UniCredit acquires Vodeno and Aion Bank to enhance digital banking capabilities

UniCredit SpA has announced a binding agreement to acquire the entire share capital of Vodeno Sp. z oo and Aion Bank SA/NV for approximately EUR 370 million. This strategic acquisition will provide UniCredit with an innovative, scalable cloud-based platform and a full-fledged Banking-as-a-Service (BaaS) solution. Vodeno’s cutting-edge core banking technology, combined with Aion Bank’s financial services, will allow UniCredit to enhance its internal technology capabilities, expand into new European markets, and offer embedded finance solutions to various sectors including e-commerce, fintechs, and retailers.

The acquisition is expected to close in Q4 2024, pending regulatory approvals, with minimal impact on UniCredit's consolidated CET1 ratio.

Source: UniCredit