5 FinTech deals that took place in Europe in October 2022

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. In the past month, some significant deals were completed by FinTech companies.

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

Paris-based Ardian has partnered with iCapital to provide asset 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.

Financial app Curv has formed a compliance and regulatory partnership with Salt Edge. The partnership will enable the company to meet regulatory requirements from 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.

The German commercial bank NORD/LB is accelerating access to financing for its large corporate customers, in collaboration with Trade Ledger, the data-driven provider of lending technology. NORD/LB will use the Trade Ledger platform to create and manage receivables financing facilities for large corporate customers.

NORD/LB currently releases funds within 7 working days after a debt financing client has raised 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 transfer its treasury management functions to Adenza’s CapCloudTM platform. Andbank’s decision to move from a locally installed system to a cloud-based system was a long-standing Adenza client, driven by a desire to improve the efficiency and scalability of their treasury management platform.

• Scottish Building Society and LendingMetrics

LendingMetrics recently announced 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 brokerage business over the coming years.

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

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