LONDON, Feb. 4, 2025 /PRNewswire/ -- United Fintech, the industry-neutral digital transformation platform, has announced the full acquisition of Commercial Banking Applications (CBA), a leading banking technology provider specializing in API-driven trade finance and payments 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 strategic move marks United Fintech's entry into the commercial banking segment and represents a significant acquisition.
Expanding into Commercial Banking: Digitizing Legacy Infrastructure for Banks
United Fintech and CBA share a common goal: providing banks with scalable, cutting-edge technology. 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. This highlights the trust major financial institutions place in CBA's cutting-edge solutions. It also demonstrates the strength and reliability of CBA's solutions in supporting major financial institutions. 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. United Fintech remains committed to expanding its platform through strategic acquisitions and partnerships, reinforcing its position as a leading fintech provider for banks seeking advanced digital solutions.
Reinvestment in United Fintech's Growth
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. This reinvestment reflects a strong commitment from CBA employees to the long-term vision of United Fintech, reinforcing a shared ambition to drive innovation in commercial banking technology. By aligning interests, this structure allows to leverage the combined expertise and scale solutions for financial institutions worldwide.
A Shared Vision for Innovation
Christian Frahm, CEO & Founder of United Fintech, commented: "We are thrilled to welcome CBA into the United Fintech family. CBA has a proven track record of delivering innovative, high-quality solutions that help banks optimize 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 about becoming part of United Fintech: "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."
Contact: For more information, please contact rossen@unitedfintech.com or +45 20729972.
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https://news.cision.com/united-fintech-uk/i/cba-and-uf-horizontal-light-blue-with-line,c3373960 | CBA and UF horizontal light blue with line |
https://news.cision.com/united-fintech-uk/i/christian-frahm---ceo-and-founder-of-united-fintech,c3373962 | Christian Frahm - CEO and Founder of United Fintech |
https://news.cision.com/united-fintech-uk/i/rolf-hauge-ceo-cba,c3373963 | Rolf Hauge CEO CBA |
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