The two well-known fintech pioneers are about to merge and form the leading European Software-as-a-Service (SaaS) API platform for finance
Markus Dränert, Cornelia Schwertner and Taner Akcok will form the management team in the the Berlin and Hamburg locations
Berlin/Hamburg, March 5th, 2019 - Banking service provider, figo, and fintech platform finreach solutions, laid the groundwork on March 4th for their plans to henceforth operate as one company, subject to the approval of the Federal Financial Supervisory Authority (BaFin). The planned merger of the fintech companies, both nationally and internationally successful, is proceeding as a merger of equals. The consolidation of figo and finreach solutions is the logical result of a pre -existing, long-lasting partnership. Both companies are pioneers in their respective sectors, as they have developed into leading service providers. Together, they will reach a new level in the European market.
With our consolidation, we are responding to the growing market need for specific applications that go beyond data connectivity. Our goal is to become the leading fintech platform that delivers high quality SaaS applications and API solutions – pan-European and PSD2-licensed.says Markus Dränert, CEO of finreach solutions.
Our core target group are companies of various industries that have a broad consumer customer base and are offering innovative financial solutions, or prospects that intend to offer financial services in the near future. Our API services bring significant added value to the product offerings of our partners, and with them, a stronger relationship to their customers. We are working very focussed to realize our vision: To Unlock Consumer Financial Potential With One Click.added Dränert.
CEO Markus Dränert, CRO Cornelia Schwertner and CPO Taner Akcok (from left) (Picture: Robert Lehmann)
Dränert joined finreach solutions in September of 2018. In the CEO role, he will lead the company, which will merge gradually over the course of 2019, together with Cornelia Schwertner, Chief Risk Officer (CRO) of figo, and Taner Akcok, Chief Product Officer (CPO) of finreach solutions. André M. Bajorat, the CEO of figo up until now, will soon join the supervisory board of the new company. He will also bolster the team at finleap, the leading fintech ecosystem in Europe, where finreach solutions was developed. As a lead investor, finleap will also invest a seven-digit sum to finance the further growth.
Each company is already strong within their dedicated area of business. Together, we will be able to offer a much broader range of digital financial products for current and new customers of our shared target group, as well as expand the scope and quality of the database of these services. The combination of our expertise in data protection, PSD2 and information security, as well as the operations in German data centers, makes us an even more reliable service provider. These strengths, united on one platform, are our cutting-edge advantage in the face of competition. Others might have the same vision, but we have already demonstrated that we are able to deliver and will do so together in the future.says Cornelia Schwertner, CRO of figo.
We are delighted that with the merger and the new team size of about 90 employees we will gain much more power to serve the market. This will enable us to be even more innovative and to operate at higher speed. In addition, the team and new colleagues will be able to choose between two very attractive locations to work from.says Markus Dränert.
The banking service provider figo and the fintech platform finreach solutions are joining forces, and will work together at the Berlin and Hamburg locations in the future. Together, both fintech companies offer their current and future business customers a broad spectrum of digital finance products, based on relevant data sources and in compliance with PSD2 regulations. Previously, finreach solutions has successfully implemented digital SaaS solutions, such as digital account switching for bank partners like Deutsche Bank, DKB and Postbank, all under the FinReach brand. figo is a pioneer in the Smart Data Connectivity, Open Banking and License-as-a-Service fields, and is the first German provider to hold a corresponding PSD2 license for 10 European countries. Markus Dränert (CEO), Cornelia Schwerter (CRO) and Taner Akcok (CPO) form the management team.
Email: press@finreach.com
Email: press@figo.io
About finleap connect
finleap connect is the leading independent Open Banking platform provider in Europe. It enables companies across a multitude of industries to provide the next generation of financial services by understanding how customers transact and interact.
Contact details
Related topics
Related news
finleap connect, Europe’s leading independent Open Banking platform, announces new CEO
finleap connect, Europe’s leading independent Open Banking platform, announces changes to its management team. Nicola Breyer, previously Chief Growth Officer at OptioPay and Head of Commercial Grow...
Carlos Gomez and Jacobo Busto take over management of finleap connect Iberia
Effective immediately, Carlos Gomez and Jacobo Busto are the new Managing Directors of finleap connect in Iberia in order to continue to expand the business in Iberia at full strength. They succeed...
Emiliano Costanzo takes on management of finleap connect in Italy
As of today, Emiliano Costanzo is the new Managing Director of finleap connect in Italy. With his innovative approach and understanding of the Italian market, Costanzo will continuously establish t...
finleap connect, the DACH open banking market leader, raises €22 million in Series A
finleap connect, the leading open banking platform in the DACH region, has raised €22 million in its first funding round since its merger in 2019. The Series A round is led by the global fintech po...
finleap connect wins Dr. Lea Maria Siering as Chief Risk Officer and designated Managing Director
Dr. Lea Maria Siering, experienced regulatory expert and currently Chief of Staff and Director Regulatory at finleap, will join finleap connect on April 1, 2021 as Chief Risk Officer and Managing D...