Mbanq, has acquired AgilityFour, an online and mobile banking platform from investor Park Capital.
Two senior executives join Mbanq’s leadership team as part of the deal. Alexander Lopatine, Managing Partner of Park Capital, joins Mbanq as Head of the Americas and Kai Ravnborg, previously CEO of AgilityFour, will become President of Mbanq’s Credit Union Service Organization (CUSO).
AgilityFour provides technology that seamlessly integrates next-generation web and mobile banking solutions into a bank’s existing infrastructure, so modern financial services can be implemented and upgraded without the need for a bank to risk or replace its existing core. AgilityFour also brings with it a client base that includes several credit unions.
Vlad Lounegov, Mbanq CEO, says, “The acquisition of AgilityFour will enhance and accelerate Mbanq’s US market growth. Alexander Lopatine and Kai Ravnborg are experienced industry veterans. I’m confident they can execute Mbanq’s expansion strategy across markets that include credit unions, community banks and small and medium sized financial institutions across the USA, the Caribbean and Latin America. I look forward to working with them.”