ATB Financial acquired the technology assets of Grow Technologies to bring a new, enhanced digital experience to its customers.
With ATB’s acquisition of Grow, customers will soon have access to an easy-to-use and time-saving digital platform that will significantly improve their banking experience.
Grow is a fintech company known for delivering exceptional, AI-powered customer experiences with hyper-personalized financial insights. The assets acquired include Grow’s digital account and loan origination platform, FinSnap financial insights technology, and other proprietary digital banking technology solutions.
“For over 81 years, ATB Financial has offered the best financial advice, banking solutions and services for Albertans,” said Curtis Stange, president and CEO of ATB Financial. “With the Grow assets and team, we are strengthening that position by accelerating our digital experience for our customers. This acquisition is part of our strategy of putting customers first while driving growth to support Alberta’s economy.”
“The entire Grow team is proud to serve ATB’s customers and provide them with an outstanding digital experience,” said Kevin Sandhu, founder and CEO of Grow. “We’re also excited to be joining ATB—a strong, values-driven financial organization that is recognized as one of Canada’s top places to work and one of Alberta’s most-loved brands.”
The majority of Grow’s team members, including Sandhu, will transition to the ATB team. ATB customers will begin to experience these new digital services within the next few months.
Deloitte Corporate Finance acted as exclusive financial advisor to ATB on this transaction.
Founded in 1938 and based in Alberta, ATB Financial has 174 branches, 141 agencies, a client care center, four entrepreneur centers, and mobile and online banking, along with $54.2 billion in assets.
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!