Techcrunch | Mary Ann Azevedo, Ingrid Lunden  | Jun 9, 2023

Image: Unsplash/Patrick Tomasso

FIS, a renowned player in the fintech industry, has strategically acquired Bond, a startup excelling in banking-as-a-service (BaaS) and AI-powered financial infrastructure.

• M&A:
  • FIS, a leading fintech company, has acquired Bond, a San Francisco-based startup specializing in banking-as-a-service (BaaS) or embedded finance. Bond’s technology includes AI-powered infrastructure and APIs enabling brands to offer banking products such as credit cards, debit cards, and accounts.
  • The acquisition comes amid a period of consolidation in the fintech sector, with larger companies acquiring startups to enhance their technology and talent pool. This reflects a trend where established players in the fintech industry are competing to modernize their products and services.

See:  FIS Report: Embedded Finance, Web3 and ESG Lead 2023 Fintech Investment Focus

• Impact:
  • This acquisition is important as it signifies a strategic move by FIS to integrate cutting-edge technology in embedded finance, which is rapidly becoming a cornerstone in fintech innovation.
  • By acquiring Bond, FIS is positioning itself to offer a more diverse and competitive set of services to its clients. The impact of this could be far-reaching, potentially reshaping the fintech landscape by setting a new benchmark in the fintech landscape, making it imperative for competitors to adopt groundbreaking technologies for staying ahead in the race.

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#FIS #Bond #fintech #BankingAsAService #embeddedfinance

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