Digital transformation group for FIs United Fintech has announced that it has acquired Trade Ledger, aiming to further advance the implementation of AI in banking.
Through this deal, as part of which United Fintech acquired 100% of Trade Ledger, the company is set to benefit from the latter’s customer base that includes Barclays and Bank of Queensland, as well as its expertise in data-driven lending and commercial banking automation.
Serving the needs of FIs through AI
As part of the transaction, Trade Ledger will see no modifications to its leadership and brand identity; however, it will become an integral component of United Fintech’s Commercial Banking division. Structured as an all-share deal, the acquisition falls in line with the long-term interests and commitments of both companies. According to the official press release, Trade Ledger’s founders have exchanged their shares for equity in United Fintech, underlining their confidence in the shared objective and expansion potential of the combined organisation.
Furthermore, acquiring Trade Ledger comes shortly after United Fintech integrated with CBA, with the move adding payments and trade finance capabilities to the company’s operations. With these two initiatives, United Fintech intends to serve the scaling demand from banks for AI-enabled solutions and establish solid synergies between payments and commercial banking technology, improving the group’s position as a strategic partner supporting financial institutions in automating workflows, optimising credit decisioning, and accelerating digital transformation.
Talking about this deal, representatives from United Fintech emphasised that, together with the previous integration of CBA, the acquisition of Trade Ledger will allow the company to develop a complete digital infrastructure for commercial banking, which incorporates lending, trade finance, and payments. Additionally, through its ecosystem, United Fintech plans to increase innovation worldwide and provide financial institutions with the intelligent infrastructure they require to advance their operations during the rise of AI.
When it comes to Trade Ledger, working with United Fintech will enable the company to benefit from the group’s expertise, scale, and global reach, allowing it to accelerate its objective of improving how banks use data and technology to serve their customers.
