Tink Completes Acquisition of FinTecSystems

Tink, a European open banking platform, announced on Thursday that it has completed the acquisition of FinTecSystems, one of the leading banking API and smart data providers in Germany. 

According to the official press release, 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. 

FinTecSystems will continue to function as an independent, regulated company in Germany.

The company posted the following on social media,

 "With the combination of Tink's platform and FinTecSystems' expertise in the DACH market, we can now offer customers the most complete solution when partnering for open banking technology in the region. We can't wait to get started and are very much looking forward to the future together."

As Fazzaco previously reported, Visa has planned to acquire Tink​ for a total financial consideration of 1.8 billion Euros. Tink will retain its brand and current management team, and its headquarters will remain in Stockholm, Sweden.