News

Illimity, Fabrick partner for an open banking platform in Italy

Wednesday 23 September 2020 13:36 CET | News

illimity, Banca Sella, Fabrick, and Hype have approved the agreement for the entrance of illimity in HYPE, thus giving rise to a Joint Venture equally owned by illimity and Fabrick.

The aim of the industrial combination is to increase the ambitions of the project and the simultaneous acceleration of the growth of HYPE, which already serves 1.3 million customers. At the same time, the deal aims to accelerate the development plans of illimity in this specific industry segment, increasing the fintech’s development potential in ‘light’ banking services, and the plans of Fabrick as an enabler of Open Banking and new generation fintech projects. 

The agreement provides for the incorporation into HYPE of the new Open Banking solutions developed by illimity in 2020, accelerating its development in terms of execution, volume growth, cross-selling, and profitability, according to the official press release.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Illimity, Banca Sella, Fabrick, Hype, open banking platform, Italy, HYPE, joint venture, fintech, light banking services, light banking, open banking, fintech projects, open banking solutions
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Italy
This article is part of category

Banking & Fintech