Lloyds to acquire Curve to enhance digital wallet platform

Core Insights - Lloyds Banking Group has announced the acquisition of Curve, a UK-based fintech, for up to £120 million ($157 million) to enhance its digital transformation efforts [1][2] - The acquisition is expected to be completed in the first half of 2026, pending regulatory approval, and will not materially impact Lloyds' financial guidance for 2025 or 2026 [2] - The integration of Curve's technology aims to provide a next-generation digital banking experience, allowing customers to manage their finances more conveniently [3][4] Company Overview - Curve, established in 2015, operates a digital wallet platform that consolidates various payment sources into a single secure platform, offering money-saving and loyalty features [3][4] - Curve is authorized and regulated in the UK and EEA, processing payments through its technology platform [4] Strategic Implications - The acquisition will expand Lloyds' digital capabilities, enhancing payment flexibility for its 28 million customers, including features like switching past purchases across accounts and avoiding foreign exchange fees [4][5] - The partnership is expected to accelerate Curve's mission to simplify financial management for users, enabling greater financial accessibility for millions [5][6]