Tink, the Swedish open banking start-up, has acquired German provider FinTecSystems (FTS) as it pushes on with European expansion. FTS is Germany’s third homegrown open banking firm to be acquired or merged in recent years. In December 2018, German credit bureau Schufa acquired a majority stake in Munich-based FinAPI. Schufa’s owners include Deutsche Bank and Commerzbank. Founded in 2014, FTS has grown to 67 employees Then in March 2019, banking and API provider Figo joined forces with Finreach. Two players, Ndgit and BANKSapi, still operate as independent start-ups in the region. Regtech and insurance In the last year, international players including…
Tink acquires German open banking provider FinTecSystems
Tink acquires German open banking provider FinTecSystems
