Latest news with #OpenFinance
Finextra
4 days ago
- Business
- Finextra
Fabrick completes acquisition of finAPI
Fabrick, Italian company operating in the Open Finance industry, has completed the acquisition from SCHUFA Holding AG. of 75% of finAPI, one of the leading players in Open Banking in Germany. 0 The acquisition, authorized by regulatory authorities, expands the international perspective of Fabrick and enables the development of synergies for innovation in digital payments across Europe. The convergence between Fabrick and finAPI aims to improve customer experience in payments and access to financial data, making it increasingly secure, fast, and reliable. In this context, the combined portfolio of the two companies will offer enterprises clients a broader range of digital solutions. Specifically, finAPI's clients will benefit from Fabrick's extensive portfolio. Thanks to this operation, Fabrick is now entering high-potential markets such as Germany and Austria, in addition to Italy, Spain, and the United Kingdom. Fabrick not only strengthens its presence at European level but also confirms its DNA as an open ecosystem capable to grow through confrontation with different contexts and cultures and a mutual exchange of know-how and expertise. An asset that enriches the overall offer to the benefit of enterprise clients and their end customers, who can benefit from solutions that are increasingly effective, complete in line with the needs of a market in constant transformation. With its open finance platform, Fabrick orchestrates innovative solutions in the entire payment value chain. It operates as an enabler for banks, fintechs, and corporations, aiming to optimize the end-user experience by making it seamless and personalized. With the acquisition of finAPI, it not only gains expertise and experience, but also strengthens itself in a segment as strategic for the future as A2A payments, becoming one of the main European players by value of transactions. Founded in 2008 in Munich, finAPI is among Germany's pioneers in Open Banking, Data Intelligence, KYC, and Payments. The company serves more than 400 clients, including banks, insurance companies, fintechs, financial institutions, and software providers, operating not only in Germany and Austria, but also in numerous other European countries. In 2024, it reported net sales of €7 million, handling more than 5 billion API calls and a total volume of over €70 billion in account-to-account payments. Germany remains one of the most promising markets for Open Finance in Europe, thanks to strong economic, regulatory, and technological fundamentals. According to Grand View Research, the German Open Banking market was worth €1.7 billion in 2023 and could exceed €8.6 billion by 2030, with a CAGR of 26 percent. Embedded Finance is also growing strongly: estimated at $9.79 billion in 2024, it could reach $25.81 billion by 2029. Consumer adoption increased from 2% to 13% between 2022 and 2024, with 14% of consumers and 10% of SMEs already using embedded lending solutions. With the upcoming PSD3 directive, Europe is preparing to become the leading global market for Open Banking. In this context, the international presence of specialized players such as Fabrick fosters the evolution of Open Finance, promoting innovation, efficiency, and competitiveness. Paolo Zaccardi, CEO and co-founder of Fabrick, comments: 'The acquisition of finAPI represents a strategic step in our European journey. The integration of the two companies, which share a common vision and goals, allows us to enable new models of customer engagement and loyalty, through a fluid, omnichannel and tailored customer experience, in which payments become relationship opportunities. We proceed with a growth perspective based on the exchange of skills and targeted investments, with the aim of strengthening the solutions developed for customers and contributing to their evolution in an increasingly efficient, complete and innovative key.' Florian Haagen, CEO and Co-founder of finAPI, added: 'The merger with Fabrick marks a significant step for finAPI and our customers. Together, we can offer an even broader portfolio of digital Open Finance solutions - with greater flexibility, enhanced capabilities, and access to innovative payment services such as Fabrick's orchestration. For our clients, this means more possibilities and real added value. As part of Fabrick, we are ideally positioned to actively shape the future of Open Finance in Europe.'
Finextra
5 days ago
- Business
- Finextra
Ninth Wave launches new managed services division for open finance
Ninth Wave, a leading provider of Open Finance connectivity solutions, today announced the launch of Ninth Wave Managed Services, a new division focused on helping financial institutions deploy open and embedded finance capabilities such as ERP integrations, embedded payments, and wealth data connectivity – in under 90 days. 0 As banks continue to adopt cloud-native, API-first platforms, they face operational challenges tied to security protocols, regulatory compliance, and consumer consent frameworks. Ninth Wave Managed Services addresses these pain points with deep industry expertise and hands-on implementation support. Steve Schick joins Ninth Wave as Head of Managed Services, bringing extensive experience in financial services cloud technology from his tenure at Amazon Web Services (AWS), where he served as the company's first enterprise-level hire focused exclusively on financial services. In that role, he led North American go-to-market initiatives and helped overcome early initial industry concerns about cloud security for regulated institutions. 'As the industry embraces modern, API-first infrastructure, the biggest hurdles are often operational, not technological,' said George Anderson, Ninth Wave's Founder. 'Steve brings the experience and mindset needed to help clients execute faster, with less risk and more impact.' The new division will follow Ninth Wave's Plan, Build, and Operate methodology combining technical execution with compliance/regulatory alignment and user adoption strategies. The focus will be on accelerating customer onboarding and delivering high impact capabilities such as: * Secure, API-first connectivity across ERP platforms like NetSuite, Sage, and Microsoft Dynamics * Real-time payments with entitlement driven workflows and automation of manual processes * Enhanced wealth data connectivity, particularly for high net worth households * Co-branded API portals, marketing assets, and adoption campaigns that position banks as integration-ready partners 'I'm excited to join Ninth Wave and contribute to its mission of simplifying open and embedded finance for financial institutions and their account holders,' said Schick. 'I look forward to building on the platform's proven capabilities to deliver meaningful results for our clients.'
