MILAN - UniCredit on Wednesday said it was investing 370 million euros ($401 million) to acquire Belgium's digital bank Aion and Vodeno, a provider of cloud-based banking services.

Vodeno operates its own cloud platform, and UniCredit said the acquisition would bring in house a team of 200 engineers, developers and data scientists.

"The transaction represents one of the first moves by a bank to acquire full ownership of a new technology (without any dependencies from third party core banking providers)," UniCredit said.

  - Reuters