Payward acquires Finland's Saldo Bank to expand its European banking business
Payward Expands Banking Reach by Acquiring Finland’s Saldo
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Kraken parent company Payward announced the acquisition of Finland's Saldo Bank to advance Payward Banking's European banking business. Saldo serves customers in Lithuania, Finland, Sweden and Germany, and holds a passport to operate in the Netherlands; combined with Payward's infrastructure, the transaction is expected to support services including interest-bearing deposits, lending, passporting, card issuance and lending for SMEs.
The transaction combines an EU banking license with Payward's existing regulatory infrastructure and Saldo's coverage across five countries, showing its path to expanding banking, payments and lending services in Europe.
Source:PYMNTS · pymnts.com