European open banking platform Tink has completed the acquisition of leading German open banking infrastructure fintech, FinTecSystems, following regulatory approval. FinTecSystems is thereby becoming part of Tink.
Following the acquisition, the combination of Tink’s pan-European open banking platform and FinTecSystems’ unrivalled product suite and expertise in the DACH market, will offer both local and international customers in the region the most complete solution when partnering for open banking technology.
The completed acquisition also brings fintech and banking customers to Tink, including N26, DKB, Santander, Solarisbank and Check24. FinTecSystems’ 78 employees become part of the Tink organisation, with the new DACH management team including René Sauer, Hannes Rogall and Caroline Jenke alongside Tink’s Cyrosch Kalateh. Through this completed acquisition, Tink now increases its total number of employees to almost 600.
Tink is a European open banking platform that enables banks, fintechs and startups to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions, verify account ownership and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe.
FinTecSystems will continue to function as an independent, regulated company in Germany.