Powens Extends Footprints to Portugal, Increases Coverage in Germany and UK

Open Finance platform Powens has announced that it expanded its solutions in Portugal and have also significantly expanded the company's coverage in the UK and Germany.

Powens provides solutions to give financial institutions, fintech players, and business management software vendors secure access to personal and business banking transactional data while also unlocking the ability for instant account-to-account payment flows. This allows designing embedded finance experiences that attract, convert, and retain customers, according to the company.

Powens wishes to increase its presence in emerging Open Banking markets. This is stated as being the reason behind the decision to extend the coverage of the company's solutions to Portugal, according to the press release.

As noted in Powens' Fall Products Release, its team has been working to expand the coverage of its Bank and Pay products. Powens started by setting its sights on Spain and Italy and now chose to focus on growing the company's presence in Germany and the UK. Powens now offers 830+ connectors in both countries. 

The UK coverage for Powens' banking aggregation and payment services is now 81% and 83%, respectively.

The coverage for banking aggregation services in Germany is now 81%, and work is currently underway, with a specific emphasis on partners like Deutsche Bank and Volksbank, to expand payment services' coverage significantly in Q1 2023.

(Source: The Paypers)