A new venture, called United Fintech, has set its sights on buying up a slate of capital markets fintechs and helping them sell their products and services to the world's big financial institutions.
The brainchild of CFH Group founder Christian Frahm, United Fintech plans to acquire and scale up a range of small to medium sized engineering-led fintech companies, all with a proven capital markets product.
The United Fintech management team - made up of people with experience at financial institutions or fast-growth technology firms - will work in partnership with the founders of these fintechs, scaling them into global organisations.
The company's first acquisition is NetDania, a Danish fintech which provides market data, APIs, market terminals, charting components and full white-labels - whether web, mobile or desktop. It has also hired Tom Robinson - former managing director and head of e-FX at both Jefferies and Goldman Sachs, as partner and head of sales.
Says Frahm: "Most fintechs globally are focused on disrupting banks. We believe in the opposite. We believe banks serve as a core part of our society and we want to partner with banks to help them to transition to a digital world.
"We need banks and financial institutions to adapt if they are going to compete favourably with the global tech firms and disruptors which are rapidly making in-roads into the financial services sector.
"United Fintech can not only help banks and financial institutions to access the latest technology but can also help with implementation including technical onboarding, vendor onboarding, technical due diligence and credit due diligence. With the current trajectory it is simply too slow for any bank to launch or access new products."