TECHNOLOGY
The role of M & A in growth and recovery As smaller fintech companies and some unicorns struggle to maintain profitability and their high valuations , mergers and acquisitions look set to increase . Larger companies deadline better in the current climate and have the opportunity to expand their offerings and customer base by acquiring other fintechs .
Mike Kiersey , Head of Sales Engineering , EMEA for Boomi , explains : “ A clear post-merger integration plan is vital for maintaining businesscritical applications , IT systems and data . Both companies involved need to understand the importance of a harmonised infrastructure , and the severe implications of a failure to integrate two different systems .”
He says that in order for M & A to benefit smaller companies , business integration needs to be swift , broken down into manageable chunks , and with seamless application and data integration for all services . “ In this way , data points become more accessible and clear , united by a master data management solution able to cross departmental and geographic borders in an agile yet controlled manner .” He concludes , “ At the crux of M & A success lies a strategy that makes data accessible and provides the correct governance . For a fully successful merger , both parties need the ability to access raw data from a single platform , from which the company can decide which innovation approach to take for customers , partners and employees moving forward .”
Speaking about Revolut ’ s own expansion journey , Silva says : “ We want to keep growing , both in terms of numbers of customers and markets . We now serve more than 20 million customers across the UK , Europe , US , Australia , Japan , Singapore and we will soon launch the Revolut app in India , Mexico and Brazil .”
He adds : “ Our goal is to become a truly global financial super app so that people across the globe can open an account in a few minutes , at any time , and access the services they need to manage their money .”
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