IDBI Intech eyes fintech firms for takeover as it expands in Europe, Asia

Firm currently has 20 fintechs in its fold; ties up with Lemon Advisors to expand overseas

IDBI Intech Ltd, the technology services arm of IDBI Bank, is expanding into business geographies like Europe, South East Asia and Japan to provide services including digital regulatory compliance. The firm is also in talks to acquire fintech firms to boost revenue offerings, Surajit Roy, MD & CEO, IDBI Intech said.

At present it has 20 fintechs in its eco-system.

Private sector lendet IDBI Bank, which holds 100 per cent stake in IDBI Intech, is looking to divest 49 per cent stake in the Infotech firm. The lender has appointed IDBI Capital markets as advisor to rope in a strategic investor. It