The Competition and Markets Authority has ordered an “in-depth” investigation into ‘platform engine’ FNZ’s purchase of competitor GBST.

The Competition and Markets Authority has blocked FNZ’s purchase of ‘platform engine’ rival GBST from going ahead and ordered FNZ to address its concerns.

The Competition and Markets Authority is set to rule on the merger of the FNZ / GBST platform engines by the end of March.

FNZ, the fintech firm running several UK platforms, is to acquire Dublin-based third-party admin provider Irish Progressive Services International (IPSI) from Irish Life.