FIS would be acquiring UK supply chain finance company Démica in a $300 million deal.
The two sides reached an agreement last weekSky News reportedciting anonymous sources. An announcement would be forthcoming.
FIS did not immediately respond to PYMNTS’ request for comment. A Demica spokesperson said the company does not comment on rumors or market speculation.
The news came a few weeks after Demica announced in a press release that its assets under administration exceeded 40 billion dollarswhile the compound annual growth of assets on the company’s platform since 2016 was over 40%.
“These figures reflect Demica’s position as a long-term partner to institutions in this sector, supporting sustained growth as the global appetite for supply chain financing continues to grow,” said the CEO of Demica. Matt Wreford said in a press release. “More and more commercial banks are viewing our technology as a way to deliver increasingly innovative products and services to their clients, while our corporate clients benefit from the scale and flexibility of liquidity that has been more needed than ever in 2024.”
The company has worked with lenders such as Lloyds Bank And Chartered standardand earlier this year helped a French investment bank Crédit Agricole CIB launch its new receivables and supply chain finance platform in the Asia-Pacific region.
“The current financial landscape represents a golden age of working capital and integrated financial solutions designed for businesses looking to grow and compete,” PYMNTS reported Friday (Dec. 13).
Solutions such as integrated buy now, pay later (BNPL) for B2B can help businesses reduce friction in sourcing and selling, thereby increasing liquidity and operational efficiency.
“Whether it’s dynamic discounts, integrated financial solutions or innovative receivables programs, liquidity is no longer just a finance team’s concern: it’s a strategic imperative.
In the meantime, Christine WagnerGTM Senior Vice President for Automated Finance at FIS spoke to PYMNTS in November about efforts to simplify the payment process for companiesa user base that We now expect consumer-grade experiences within professional applications.
“Design applications that not only simplify processes for financial professionals but also It is crucial to offer intuitive and transparent interfaces to users who may not be tech-savvy,” she said.
