United Fintech acquires Commercial Banking Applications
By Gloria Methri
United Fintech has announced the full acquisition of Commercial Banking Applications (CBA), a banking technology provider specialising in API-driven trade finance and payment solutions.
The acquisition was financed by both equity and debt from existing investors, which include four major banks: BNP Paribas, Citi, Danske Bank, and Standard Chartered. This move marks United Fintech’s entry into the commercial banking segment and represents a significant acquisition.
CBA serves a strong network of leading banks across Europe and Asia, with ABN AMRO standing out as one of its top-tier banking customers. By integrating CBA’s API-driven trade finance and payments technology, United Fintech enhances its ability to support financial institutions in their digital transformation. This acquisition strengthens automation, efficiency, and security for commercial banks worldwide, ensuring they can seamlessly integrate innovative FinTech solutions.
CBA’s expertise in API-based banking technology, combined with United Fintech’s global reach, will drive operational efficiency for financial institutions. As part of the deal, 15% of the total consideration has been reinvested into United Fintech shares, ensuring that CBA’s employees remain actively engaged in the company’s future.
Christian Frahm, CEO & Founder of United Fintech, said, “CBA has a proven track record of delivering innovative, high-quality solutions that help banks optimise their operations. Their technology perfectly complements our vision of building a comprehensive digital ecosystem for financial institutions. With CBA’s talented team and industry-leading expertise, we are well-positioned to strengthen our digital commercial banking roadmap.”
Rolf Hauge, CEO & Founder of CBA, expressed his enthusiasm, stating, “Joining United Fintech is an exciting new chapter for CBA. Our technology stack aligns seamlessly with United Fintech’s strategy, and this partnership will enable us to scale our solutions globally. Additionally, becoming a United Fintech shareholder reflects our long-term commitment to driving innovation in the financial services industry.”
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