United Fintech, the digital transformation platform, announced the full acquisition of Commercial Banking Applications (CBA), a banking tech provider focused on API-driven trade finance and payments solutions.
The acquisition was reportedly financed by equity and debt from existing investors, which include four major banks: BNP Paribas, Citi, Danske Bank, and Standard Chartered.
This move marks United Fintech’s entry into the commercial banking segment and represents a significant acquisition.
United Fintech and CBA share a common goal: providing banks “with scalable, cutting-edge technology.”
CBA serves a network of banks across Europe and Asia.
By integrating CBA’s API-driven trade finance and payments technology, United Fintech enhances its ability to “support FIs in their digital transformation.”
This acquisition strengthens automation, efficiency, and security for commercial banks worldwide, ensuring they can “integrate innovative fintech solutions.”
CBA’s expertise in API-based banking tech, combined with United Fintech’s global reach, will drive “operational efficiency for financial institutions.”
United Fintech says it is committed to expanding its platform via acquisitions and partnerships, reinforcing its position as a fintech provider for banks “seeking digital solutions.”
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 commitment from CBA employees to the long-term vision of United Fintech, reinforcing a shared goal to “drive innovation in commercial banking technology.”
By aligning interests, this structure allows to leverage the expertise and scale solutions for FIs worldwide.
Christian Frahm, CEO & Founder of United Fintech, commented:
“CBA has a … track record of delivering innovative, high-quality solutions that help banks optimize their operations. Their technology … complements our vision of building a comprehensive digital ecosystem for financial institutions. With CBA’s talented team and expertise, we are … positioned to strengthen our digital commercial banking roadmap.”
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.”