finAPI increases its presence in Europe: France, the Netherlands and Belgium are new markets
High affinity to open banking solutions and highly developed e-commerce markets are two of the criteria for the start in these three new countries.
Munich, 20 September 2023 – finAPI, one of the leading open banking providers in Germany, is now active in three additional European countries with the launch in France, the Netherlands and Belgium. With this expansion step, finAPI is now present in nine European markets (previously: Germany, Austria, Czech Republic, Hungary, Romania and Slovakia). With Italy and Spain, the next two European countries are already in the starting blocks. As a BaFin-licensed provider, finAPI offers account information and payment initiation services in all of these markets.
In its expansion strategy, finAPI relies on several criteria: New markets are selected on the basis of customer needs, fundamental digital development and the willingness of the population to use open banking solutions.
“Europe is generally a pioneer when it comes to the use of open banking solutions. Users in Belgium and the Netherlands are particularly open and positive about this, and France is an attractive market in terms of its size alone. For us, the step into these three new countries is an important part of our growth strategy, and we look forward to supporting our customers in their digital transformation processes”, explains Florian Haagen, founder and CEO of finAPI.
The finAPI portfolio includes the connection of accounts (Account Information Services, AIS) and the initiation of payments (Payment Initiation Services, PIS) for a wide range of applications. In all markets, the Munich-based company offers SEPA payments in Euro; in the Czech Republic and Romania, domestic payments in Czech Crowns and Romanian Leu are also possible. finAPI’s solutions are used in many banking processes (e.g. for checking creditworthiness in loan applications) as well as in banking-related areas. For example, the open banking specialist has a strong presence in the area of accounting software (for example in the aggregation of accounts). The increased expansion is thus of great advantage for existing customers and also for new providers in this area, as it allows them to expand their market presence.
Growth in e-commerce to be driven forward
finAPI is also planning further growth in the e-commerce sector – where the three new countries also play an important role. On the one hand, in terms of the number of online purchases made by the population in their own country and, on the other hand, also due to the comparatively high number of cross-border purchases in other European countries. Online merchants and payment service providers (PSPs) in France, the Netherlands and Belgium can offer payments in their respective countries through the integration of finAPI. The payment webform of finAPI is easy to integrate, multilingual and can be adapted to the design of the online shop as a white-label solution.
More countries are planned in the coming months, with Italy and Spain going live soon. “We are strongly customer-driven and also follow our customers into new markets. Depending on the banking infrastructure in the respective country, a connection can sometimes happen very quickly”, says Haagen.
About finAPI
finAPI GmbH is one of Germany’s leading open banking providers and is licensed by BaFin as an account information and payment initiation service. The Munich-based company has been developing and implementing excellent software and solutions for the aggregation and analysis of financial data since 2008. The focus is on the product areas of Open Banking, Data Intelligence, KYC, and Payments. Customers include more than 300 companies from a wide range of industries, including banks, financial service providers, fintechs, insurance companies and software providers.
Press contact
Verena van Engen
Senior Marketing & Communications Manager
E-Mail: pr@finapi.io
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