UniCredit, an international banking group headquartered in Milan, is set to acquire the Banking-as-a-Service (BaaS) platform Vodeno and Belgian digital bank Aion for €370 million, bringing 200 engineers, developers, and data scientists into its fold. This acquisition allows UniCredit to leverage Vodeno’s advanced technology to innovate and offer tailored financial solutions, positioning itself firmly in the embedded finance sector. The move highlights a growing trend of traditional banks expanding into comprehensive embedded finance to better compete with fintech companies.
UniCredit to Acquire Banking-As-A-Service Venture Vodeno and Belgian Digital Bank Aion
