MVB Financial Corp. Acquires Chartwell Compliance
Summary
The move further reinforces MVB’s 3.0 strategy of seeking “blue ocean” opportunities and differentiates MVB’s expanding Fintech vertical with its commitment to regulatory and compliance excellence. It is one of the world’s leading specialist firms in state and federal compliance and market entry facilitation for firms entering into or expanding in North America, serving many of the most high-profile providers of the Fintech industry, such as commercial bill pay solution providers, crypto currency and blockchain innovators, publicly-traded online marketplaces, money services businesses, venture capital firms, Fintech banks, third party payments processors and financial accounting software providers. Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Forward-looking statements include, without limitation, information concerning possible or assumed future results of operations of the Company and its subsidiaries, as well as statements regarding MVB’s intent to recognize a holding gain on its equity investment in fintech companies and the anticipated use of the proceeds from such gains, as well as MVB’s future plans with regard to its fintech line of business. Those factors include but are not limited to: credit risk; changes in market interest rates; revaluation of equity investments, including MVB’s investments in fintech companies; inability to further scale up the fintech line of business; competition; economic downturn or recession; and government regulation and supervision.