Happy Tuesday!
In this edition:
Visa buys Swedish fintech Tink in €1.8bn deal
UK fintech Clearscore on path to unicorn valuation with Invus deal
No Brexit hit: London remains world's most important fintech hub outside the US
How Western Union is fighting back against fintech startups
MJ Hudson acquires fintech risk reporting business.
Visa buys Swedish fintech Tink in €1.8bn deal.
Visa has struck a €1.8bn deal to buy Swedish fintech Tink, less than six months after a previous attempt to buy its US rival Plaid was blocked by regulators.
Tink develops technology that allows third parties to connect to customer data from different financial institutions, enabling them to offer services such as account aggregation and payments that bypass traditional card networks such as Visa’s.
UK fintech Clearscore on path to unicorn valuation with Invus deal.
A technology company which offers consumers free access to their credit scores has been placed on course to join the ranks of British 'unicorns' with an investment valuing it at $700m (£503m).
Invus's investment comes two years after ClearScore scrapped a deal to sell itself to Experian.
No Brexit hit: London remains world's most important fintech hub outside the US.
A newly published report has shown that London remains the second most active city in the world for fintech, behind San Francisco, but that the fintech space in the rest of the UK is expanding rapidly.
London’s fintech space is primarily powered by its thriving ‘challenger bank’ sector, with Brexit and the pandemic having little impact on the capital’s start-up scene, according to the 2021 Global Fintech Rankings, compiled by Findexable.
How Western Union is fighting back against fintech startups.
JPMorgan Chase The saying goes that, “You can’t teach an old dog new tricks.” That may or may not be true, but at least one “old dog” is working hard to disprove that saying.
Western Union has been operating in the cross-border payments space for nearly 150 years and today, globally, it serves almost 150 million customers – representing senders and receivers.
MJ Hudson acquires fintech risk reporting business.
MJ Hudson, the specialist service provider to the asset management industry, has acquired risk management and reporting automation specialist, Clarus Risk (Clarus).
This acquisition follows the December 2020 acquisition of fund performance analytics firm, PERACS. The acquisition further extends the data & analytics services provided by MJ Hudson to its clients.
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