worth individuals, families, trusts, and corporate entities worldwide.

The firm’s comprehensive suite of services spans wealth management, investment advisory, corporate finance, and asset management, aligning with InCred’s vision to provide holistic financial solutions to its global clientele.

This strategic move marks an expansion of InCred’s global capabilities across wealth management, investment banking, and asset management while strengthening its presence in the Middle East and Africa. Following the acquisition, InCred Global Wealth, with offices in Dubai, Singapore, and London, will manage assets exceeding $2 billion, a milestone for a firm that began operations just over three years ago.

What is the Buzz

Moneyhub, an open finance and data platform, is shutting down its direct-to-consumer (D2C) app business and laying off around 30% of its UK workforce, affecting 36 employees. The app will be phased out over 18 months, with no new customers being accepted, though existing subscriptions will remain active until expiry.

The company is refocusing entirely on its business-to-business (B2B) offerings, which include a white-label engagement platform, open data APIs, and credit decisioning and payment solutions. This shift comes amid strong growth in the B2B sector, particularly in banking, lending, consumer finance, pensions, and insurance.

CEO Alastair McGill stressed that Moneyhub remains financially strong, reporting a 35%+ revenue CAGR. The layoffs are part of a broader restructuring aimed at aligning resources with its expanding B2B focus. Affected employees are receiving support as they transition to new roles.

By exiting the D2C space, Moneyhub is doubling down on scalable B2B solutions, positioning itself for long-term growth in open finance.