Open Banking platform Tink acquires Germany’s FinTecSystems
Tink are continuing their expansion across Europe with the acquisition of FinTecSystems – a leading German open banking technology provider, powering over 150 banks and fintechs in Germany, Austria and Switzerland. The acquisition will strengthen FinTecSystems’ leading market position and offer both local and international customers in the region the most complete solution when partnering for open banking.
Founded in 2014, FinTecSystems (FTS) has grown to become a leading open banking platform in the DACH region, and now it’s teaming up with the leading open banking platform in Europe – as Tink takes a big leap into the DACH market by acquiring FTS.
With 67 employees operating out of four offices in Germany, FTS specialises in data analytics, digital account checks, account aggregation and open banking payments, with customers including N26, DKB, Santander, Solarisbank and Check24. FTS has high-quality connectivity to more than 99% of banks in the DACH region, alongside leading value-added data services, enabling FTS to deliver account information in a way that helps companies make better, data-driven and automated decisions. Three in every four online credit decisions in Germany involve FTS.
Joining forces for growth
Germany is a key market for Tink. They have followed FTS for many years and are impressed by what they have achieved. 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 FTS’ services. The combination of Tink and FTS will offer both local and international customers in the region the most complete solution when partnering for open banking technology.
Following the acquisition, it will be business as usual for FTS, who will continue to serve new and existing customers in the DACH region, as part of Tink.
“We are proud to have built the leading open banking platform in DACH, serving some of the biggest and most innovative financial institutions and fintechs in the region,” said Stefan Krautkrämer, Co-Founder and Managing Director of FinTecSystems. “Now we are equally proud that FinTecSystems will become part of Europe’s leading open banking platform. By joining forces with Tink, there is a unique opportunity to further strengthen FinTecSystems’ position as the open banking leader in the region, and better support our clients to expand across Europe.”
Through this acquisition, Tink are taking a big step into the DACH region and accelerating growth at the same time.