SoFi all set to acquire Technisys for $1.1 Billion

SoFi Technologies is going to acquire Technisys SA  for around $1.1 billion. Technicsys, develops banking software. With this acquisition, SoFi will make its position stronger in the banking industry. Now it will control the technology used to develop mobile banking apps, open accounts, and handle all transactions. The company turned into a bank when it acquired  Golden Pacific Bancorp Inc. Two years back in 2020, it also acquired a debit card issuing company called Galileo Financial Technologies. After this acquisition, SoFi will expand and enhance its financial services and will also allow other banks and financial institutions to use its platform and gain revenue from there. SoFi was listed on the stock exchange last year. Anthony Noto, CEO of SoFi is committed to further expanding its company. He said: “We’re not slowing down. The distance between us and others is only going to increase”.