GXS Bank to acquire Singapore business of Validus Group.

GXS Bank, a Singapore-based digital bank, agreed to acquire Singapore business of Validus Group, a fintech company specializing in SME financing solutions. Financial terms were not disclosed. “There are significant synergies from this acquisition. As a bank, we are leveraging our balance sheet strength, digital ecosystem, and regional network to enhance and extend Validus Capital’s digital lending solutions to more SMEs in the region," Muthukrishnan Ramaswami, GXS Bank Group CEO.