Core banking provider Yobota has been acquired by Chetwood Financial.
In Brief:
Yobota is already the core banking provider for Chetwood Financial.
It was founded in 2016 to provide core banking for digital banks.
Yobota’s CEO Ammar Akhtar is stepping down but the rest of the Yobota team will continue to operate as a brand under the Chetwood umbrella.
What does this mean?
It’s hoped that the acquisition will extend Yobota’s banking-as-a-service capabilities and create a more “collaborative” BaaS proposition for non-financial service providers.
