Zenus Bank acquires Financial Urban Exchange LLC

Zenus Bank, a digital banking services provider, has acquired Financial Urban Exchange LLC (FUEX Payments), a fintech specialising in real-time payments for the Caribbean and Latin American markets

Zenus Bank, provider of digital banking services, has acquired Financial Urban Exchange LLC (FUEX Payments), a fintech specialising in real-time payments for the Caribbean and Latin American markets

The acquisition is the latest in a series of strategic expansions involving Zenus. On 2 March, the banking services provider rolled out the first Visa Infinite Debit Card to its global audience without the need to be a US citizen or resident.

The latest launch further bolsters its position on the market, with Zenus’s acquisition of FUEX Payments enabling the bank to expand its services in the Caribbean and Latin American markets.

Mushegh Tovmasyan, chairman and founder of Zenus Bank, commented: “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

“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”, Tovmasyan added.

Candido Alfonso, co-founder and CEO of FUEX Payments, also welcomed the partnership.

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“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”, Alfonso said.