Tink, a Swedish open banking platform, accomplished the acquisition of FinTecSystems, a Germany primarily based open banking infrastructure fintech companyy, following regulatory approval.
The quantity of the deal was not disclosed.
Following the acquisition, the mixture of Tink’s pan-European open banking platform and FinTecSystems’ product suite and experience within the DACH market, will supply each native and worldwide prospects within the area a xomprehensive answer when partnering for open banking know-how.
The finished acquisition additionally brings fintech and banking prospects to Tink, together with N26, DKB, Santander, Solarisbank and Check24. FinTecSystems’ 78 workers turn into a part of the Tink group, with the brand new DACH administration group together with René Sauer, Hannes Rogall and Caroline Jenke alongside Tink’s Cyrosch Kalateh.
Via this accomplished acquisition, Tink now will increase its complete variety of workers to nearly 600. FinTecSystems will proceed to perform as an unbiased, regulated firm in Germany.
Based in 2012 in Stockholm, Tink is an open banking platform that permits banks, fintechs and startups to develop data-driven monetary providers. Via one API, the system permits prospects to entry aggregated monetary information, provoke funds, enrich transactions, confirm account possession and construct private finance administration instruments. Tink connects to greater than 3,400 banks that attain over 250 million financial institution prospects throughout Europe. The corporate serves greater than 300 banks and fintechs in 18 European markets, out of places of work in 13 international locations.