finreach solutions and figo are becoming one
March is traditionally time for changes: a new season and many new beginnings. For us at finreach solutions, this March 2019 also started with a change that will give us a new, important drive. We are joining forces with figo, Europe's No. 1 banking provider and the first German fintech company to obtain a PSD2 licence for ten European countries. Our merger will take place gradually over the course of 2019 and is subject to the approval of the Federal Financial Supervisory Authority (BaFin).
Why did we decide for this merge? Because it makes perfect sense.
finreach solutions and figo have been partners in several projects for years, both in business or at events (remember our Bankathons!). We share the same vision, mission and customer group. By bringing together our compatible skills and strategies, we are able to satisfy new market demands and to create innovative financial solutions that will put us in a leading role as Europe's No. 1 SaaS API platform for finance. Together, we will work to bring our vision to life: To Unlock Consumer Financial Potential With One Click.
Other competitors might be sharing this vision, but we have already proved that we can actually execute it.
figo has a strong reputation in terms of data connectivity, open banking and Licence-as-a-Service, and finreach solutions built their success story based on SaaS products like the account switch kit for over 500 banks. Together, we can provide our customers with products that are deeply integrated, as well as connected to a large database. Existing and new clients will tremendously benefit from our strong capabilities. Our products are designed for key players in the financial field (and those who want to enter that field) who want to offer their consumer clients a greater experience when it comes to manage and optimize their personal finances – smart, easy and fully digital.
Both offices and teams in Hamburg and Berlin will be led by Markus Dränert, CEO finreach solutions, Taner Akcok, CPO finreach solutions and Cornelia Schwertner, CRO figo. This is an advantage in recruiting, given that top talents can choose which amazing city they would like to work in.
We are thrilled about our future journey – together.