United Fintech has completed the full acquisition of
Commercial Banking Applications (CBA), a provider of API-driven trade finance
and payments solutions.
The transaction was funded through a mix of equity and debt
from existing investors, including BNP Paribas, Citi, Danske Bank, and Standard
Chartered. This acquisition marks United Fintech’s entry into the commercial
banking sector.
United Fintech Acquires CBA for Expansion
“CBA has a proven track record of delivering
innovative, high-quality solutions that help banks optimize their operations,”
Christian Frahm, CEO & Founder of United Fintech, commented.
CBA provides technology solutions to banks across Europe and
Asia. Its clients include ABN AMRO. The acquisition allows United Fintech to
integrate CBA’s API-based trade finance and payments technology into its
platform. The company aims to support banks in their digital transformation
efforts.
“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,” Frahm added.
Meanwhile, Standard
Chartered has invested in United Fintech Group Limited. This aligns with
Standard Chartered’s strategy to enhance digital solutions in capital markets
and financial services, as reported by Finance Magnates. The investment
includes Board observer rights and, upon meeting conditions, a rotational Board
seat. Additionally, United
Fintech has opened a new office in Dubai to support the UAE’s growing
fintech sector.
Enhancing Platform with CBA
United Fintech focuses on automation , efficiency, and
security in financial technology. The addition of CBA’s capabilities is
expected to enhance its offerings for commercial banks. The company continues
to pursue acquisitions and partnerships to expand its platform.
As part of the deal, 15% of the total consideration has been
reinvested into United Fintech shares. This structure aims to keep CBA
employees engaged in the company’s future. United Fintech intends to use its
global reach and CBA’s technology to develop solutions for financial
institutions.
Rolf Hauge, CEO & Founder of CBA, expressed his
enthusiasm, commenting: “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.”
United Fintech has completed the full acquisition of
Commercial Banking Applications (CBA), a provider of API-driven trade finance
and payments solutions.
The transaction was funded through a mix of equity and debt
from existing investors, including BNP Paribas, Citi, Danske Bank, and Standard
Chartered. This acquisition marks United Fintech’s entry into the commercial
banking sector.
United Fintech Acquires CBA for Expansion
“CBA has a proven track record of delivering
innovative, high-quality solutions that help banks optimize their operations,”
Christian Frahm, CEO & Founder of United Fintech, commented.
CBA provides technology solutions to banks across Europe and
Asia. Its clients include ABN AMRO. The acquisition allows United Fintech to
integrate CBA’s API-based trade finance and payments technology into its
platform. The company aims to support banks in their digital transformation
efforts.
“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,” Frahm added.
Meanwhile, Standard
Chartered has invested in United Fintech Group Limited. This aligns with
Standard Chartered’s strategy to enhance digital solutions in capital markets
and financial services, as reported by Finance Magnates. The investment
includes Board observer rights and, upon meeting conditions, a rotational Board
seat. Additionally, United
Fintech has opened a new office in Dubai to support the UAE’s growing
fintech sector.
Enhancing Platform with CBA
United Fintech focuses on automation , efficiency, and
security in financial technology. The addition of CBA’s capabilities is
expected to enhance its offerings for commercial banks. The company continues
to pursue acquisitions and partnerships to expand its platform.
As part of the deal, 15% of the total consideration has been
reinvested into United Fintech shares. This structure aims to keep CBA
employees engaged in the company’s future. United Fintech intends to use its
global reach and CBA’s technology to develop solutions for financial
institutions.
Rolf Hauge, CEO & Founder of CBA, expressed his
enthusiasm, commenting: “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.”
This post is originally published on FINANCEMAGNATES.
