In a potential game-changing deal, Lloyds Banking Group is reportedly in advanced talks to acquire UK-based fintech Curve, according to Sky News via Finextra. The acquisition, still under negotiation, could be one of the most notable moves by a traditional UK bank into the consumer fintech space since the Monzo and Starling boom.
The reported deal size has not been confirmed, but sources suggest it would be a modest acquisition, signaling strategic intent more than financial scale.
What Is Curve — And Why Does It Matter?
Founded in 2015, Curve offers a unique value proposition:
- A smart card and app that consolidates all your debit and credit cards into one
- Features like “Go Back in Time” to switch payments between cards retroactively
- A growing base of millennial and Gen Z users focused on flexibility and transparency
Curve isn’t a bank, but it offers services like credit, rewards, and BNPL-like features — essentially functioning as a financial control layer on top of your existing bank accounts.
Lloyds’ Play: Defensive or Strategic?
For Lloyds, acquiring Curve would mark:
- A move to modernize its consumer experience
- A signal that it wants to compete not just on products, but on user experience and aggregation
- A way to future-proof its offering against fintechs that are rapidly eating into bank-brand loyalty
It would also follow a pattern seen across Europe: legacy banks buying nimble fintechs to stay relevant — rather than building in-house alternatives that rarely gain traction.
The Fintech M&A Wave Continues
This development adds to a growing list of acquisition targets and strategic alliances between traditional banks and consumer fintechs:
- Swedbank’s acquisition of Stabelo
- Revolut’s expansion into M&A
- Coinbase acquiring LiquidityFi
As valuations stabilize and VC funding tightens, banks see value in buying rather than building.
Conclusion: A Sign of the Times for UK Fintech
Whether or not this deal is finalized, it highlights the evolving dynamics in UK financial services. The lines between banks and fintechs are blurring — and acquisitions like this show that customer experience is becoming the new battleground.
For Lloyds, Curve may be more than an app. It could be a bridge to a generation of customers expecting more than just traditional banking.