Fintech News ME
12-06-2025
- Business
- Fintech News ME
AED 2 Billion in Open Finance Payments Tracked in UAE
Lean Technologies, a financial infrastructure provider in MENA has published a comprehensive whitepaper detailing how Open Finance is redefining payments in the UAE. Titled The Dawn of Open Finance – Payments, the report serves as a reference for fintech companies, digital platforms, financial institutions and policymakers seeking to understand how regulatory frameworks and new technologies are coming together to reshape payment systems in the country. The whitepaper outlines the foundational components of Open Finance in the UAE, with a particular focus on payments. It explains how account-to-account payments are becoming a viable alternative to traditional card-based transactions, supported by regulatory infrastructure developed by the Central Bank of the UAE. These payments are initiated and authorised through licensed third party providers using regulated APIs, enabling users to make real-time transfers directly from their bank accounts. Key elements of the UAE's Open Finance model include AlTareq, a centralised user interface standard that ensures a consistent payment experience, and Aani, the country's national real-time payments rail. Together, these initiatives enable faster, more secure, and more transparent transactions for both consumers and businesses. The whitepaper also breaks down various payment types enabled through Open Finance, such as single instant payments, future-dated payments, fixed and variable recurring payments, and bulk or batch disbursements. Each type is accompanied by a consent model that specifies transaction limits, authorisation timeframes, and access controls, providing users with full visibility and control. A comparison with other payment methods highlights the practical benefits of Open Finance, including lower transaction fees for merchants, reduced fraud risks, and near-instant settlement through domestic rails. In contrast to cards or manual bank transfers, Open Finance offers embedded experiences within apps or platforms, eliminating the need for manual data entry or external redirection. The paper also outlines the governance framework behind Open Finance in the UAE, including the role of consent as a mandatory, standardised element across all services. It provides a detailed view of how users authenticate, authorise, and manage their payment permissions, with features such as multi-factor authentication, real-time notifications, and revocation controls. Lean, which is licensed as a third party provider in the UAE, developed the paper based on its operational experience supporting Open Finance across the region. The company states that while systems like Aani provide the payment infrastructure, businesses often require additional layers of integration and support. Lean's role, the paper notes, is to bridge that gap by offering developer-friendly APIs, unified bank connectivity, and real-time payment orchestration. With integrations across more than 16 banks, covering 99 per cent of the UAE's banked population, Lean reports that its technology is currently in use by platforms such as Careem, e&, DAMAC and Lulu Money. The company says the whitepaper reflects both the current state of Open Finance and the opportunities that lie ahead as adoption increases.
Finextra
12-06-2025
- Business
- Finextra
InDrive brings Pix P2P payments to the ride-hailing sector
inDrive, a global mobility and urban services platform operating across 48 countries, has introduced seamless Pix via Open Finance payments for its ride-hailing and delivery services in Brazil. 0 With technology provided by Belvo, the new feature - an innovation in the Brazilian Ride Hailing and Delivery landscapes - brings an integrated, peer to peer, safe and effortless digital payment option into the inDrive app. The feature marks the company's first fully integrated peer-to-peer payment solution at a global level. Powered by Belvo, the leading Open Finance platform in Latin America, the new feature enables fast, secure, and intuitive Pix transactions — fully embedded within the inDrive app, the world's second-most downloaded app in the ride-hailing category. This launch also reflects inDrive's long-standing commitment to freedom of choice — giving users the ability to select the payment method that fits their preferences and daily routines. The instant payment system — commonly referred to in the industry as RTP (real-time payment) or A2A (account-to-account) — marks a significant breakthrough in the Brazilian market. With Pix via Open Finance now available alongside cash and card, in some cities, inDrive users across Brazil can choose exactly how they want to pay. Once the option is selected, passengers and delivery customers are guided through a simple in-app flow to complete payment via their preferred bank. Drivers receive funds directly to their bank accounts in real time — with no manual data exchange required. The shift to seamless Pix isn't just about following trends — it's about meeting people where they are. Stefano Mazzaferro, Brazil Country Manager at inDrive, commented: "We believe true innovation doesn't always mean creating something new — sometimes, it means making what people already love and do even better. Pix is part of everyday life in Brazil, and by making it seamless, we're giving our users the freedom to pay on their terms, in a way that's at the same time natural, safe, and fast.' This is the first fully embedded Pix payment experience in Brazil's ride-hailing and delivery landscape — a significant step beyond the existing wallet or card-based solutions. With Pix as a blueprint, inDrive is laying the groundwork to expand real-time, cashless payments in other key markets — always guided by the same principle: giving people more control, flexibility, and freedom.
Finextra
06-06-2025
- Business
- Finextra
The Future of Open Finance: Impacts of New Regulation, Use Cases, & Business Models
Simos Eacott, Head of Payments, NatWest, speaks at EBAday 2025 in Paris about the the future of Open Finance and the impacts of new regulation, use cases, and business models. We hear how much the switch to an expanded open finance ecosystem will enable growth, and whether the industry is prepared for the potential changes.
