FinAPI acquisition finalized by open Finance platform Fabrick
In a significant move for the Open Banking sector, Italian company Fabrick has announced the acquisition of German finAPI, a pioneer in Open Banking, data intelligence, KYC, and payments. This strategic merger is set to bring significant synergies and benefits, particularly in Germany and Austria.
The combination of Fabrick and finAPI will strengthen Fabrick's position in Europe's Open Banking landscape, creating a more comprehensive and robust ecosystem for financial innovation. The acquisition expands Fabrick's presence in high-potential markets such as Germany and Austria, in addition to its existing presence in Italy, Spain, and the United Kingdom.
The integration is expected to foster a mutual exchange of expertise and knowledge between the two companies, benefiting from each other's experiences in different markets. This exchange is anticipated to lead to a broader digital solutions portfolio for finAPI's clients, providing them with access to Fabrick's extensive portfolio of digital financial solutions.
The combined operations aim to improve the customer experience by making payments and access to financial data more secure, fast, and reliable. The merger enables the offering of a broader portfolio of digital Open Banking solutions, supporting the growing demand for scalable platforms across Europe, thereby enabling further innovation in digital payments.
For Florian Haagen, CEO and co-founder of finAPI, the merger offers greater flexibility, enhanced capabilities, and access to innovative payment services. He believes this move will provide more possibilities and real added value for finAPI's clients, which number over 400 and handled more than 5 billion API calls and a total volume of over €70 billion in account-to-account payments in 2024.
Paolo Zaccardi, CEO and co-founder of Fabrick, views the acquisition of finAPI as a strategic step in their European expansion. He mentions a growth perspective based on the exchange of skills and targeted investments. As part of Fabrick, finAPI is ideally positioned to actively shape the future of Open Finance in Europe.
The acquisition, authorized by regulatory authorities, expands Fabrick's international perspective and enables synergies for innovation in digital payments across Europe. With the acquisition of finAPI, Fabrick strengthens itself in a strategic segment for the future, A2A payments, becoming one of the main European players by value of transactions.
The convergence between Fabrick and finAPI aims to improve customer experience in payments and access to financial data. The combined portfolio of the two companies will offer enterprises clients a broader range of digital solutions. The merger also enables new models of customer engagement and loyalty.
The German Open Banking market, currently worth €1.7 billion, is expected to exceed €8.6 billion by 2030, making it one of the most promising markets for Open Finance in Europe. The acquisition sets Fabrick's sights on this lucrative market, positioning the company for continued growth and innovation in the years to come.
In conclusion, the acquisition of finAPI by Fabrick is a strategic move that will strengthen Fabrick's position in Europe's Open Banking sector, particularly in key markets like Germany and Austria. The merger promises to bring enhanced capabilities, a broader digital solutions portfolio, improved customer experience, and scalability for both companies.
- The fusion of Fabrick and finAPI will bolster Fabrick's standing in Europe's Open Banking scene, developing a more inclusive and unyielding ecosystem for financial innovation.
- This merger extends Fabrick's reach into high-potential economies such as Germany and Austria, boosting its existing presence in Italy, Spain, and the United Kingdom.
- The amalgamation is expected to stimulate a knowledge exchange between the two companies, leveraging each other's market experiences and bolstering finAPI's digital solutions portfolio.
- The combined forces target enhancing customer experience by securing payments and financial data access, while offering a broader spectrum of digital Open Banking solutions to cater to the growing need for scalable platforms across Europe.
- With the acquisition authorized by regulatory bodies, Fabrick expands its global perspective, fostering synergies for innovation in digital payments across Europe, and aiming to capture the lucrative German Open Banking market anticipated to surpass €8.6 billion by 2030.
