Leading digital core and Banking as a Service (BaaS) provider, Mbanq, has acquired AgilityFour, an online and mobile banking platform, from FinTech investor, Park Capital.
Two senior executives join Mbanq’s leadership team as part of the deal. Alexander Lopatine, Managing Partner of Park Capital, joins Mbanq as Head of the Americas and Kai Ravnborg, previously CEO of AgilityFour, will become President of Mbanq’s Credit Union Service Organization (CUSO).
AgilityFour provides technology that seamlessly integrates next-generation web and mobile banking solutions into a bank’s existing infrastructure, so modern financial services can be implemented and upgraded without the need for a bank to risk or replace its existing core. AgilityFour also brings with it a client base that includes several credit unions.
Vlad Lounegov, Mbanq CEO, says, “The acquisition of AgilityFour will enhance and accelerate Mbanq’s US market growth. Alexander Lopatine and Kai Ravnborg are experienced industry veterans. I’m confident they can execute Mbanq’s expansion strategy across markets that include credit unions, community banks and small and medium sized financial institutions across the USA, the Caribbean and Latin America. I look forward to working with them.”
As part of its US expansion strategy, Mbanq will also open a new office and FinTech accelerator in Miami.
Alexander Lopatine, Mbanq’s Head of the Americas, says, “Mbanq already has its own advanced banking core technology and successfully creates and operates banking as a service. AgilityFour’s technology will complement this offering by providing digital banking upgrades to banks who want to keep using their existing cores.”
With 150 employees, Mbanq is one of the fastest-growing and most comprehensive BaaS and core banking providers in the world. Its advanced banking core is running as the basis of 15 banks, with a further 10 banks currently in the process of contracting or setting up. Mbanq is based in Silicon Valley and has offices and development centers in San Francisco, Germany, Croatia, Singapore and Cambodia.
Notes for editors
Silicon Valley-based Mbanq is a universal digital banking platform for traditional banks, neo-banks and FinTechs. Mbanq is a fully compliant, vertically integrated solution, that covers the entire range of banking products for retail and corporate clients, with front-to-back office functionality including finance, treasury, and regulatory reporting. www.mbanq.com
Alexander Lopatine is a recognized strategist in finance, banking and technology. In addition to his role with Mbanq, he is managing partner of Park Capital, a strategic investment firm focused on the digitization of retail banking. Lopatine is best-known as founder of Nymbus.com, where he served as CEO and raised more than $40 million from prominent VCs. www.parkcapital.io
Kai Ravnborg brings decades of expertise in the credit union industry and is an engineer by education and training. Previously, he was the founder of a core banking solution which he successfully sold to Jack Henry. Ravnborg has also held senior leadership positions with companies including CU Solutions, Symitar and Nymbus.