Global law firm White & Case LLP has advised open banking platform provider Tink on its acquisition of FinTecSystems.
The transaction will significantly increase Tink's presence in Germany, Austria and Switzerland and fuel FinTecSystems' high growth and open banking capabilities in those countries.
Tink is a leading open banking platform provider, enabling banks, fintechs and startups to develop data-driven financial services. Through one application programming interface (API), Tink allows customers to access aggregated financial data, initiate payments, enrich transactions and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe and serves more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries.
FinTecSystems is a leading German open banking platform specializing in account aggregation, data analytics and open banking payments. With connectivity to more than 99 percent of banks across Germany, Austria and Switzerland, alongside value-added data services, FinTecSystems delivers account information that enable companies to make better, data-driven and automated decisions. The company supports more than 150 banks and fintechs in Germany, Austria and Switzerland, with clients including N26, DKB, Santander, Solarisbank and Check24 as well as all national comparison platforms.
The White & Case team which advised on the transaction was led by partners Henrik Wireklint (Stockholm) and Matthias Kiesewetter (Hamburg), with support from partner Tilman Kuhn (Düsseldorf), local partners Mathis Rust (Düsseldorf) and Sebastian Stuetze (Hamburg), counsel Carsten Loesing (Frankfurt) and associates Elin Brännström (Stockholm), Mathias Bogusch, Anna Dold, Miriam Wehner (all Frankfurt), Nico Frehse and Kristin Brüggert (both Hamburg).
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