TransUnion has Signed a Definitive Agreement to Acquire Monevo
Hey FinTech Fanatic!
TransUnion has announced its acquisition of U.K.-based credit prequalification platform Monevo, advancing from its 30% minority stake acquired in 2021 to full ownership. The platform connects over 150 banks and credit providers with comparison websites globally, enabling personalized credit offers without impacting consumers' credit scores.
Todd Skinner, President, International, TransUnion emphasizes the strategic value: "Prequalification is an integral part of the consumer lending process. It drives financial inclusion and responsible lending by helping consumers find more suitable products in less time." Meanwhile, Greg Cox, CEO of Quint Group and Monevo adds: "This acquisition is the natural next step in Monevo's future growth and success."
The acquisition, expected to close by Q2 2025, will be funded through existing cash-on-hand. Steve Chaouki, President, U.S. Markets, TransUnion notes: "Over the last three years, our partnership with Monevo has helped address gaps in the consumer experience. Together, we plan to deliver high-quality offers at scale with minimal support needed from our partners."
Enjoy the read, and I'll catch up with you tomorrow with more tales and updates.
Cheers,
Transform Your Banking Experience! Subscribe to my Daily Banking Newsletter for the latest trends and updates delivered daily to your inbox. Embrace the Future of Banking—Never miss an update!
INSIGHTS
➡️ 5 Financial Brands to Watch in 2025, by Lynnley Browning. Cash App, SoFi, JPMorgan Chase, Vanguard and PNC Bank are embracing both rapidly changing technology and human-powered decision-making to drive customer growth and retention. With FinTech startups nipping at the heels of traditional banks, the race is on. Learn more
FINTECH NEWS
🌎 Latam FinTech Challenges 2025. Latin American FinTech investments rose 73% in 2024, focusing on cost-efficient, B2B models. Experts highlight the need for unified regional frameworks and innovation hubs. In 2025, FinTechs will diversify services, using AI and blockchain for better connectivity and inclusion.
🇩🇪 Monzo co-founder prepares for AI-based self-driving startups. Jonas Templestein found a new startup, Nustom, with the aim of building generative AI coding tools for SaaS products. He describes this as a Level 2 startup where people might ask AI agents to write software from a plain-English spec or tell it to execute well-defined customer service processes.
PAYMENTS NEWS
12 Ways Instant Payments Delivers Value Across the Financial Ecosystem. Instant payments are rapidly becoming a preferred method for disbursements, revolutionizing how consumers, SMBs and enterprise senders manage their finances. Click here to get the complete ebook by Ingo Payments.
🇳🇱 Disrupting payments in NL. Robert Vis, Bird founder and CEO says: "Your margin is my opportunity." Today, Bird is slashing processing fees by more than 50%. Just €0.15 for iDEAL, 1% + €0.10 for all European credit cards. Explore the full story here
🇬🇧 dLocal secures UK payments licence. LatAm payments company dLocal adds FCA authorisation with dLocal Opco Ltd UK. The licence allows the firm to onboard UK merchants directly for the first time, following previous restrictions related to Britain's departure from the European Union.
🇺🇸 Business Payments push The Clearing House and RTP® to faster payments tipping point. Monthly usage by 285,000 businesses for B2B transactions highlights its growing adoption. Feedback from users shows a strong preference for RTP after experiencing its speed and convenience.
REGTECH NEWS
🇸🇬 Singapore will not include credit card fraud in Shared Responsibility Framework, citing existing robust protections for consumers. This clarification came in response to a parliamentary question on the prevalence of credit card fraud in the country. Continue reading
🇬🇧 CFPB sues Experian. The CFPB alleges that Experian does not take sufficient steps to intake, process, investigate, and notify consumers about consumer disputes, resulting in the inclusion of incorrect information on credit reports.
🇬🇧 FxPro implements tell.money antifraud solution. This integration enhances security for BnkPro its e-money app, the innovative Electronic Money Institution (EMI) under FxPro Group Ltd, and provides their clients with greater protection against app fraud and unauthorised transactions.
🇸🇬 XTransfer gets green light for Singapore Payment License. The license, issued on 1 January 2025, allows XTransfer to offer services such as account issuance, domestic and cross-border money transfers, flexible top-up options, and e-money issuance in Singapore. Continue reading
DIGITAL BANKING NEWS
🇺🇦 Revolut officially launched in Ukraine. Revolut has connected to the electronic government system 'Diia' and now allows users to register through this platform. This information was published by the Ministry of Finance of Ukraine.
🇺🇸 JPMorgan files two lawsuits over Viva Wallet. In a Greek lawsuit the bank is claiming €916 million ($943 million) over allegations that Viva’s CEO, and three other executives deprived JPMorgan of the value of its 2022 investment. The second case in the UK filed this week against Werealize.com claims it breached shareholder agreements with JPMorgan.
BLOCKCHAIN/CRYPTO NEWS
🇬🇧 Acuity Trading launches TradeSignals. The tool adds a new layer of automation to an already robust suite of trading tools. The new AI-driven signals tool caters specifically to the FX and cryptocurrency markets, bringing an unparalleled blend of machine precision and market intuition.
