thewealthnet

Wealthtech: News in brief

News Team, 31/03/2020

Fintech firm FNZ has had its takeover of GBST questioned by the Competition and Markets Authority (CMA).

The CMA said it is concerned that the firms are already operating in a concentrated market, and that the £150 million deal will make it more difficult for smaller players to enter the market.

FNZ has been told it must address the authority’s concerns within five days, or else be subject to further investigation.

GBST builds custom technology solutions for broking, banking, wealth management, and financial services.

The merger completed in November 2019.


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