Swedish open banking company Tink has completed its acquisition of German firm FinTecSystems following regulatory approval.
FinTecSystems markets an open banking infrastructure that powers over 150 banks and FinTech’s across the DACH region (Germany, Switzerland and Austria).
The acquisition – which was agreed in May this year – will combine Tink’s pan-European platform with FinTecSystems’ product suite and expertise in the DACH market. Together, they will offer local and international customers a more comprehensive solution when partnering for open banking technology.
In addition, the acquisition will bring new FinTech and banking customers to Tink such as Solarisbank, Check24, Santander and N26.
FTS’ 78 employees will become part of Tink, with the Swedish firm now increasing its total number of employees to 600. FTS will continue to function as an independent, regulated business in Germany.
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