🇮🇹 BALTINI partners with Triple-A to introduce crypto payments for luxury fashion shoppers. This collaboration allows Baltini customers to pay with cryptocurrency, marking a significant step forward in luxury fashion retail and embracing the growing demand for alternative payment methods.
🇹🇷 Garanti BBVA Crypto partners with Bitstamp. The aim of this partnership is to allow customers to trade in multiple currencies. In addition, investors in both crypto currencies and traditional financial markets can trade a series of approved digital assets, thus helping to boost crypto access and adoption in Türkiye.
💰 Stablecoin payments are catching on in the ‘Real World’. The total market capitalization of all stablecoins in circulation has ballooned from less than $140 billion at the end of 2023 to more than $200 billion today. They are a kind of crypto token designed to mimic the price of a fiat currency, usually the US dollar.
PARTNERSHIPS
🇦🇪 Network International partners with Money Fellows. Under the partnership, Network will provide Money Fellows with its ‘Digital Payments as a Service’ platform with value added services including advanced fraud prevention, fully secure payment functionality, as well as a full suite of back office managed services.
🇦🇪 Visa partners with Qashio. The partnership aims to address the needs of the travel and tourism industry in the UAE and beyond by introducing the Visa Commercial Choice Travel programme. The initiative will simplify corporate travel payments, with global issuance capabilities covering the UAE, Mena, Europe, and the UK.
🇺🇸 Tradition Capital Bank joins CorServ. Tradition Capital Bank was elevated to CorServ’s Account Issuer Program. It has gained the unique opportunity to participate in credit decisions and provide its clients with virtual cards, ghost cards, comprehensive spend controls, and self-service administration.
🇺🇸 Verifone and FreedomPay announce global partnership, championing a full commerce ecosystem for merchants. The partnership gives merchants the ability to utilize Verifone’s portfolio of industry-leading payment devices with FreedomPay’s commerce platform.
🇨🇦 Nuvei partnership with Gaming Innovation Group (GiG). This collaboration enables iGaming operators to optimize their payments functionality through their existing integration with GiG's CoreX solution. Also, they can leverage Nuvei's payments expertise across global iGaming markets to maximize their revenues and accelerate their growth.
🇬🇧 Payarc teams with Allpack Fulfillment to bolster payments processing. “Through this collaboration, Allpack is actively referring clients to Payarc, enabling seamless financial transactions that complement Allpack’s comprehensive logistics solutions,” a news release said. Continue reading
DONEDEAL FUNDING NEWS
🇺🇸 Fazeshift secures $4MM seed round. Fazeshift’s LLM-powered approach handles complex workflows with ease. Fazeshift’s use of highly specialized LLM prompts tuned to each specific task, allows it to achieve the accuracy and flexibility required for enterprise-grade operations.
🌏 Nomupay secures $37M to expand Asian payments. The company, now valued at around $200 million, has doubled its revenue annually for two years and is projected to reach profitability in 2025. The new investment will support NomuPay’s M&A strategy.
M&A
🇬🇧 TransUnion acquires credit platform Monevo. “This acquisition is the natural next step in Monevo's future growth and success, and would unlock new opportunities to innovate by uniting these two complementary businesses, whose values are already strongly aligned,” said Monevo CEO.
🌏 Accenture acquires Digital Twin Technology, for banks to enhance core modernization capabilities, helping financial services clients in Asia Pacific accelerate the reinvention of their core systems, foster innovation and drive growth. Read more
MOVERS AND SHAKERS
🇬🇧 Zilch announces Joe Zender as its new Chief Product Officer (CPO). Joe has been with Zilch since 2021, and his collaborative leadership and innovative mindset have been instrumental in the company’s success, driving its customer base from fewer than 500,000 to over 4.5 million in just four years. Read on
🇩🇪 Friedrich Hubel appointed COO at Pliant. With around 15 years of experience as an entrepreneur and executive, Hubel strengthens Pliant's leadership team. In his new role, he will support Pliant in further expanding its position as a recognized platform for B2B credit cards.
🇬🇧 Funding Xchange appoints Paul Gordon as Chairman. He will help steer the Group to the next stages of growth that build on the successful delivery of SME lending technology to a range of leading financial institutions to enhance access to suitable lending solutions while reducing cost-to-serve.
🇺🇸 Skipify appoints Cindy Turner as Advisor. Turner is an expert on digital transformation with an exceptional track record of helping companies drive operational excellence and growth at scale. Her insights and leadership will help propel Skipify's mission of reimagining the checkout experience.
🇬🇧 PXP appoints Alex Apergis as CRO in brand transformation. Apergis is a prominent business leader in the payments industry and comes with a wealth of experience forming and scaling global distribution channels. He has previously held leadership roles across in the payments space.
Want your message in front of 100.000+ FinTech fanatics, founders, investors, and operators?
Shoot me a message on LinkedIn or send me an e-mail.
Comments ()