Alternative banking company IFX Payments to acquire fellow UK fintech Argentex Group PLC

Alternative banking partner IFX Payments have reached an agreement in principle to acquire Argentex Group PLC, a publicly listed FX options and electronic money institution, bringing together two established players in the UK Payments and FX space.

This strategic acquisition is part of the business’s wider mission to become the number one service-led alternative banking partner in EMEA for corporates and Financial Institutions, creating value beyond the transaction.

The acquisition, if completed, will allow IFX to expand its regulated capabilities, enhance their institutional client reach and strengthen their offering to include various structured FX products and fund related services.

In turn, Argentex Group PLC’s existing client book will be able to make use of IFX’s technical capabilities and ibanq platform.

Will Marwick, CEO of IFX Payments, said, “We are very pleased to announce the proposed acquisition of Argentex, which will enhance our regulated capabilities, diversify our product portfolio, particularly in FX risk management and institutional offering, and further expand our geographical reach and network. We look forward to the Argentex team joining us and working together towards our shared ambitions in the rapidly growing global payments and currency risk management solutions sectors.”