Why did UniCredit acquire Vodeno and Aion Bank?

In this episode, Lars Markull is speaking with Shaul David, a London based embedded finance expert. Shaul was head of banking at the British banking-as-a-service provider Railsr from 2019 to 2023 and has extensive experience in the sector.

Last week, Italian bank UniCredit announced that it is acquiring Polish banking infrastructure provider Vodeno and Belgian Aion Bank. Both companies jointly offer a banking-as-a-service product in the EU. This acquisition is not the first time a European bank is acquiring a banking-as-a-service provider, but it might be the biggest one so far. Shaul and Lars are speaking about what we know about the acquisition and what this could mean for embedded finance and the banking landscape.