Lloyds in discussion to buy the FinTech Curve

The British Bank Lloyds Banking Group would be in the process of discussing the acquisition of the British FinTech Curve. The latter specializes in map aggregation. Its service makes it possible to link all its payment cards to a single Curve payment card. In particular, it defended great ambitions against Apple Pay in Europe last year.

FACTS

• The official information concerning the acquisition of Curve by British bank Lloyds has not yet been disclosed by the main interested parties. This operation is currently at the stage of rumour, but has been relayed by Sky News, which refers to sources close to the case.

• The media even has a potential amount for the hypothetical transaction, which could be estimated at a maximum of £120 million (about €138 million).

• The negotiations between Lloyds Banking Group and Curve would be well advanced. The transaction could even be completed by the end of September.

ISSUES

• Continuing its activities Curve has faced financial difficulties in recent months and has started a sales process, considering several potential buyers. Society received Samsung Next's financing in June 2024, presenting this investment as a means of imposing itself as the first concrete alternative to Apple Pay.

• Further diversification Lloyds, via this operation, would continue its digital diversification strategy and its expansion into the value-added services related to payment, in particular to Young people and customers followers ofinnovative offers. This agreement with Curve would thus strengthen the bank's presence in digital payment infrastructures.

PERSPECTIVE

• Sky News states in the announcement of this potential buyback that if the proposed price range (fixed between £100 million and £120 million) proves to be accurate, this would represent a lower valuation than the £133 million raised by Curve during his round-table C series in 2023.

• This potential buyback comes as the major UK banks seek to accelerate theirdigital transformationIn the face of increasing competition from neo-banks (Monzo, Starling Bank or Revolut) in Europe. For Lloyds, integrating Curve is also a way to develop a banking aggregation tool that offers advanced user experience, a wealth of transactional data, and a lever to retain a young customer, usually volatile in the traditional banking market.

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