Braintri and iCompass Merge To Go Global

 Braintri and iCompass Merge To Go Global
19.11.2018 10:04 am

Braintri and iCompass Merge To Go Global

M&A Deals

Braintri and iCompass, two leading Polish fintechs servicing the world's largest banks and payment institutions, have begun to merge and prepare a joint offer for the global financial sector. The merger will enable the two to further expand their products and reach out to foreign markets. Until the completion of the merger, both teams will operate under their existing brands. The plan is to rebrand.

As Poland is a leader in mobile banking, Polish fintechs contribute immensely to the global financial innovation. Braintri and iCompass each has an impressive track record of market achievements.

Braintri is involved in the development of mobile banking apps for the largest Polish banks, including the FTSE large cap banking giant PKO BP and the innovation pioneer, and mobility icon mBank. It helped establish Poland's non-card payment standard BLIK, now being used by 94% of the country's population. The company is currently implementing the national open banking standard. Braintri has also created Jiffee, a token-based mobile payment technology using Bluetooth, with numerous application options in IoT, smart city, access control and loyalty programs. Jiffee is co-financed by the EU. Biffee, a core banking system offloading engine, is another Braintri product with huge global potential.

iCompass provides software for major European banks, as well as for global payment organizations, including Mastercard Payment Transaction Services. The company is a technology provider for the first Polish mPOS platform, and the developer of the universal payment gateway Octopus Payment Hub.

"The partnership is a step forward in Braintri's strategy to enter global markets," said Wojciech Zatorski, Braintri's COO.

Following its merger with iCompass, Braintri will focus on three main product lines: mobile applications, big data solutions, and payments. In addition, it plans to further develop its insurtech competence. The geographical expansion will primarily be in the EU, the Middle East, Asia, and the US. Braintri has most recently entered the UAE market.

Related News

Banco Agrícola allows the online opening of the "Cuenta Fácil" bank account with Mobbscan

Banco Agrícola, leader in El Salvador, which after the acquisition in 2007 by Grupo Bancolombia becomes a... Read more »

National Bank of Canada Joins EquiLend Ownership Group

National Bank of Canada (NBC) has completed its acquisition of a 10% stake in EquiLend from J.P. Morgan following clearance from EquiLend’s regulators in the United... Read more »

Intertrust acquires Viteos for USD 330 million

Intertrust N.V. ("Intertrust"), a leading global provider of expert administrative services to corporate, fund, capital markets and private wealth clients, today announces the... Read more »

PPRO acquires allpago to become the market leader in local payments

 PPRO, the cross-border e-payments specialist, is today announcing the acquisition of Latin American payments provider... Read more »

Trustly Merging with Silicon Valley based PayWithMyBank to Deliver Transatlantic Online Banking Payments Coverage

Trustly, Europe’s leading online banking payments provider, is pleased to announce that it is merging with Silicon Valley-based online banking payments leader PayWithMyBank.... Read more »

PayU Announced the Acquisition of Iyzico

PayU today announces the acquisition of iyzico – a digital payment services provider and one of the most hotly tipped fintech start-ups in Turkey – for $165 million. The... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel