Top 5 FinTech deals of September 2020 (UK & Europe version)
By Megha Bhattacharya
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 been on the rise. This is continuously being illustrated by some significant deals undertaken by FinTech companies.
Check out the top FinTech deals that took place in September 2020 (UK & Europe) :
Mobile payments provider Judopay recently announced a partnership with Mastercard in a bid to expand its network with a direct route to Mastercard’s Payment Gateway Services global acquiring ecosystem. The partnership is expected to benefit Judopay’s customers with the addition of acquirer optionality, resiliency, faster deployment and support in business expansion.
Mastercard stated that it would also equip the FinTech with the capability to increase foothold in Europe, Asia Pacific, Australia and North America. The companies are planning to roll out more touch-free payment solutions for businesses across the UK and abroad.
TrueLayer, in September, announced the extension of its partnership with the digital smart open banking app sync. The collaboration aims to facilitate the launch of smart banking in France and Ireland. The new development is expected to help sync. further its aim of helping customers across Europe with budget and money management from one dashboard.
sync.’s users can now connect their Irish bank accounts including AIB, Permanent TSB, Ulster Bank and Bank of Ireland, and French banks accounts including Banque Populaire, BNP Paribas, Crédit Agricole, Crédit Mutuel and Société Générale.
Italian PayTech Nexi signed a new partnership with UK FinTech Ebury, thus enabling Ebury to join Nexi Open. This allows Nexi’s partner banks to offer their clients with the full suite of Ebury services, including international cash management, FX risk management and import/export lending.
The FinTech’s services will be offered to businesses via an advanced technology platform, easily integrating within the bank’s digital infrastructure, enabling efficient access to the services and strengthening the relationship between the bank and its clients.
Cryptocurrency exchange platform bitFlyer recently announced an integration with payments platform PayPal in a bid to enable the latter’s European users to deposit funds to the former’s Europe platform. The partnership is expected to boost the crypto exchange’s mission of making cryptocurrency trading accessible.
The integration equips bitFlyer’s users with an alternative to the traditional deposit payment methods, including wire transfers. The collaboration with PayPal is expected to hasten the deposits process exponentially.
bitFlyer Europe is a fully owned subsidiary of bitFlyer, Inc. It aims to make cryptocurrency trading safer and more accessible globally, and support and protect users who may be new to cryptocurrency as well as more experienced traders.
UK-based payment processor Paymentology teamed up with digital banking platform Thought Machine, in September, in a bid to bring rapid integration solutions to established and challenger banks. The companies stated that the partnership would deliver a direct payment processing integration into Thought Machine’s Vault and develop a future banking module that removes the need for middleware.
The collaboration is expected to enable banks currently operating inflexible legacy systems to benefit from digital solutions through the arrangement, enabling them to bring quality services to market in short timeframes, simplified integrations and without the need to draw on additional third-party components.
Paymentology and Thought Machine have recently supported the launch of Standard Chartered’s new digital bank, MOX bank, in Asia which has this month announced its full launch following its initial phase during which it attracted 20,000 pre-registrations.
READ MORE: UK Financial Services Technology Market Report by IBS Intelligence
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