London-based fraud prevention fintech SEON has acquired anti-money laundering software company Complytron for an undisclosed amount. 

The deal has been in the works since April 2022, as SEON aims to improve its compliance and screening capabilities, SEON Chief Executive Tamas Kadar told Bank Automation News.

“A lot of companies, especially given the current [macroeconomic conditions], are looking for solutions to consolidate their different services and service providers’ offerings,” Kadar said, adding there is increased client interest for compliance checks and to provide improvements to the company’s fraud product. 

The acquisition augments SEON’s AML offerings, allowing the company to combat financial crime via connection to watch lists across 50 countries, reducing reduce potential fraud, Kadar added. 

SEON’s integration process with Complytron’s systems is complete,, and the company’s AML capabilities are available through SEON’s website free for users with options to add features or services for a cost, according to SEON. 

NatWest acquires Cushon for savings

London-based National Westminster Bank (NatWest) purchased 85% of savings and pension of fintech Cushon in a $174 million acquisition, with expectations to buy the remaining 15% later this year. 

The purchase will expand the $1 trillion bank’s savings and workplace pension options, allowing NatWest to offer a new suite of financial well-being services, according to a bank release. 

“By entering this fast-growing market, we are equipping ourselves with the tools to develop a proposition which responds to our customers’ changing needs whilst delivering value-driven sustainable growth and returns,” NatWest Chief Executive Alison Rose said in the release. 

Wirex partners with Visa on expanded crypto payments

Cryptocurrency payments platform Wirex has announced a partnership with Visa to expand crypto payments in areas such as Asia and the United Kingdom. 

Through the partnership, London-based Wirex plans to issue crypto-enabled debit and prepaid cards in 40 countries, including the U.S., a release from the company said. 

“Visa wants to bring more payment options to consumers by connecting digital currencies with our network of banks and merchants,” said Matt Wood, Asia Pacific head of digital and fintech partnerships at Visa, in the release. 

Wirex also plans to offer new products to help people utilize crypto in their everyday lives, improve the user experience, and pilot blockchain initiatives, the release said. 

NewDay chooses Checkout.com as payments provider

London-based consumer credit provider NewDay has tapped digital payment fintech Checkout.com as its provider for debit card payments. 

The partnership allows NewDay to streamline its payment processes, operations and reporting, according to a company release. 

“We’re modernizing our payments infrastructure with granular reporting, offering complete insight into performance in near-real-time,” said Stephen Payne, director of financial control at NewDay, in the release. “Our partnership with Checkout.com will enable us to rapidly increase the pace of our innovation to deliver new forms of responsible credit to market quicker.” 

NewDay will add Checkout.com’s suite of payment tools, including authentication, fraud detection and reconciliation in a single integration to help with NewDay’s cost savings, the release said. 

BNP Paribas teams with digital insurer Lemonade

Paris-based BNP Paribas has tapped digital insurance platform Lemonade to assist with offering renter’s insurance to the bank’s customers. 

The $3.2 trillion bank chose Lemonade for its protection solutions to help meet the expectations of BNP Paribas’ younger client base, a release from the bank said. 

“We share a real commitment to combining the expertise of the two partners in order to facilitate access to insurance via digital channels while delivering top quality services for policyholders throughout the term of their insurance cover,” BNP Paribas Deputy Chief Executive Officer Fabrice Bagne said in the release. 

Bank Automation Summit US 2023, March 2-3 in Charlotte, is a crucial event on automation technology in banking and will feature a fireside chat with Brinda Bhattacharjee of Goldman Sachs & Co. Register here. Learn more and register for Bank Automation Summit US 2023.