Fidor Solutions is the software subsidiary and digital banking specialist of Fidor Bank
Sopra Steria proposes to acquire Fidor Solutions. (Credit: aymane jdidi from Pixabay)
Sopra Steria (Paris: SOP), a European leader in digital transformation, today announced having entered into exclusive negotiations with Fidor Bank to acquire Fidor Solutions – the software subsidiary and digital banking specialist of next-generation bank Fidor Bank – via its subsidiary Sopra Banking Software. This transaction would reinforce Sopra Banking Software’s Digital Banking Engagement Platform (DBEP) solutions.
Fidor Solutions is the software subsidiary of next-generation bank Fidor Bank, created in Germany in 2009 and acquired by Groupe BPCE in 2016. It has 126 employees based in Munich and Dubai and addresses three main markets: Europe, the Middle East and Africa.
Fidor Solutions has developed products and digital services that meet front and middle office challenges for digital banking. Its products already boast many use cases with features expected by a digital bank. They have been implemented operationally and industrially for Fidor Bank as well as other banks in Europe, the Middle East and Africa.
This acquisition would significantly accelerate the pace of development and marketing of Sopra Banking Software’s digital solutions, in particular by augmenting the user features offered to banks through its DBEP solutions.
The proposed acquisition could be completed in Q4 2020 and is subject to customary closing conditions.
Source: Company Press Release