Stockholm’s open banking platform Tink has acquired Munich-based FinTecSystems. With the purchase, Tink will make large inroads into the DACH region, while FinTecSystems’ leading market position will only be strengthened. Tink is reporting that business will carry on as normal at FinTecSystems, with no staff reductions or changes planned.
Terms of the acquisition were not disclosed.
Founded in 2014 by Dirk Rudolf and Stefan Krautkrämer, FTS counts 67 employees distributed across four offices in Germany. With their focus on data analytics, digital account checks, account aggregation, and open banking payments, FTS provides support for some of the biggest names in the banking industry including N26, DKB, Santander, Solarisbank, and Check24. The company reports connectivity to 99% of banks in the DACH region, with three out of every four online credit decisions in Germany involving their technology in one way or another.
“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,” comments Krautkrämer. “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.”