DWF acts for Equiniti on two further FinTech acquisitions

Legal business DWF has advised Equiniti on its acquisition of KYCnet BV, a leading Know-Your-Customer (KYC) technology and services provider, which helps organisations verify and on-board their customers, and on its acquisition of RiskFactor, which will enhance Equiniti’s fraud detection and prevention capabilities.

Equiniti Group plc is a leading provider of technology led solutions to clients with complex and regulated administration needs, and the acquisition of KYCnet is another in Equiniti’s growth strategy of integrating scalable technology platforms to provide regulation driven non-discretionary services to some of the leading businesses in the UK. The broad applicability of KYC technology to all anti-money laundering applications will benefit Equiniti and will create cross selling opportunities to existing clients in sectors such as travel, retail, utilities and financial services.

KYCnet’s flagship product is KYC Passport, an enterprise workflow management platform for retail and B2B customer on-boarding and due-diligence. KYCnet was the first company to adopt a ‘KYC as a service’ model, and has eight years of operating exclusively in the KYC sector, deep domain knowledge and experience of working with leading financial institutions and banks across Europe.

RiskFactor is a market leading provider of fraud analytics software for commercial finance lending that complements Equiniti’s other ‘control risk’ capabilities.

Fraud is a hot-topic within the retail and business banking sector, where increasing numbers of payments are made online and through multiple disparate channels (online, mobile, B2B, B2C). Regulation, operational risk management, big data trends and the commercial benefits of fraud prevention are driving demand for effective fraud detection in the sector.

Guy Wakeley, Chief Executive of Equiniti, said: “We are excited to be delivering on our strategy of developing and acquiring specialist technology platforms with the acquisitions of KYCnet and RiskFactor. KYCnet is an innovative FinTech business which will help our customers reduce regulatory risk and improve their operational efficiency. Existing clients have already enquired about our KYC capabilities and KYCnet presents excellent cross-selling opportunities".

James Brown, Director of Corporate Development of Equiniti, said: "DWF, as our retained adviser on acquisitions, provided us with exceptional support on both acquisitions, ensuring we concluded the transactions in good time.”

The core DWF team, acting for Equiniti on both acquisitions, consisted of Frank Shephard, Lisa Stavropoulos, Nick Hawthorne, Katy Philips and Matt Judge.

 Frank, who led the deals, said: “We are delighted to have acted on Equiniti’s first two acquisitions post IPO, building on the number of acquisitions we have undertaken for the company previously. The deals again demonstrate our experience in cross-border and FinTech transactions driven by our focus on sector-driven specialisation. We continue to be very active in the financial services and technology sectors which have great potential for growth.”

Frank Shephard

Partner - National Head of Corporate

I am Head of the National Corporate Team. I deal with all types of public and private company transactions, including M&A, Private Equity and Equity Capital Markets.

Lisa Stavropoulos


I am a Director in the Corporate team specialising in mergers & acquisitions, equity capital markets, private fundraising, joint ventures and corporate governance.