5 FinTech deals that took place in Europe in March 2023

By Gloria Methri

FinTech describes new technology that seeks to improve and automate the delivery and use of financial services. At its core, financial technology is used to help businesses, business owners and consumers better manage their financial operations, processes and lives using specialized software and algorithms used on computers and increasingly smartphones.

The COVID-19 pandemic has accelerated the digitization process for the financial services industry. Amid unprecedented market volatility, the industry’s appetite for digital technology has increased. This month there were some significant deals completed by FinTech companies.

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

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

Nationwide Building Society has selected Accenture and Form3 to transform its digital payments infrastructure by adopting a cloud-based platform, to improve the 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, a London-based Deep Tech and Banking firm, has chosen Temenos to run its new bank designed for customers in emerging markets. Tintra will use Temeno’s core banking and payments platform, as well as its financial crime fighting solution.

FinTech Noda and ThetaRay have joined forces 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 has chosen Lendscape’s contract management system to support its growth, geographic expansion and improved customer experience. Lendscape’s contract management system will enable lenders to better engage with their customers in real time, while providing advanced loan book management capabilities and data for strategic oversight.

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