Zenus Bank makes strategic acquisition of leading payments provider
2 minute read
29 Mar 2023
Zenus Bank, the digital bank that makes U.S. bank accounts available internationally, is proud to announce the acquisition of Financial Urban Exchange LLC (FUEX Payments), a fintech specializing in real-time payments for the Caribbean and Latin American (LAC) markets.
This acquisition represents Zenus Bank's ongoing strategy to innovate and expand its service offering in the fintech industry and demonstrates its focus on delivering cutting-edge financial solutions to its customers through an effective M&A strategy.
FUEX Payments has developed innovative API solutions that enable real-time payments through major global payment card brands for businesses, governments and financial institutions.
Zenus Bank's acquisition of FUEX Payments will enable the bank to expand its offerings in the Caribbean and LAC markets. FUEX Payments' cutting-edge real-time payments technology and Zenus Bank's expertise in financial services will create a powerful platform that will enable businesses, and individuals in the region to transact more efficiently and securely anywhere in the world leveraging the power of the major card payment platforms.
"FUEX Payments has been at the forefront of the fintech revolution in the Caribbean and LAC markets, and we are thrilled to have them join the Zenus Bank family," said Mushegh Tovmasyan, Founder and Chairman of Zenus Bank.
"This acquisition will enhance our capabilities and enable us to deliver even more innovative solutions to our customers, further strengthening our position as a leader in the fintech industry."
Candido Alfonso, co-founder and CEO of FUEX Payments, said: "We are excited to join forces with Zenus Bank, a company that shares our vision for providing cutting-edge financial solutions to customers.
This acquisition will allow us to leverage Zenus Bank's expertise and resources to accelerate the growth of our real-time payments solutions in the Caribbean and LAC markets in the real time transactions and Payments-as-a-Service markets."