Tink acquires German Open Banking technology provider FinTecSystems

Tuesday 18 May 2021 12:05 CET | News

Open Banking platform Tink has announced the acquisition of FinTecSystems – a German Open Banking infrastructure fintech, powering over 150 banks and fintechs in Germany, Austria, and Switzerland. 

The acquisition will strengthen FinTecSystems’ market position, with Tink further fuelling the company’s growth and open banking capabilities in the DACH region. 

FinTecSystems specialises in data analytics, digital account checks, account aggregation and open banking payments, with customers including N26, DKB, Santander, Solarisbank and Check24. With connectivity to more than 99% of banks in the DACH region, alongside leading value-added data services, FinTecSystems delivers account information in a way that enables companies to make better, data-driven and automated decisions - with three in every four online credit decisions in Germany involving FinTecSystems.

The German open banking platform has unrivalled local customer knowledge in payments, ecommerce, banking and lending – with risk decisioning and open banking payments at the core of FinTecSystems’ services. The combination of Tink and FinTecSystems will offer both local and international customers in the region the most complete solution when partnering for open banking technology.

FinTecSystems was founded in 2014, with 67 employees operating out of four offices in Germany. Following the acquisition, FinTecSystems will continue to serve new and existing customers in the DACH region, as part of Tink.

Tink’s technology and connectivity power banks and fintechs, including PayPal, NatWest, ABN AMRO, BNP Paribas and American Express. 

Founded in 2012 and headquartered in Stockholm, Tink currently serves 18 markets out of 13 local offices, with the open banking platform now used by more than 10,000 developers.

The acquisition of FinTecSystems is conditional upon approval from the national competent authorities.

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Keywords: Tink , Open Banking, acquisition, fintech
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech