Allens has advised Westpac on its acquisition of personal financial management app, MoneyBrilliant.
The deal represents a continuation of Westpac's digital transformation strategy, with the MoneyBrilliant app to ultimately be integrated into Westpac's digital banking app.
'The transaction is emblematic of the acceleration of integrated digitalisation strategies and customer experience, as well as burgeoning consumer interest in banking offerings that provide holistic budgeting and cashflow management tools,' said lead Allens lawyer, Dominic Anderson.
'We were delighted to work with Westpac as it continues to expand its digital bank offering.'
The deal follows Allens' advice to the bank on its investment into cloud-native banking technology provider 10x Future Technologies and the development of its ground-breaking, technology enabled Banking-as-a-Service platform.
The sale builds on Allens' extensive portfolio of corporate work in the fintech space.
