Tink is continuing its European expansion with the buyout of German Open Banking company FinTecSystems.
The FinTech, which is active across 150 banks and other FinTechs in Germany, Austria, and Switzerland, specialises in data analytics, digital account checks, account aggregation, and Open Banking payments.
“Germany is a key market for Tink, and we are excited to have acquired an innovative leader with a strong reputation for the quality of its bank connectivity and payments services,” said Daniel Kjellén, co-founder and chief executive, Tink. "We have followed FinTecSystems for many years and are impressed by what they have achieved.
Kjellén added: "Through this acquisition, we are taking a big step into the DACH region, and we look forward to supporting the FinTecSystems’ team to further accelerate their growth.”
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