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United Fintech has acquired Commercial Banking Applications (CBA), a banking technology provider specialising in API-driven trade finance and payments solutions, with backing from its existing investors including BNP Paribas, Citi, Danske Bank, and Standard Chartered.
The acquisition marks United Fintech's first venture into commercial banking technology and was funded through a combination of equity and debt from its banking investors. As part of the transaction structure, 15 per cent of the consideration has been reinvested into United Fintech shares by CBA employees.
CBA, which serves major banking institutions across Europe and Asia including ABN AMRO, provides API-based solutions for trade finance and payments. The acquisition aims to strengthen United Fintech's capability to support banks' digital transformation efforts, particularly in automating legacy infrastructure.
Christian Frahm, CEO & Founder of United Fintech, said: "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, CBA
Rolf Hauge, CEO & Founder of CBA, said: "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."
The transaction comes as financial institutions increasingly seek to modernise their core banking infrastructure through partnerships with financial technology providers. United Fintech has indicated it will continue to pursue strategic acquisitions to expand its platform offering.
The reinvestment by CBA employees suggests confidence in the combined entity's growth prospects and aligns the interests of both organisations in developing and scaling solutions for financial institutions globally. Financial terms of the acquisition were not disclosed.
United Fintech, which positions itself as an industry-neutral digital transformation platform, has been building a portfolio of financial technology companies to provide banks with modernisation solutions across various business lines. This latest acquisition expands its capabilities into commercial banking operations, particularly in trade finance and payments infrastructure.
