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In todays top news, Billtrust and South Mountain Merger Corporation have entered into a definitive business combination agreement, while Paya became the latest FinTech to join the ranks of publicly traded companies. Plus, i2C has become part of Visas FinTech Fast Track program.Billtrust to Go Public via SPAC at $1.3B ValuationBilltrust, the B2B order-to-cash solutions provider, and special purpose acquisition company SPAC South Mountain Merger Corporation said they have entered into a definitive business combination agreement. The combined company will continue as a publicly listed group.Paya Debuts on Nasdaq, Shares Close up 10 PctPaya became the newest FinTech to join the ranks of publicly traded firms, as it made its market debut on Monday Oct. 19 . The rollout comes after a vote by investors of a SPAC, FinTech Acquisition Corp. III, to approve a business combination with Paya and modify its name to Paya Holdings.i2c Joins Visa FinTech Fast Track Programi2c has joined with Visas FinTech Fast Track Program in the United States, Canada and the CEMEA region as a new enablement partner, allowing for quicker connections with the payment giants many programs.
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Germanys Deutsche Bank has gradually been shrinking its operations in the last few months after announcing last April that it would be divesting its retail banking unit and reducing the size of its investment banking arm. Reports Friday Sept. 18 said the bank has just moved closer to those goals.Deutsche Bank said Friday it will be pulling its corporate banking operations out of Russia.[bctt tweet=Deutsche Bank said Friday it will be pulling its corporate banking operations out of Russia.] Deutsche Banks Russian corporate finance and markets businesses will now operate from international hubs, the institution said in a statement, adding that the decision aims to reduce complexity, costs, risks and capital consumption. The company said it plans to finalize the departure by the end of this year, according to reports.While the company was reportedly one of the top 10 investment banks in the nation, Deutsches decision to exit the market did not come as a surprise following previous rumors of the move, as well as several ongoing regulatory troubles in the nation.According to reports, Deutsche Bank launched an intern
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