Afterbanks has been acquired by Indraa purchase that will enhance the strategy of both companies to offer their customers the best technological solutions within the new open banking environment under the PSD2 European payment directive.
This is Afterbanks, the Spanish startup acquired by Indra
Afterbanks is a 100% Spanish banking aggregator led by David and María Pilar Lozano, which provides technology that makes it possible for companies and individuals consult directly on a single digital platform, your bank movements and billingwithout having to access the applications or spaces provided by the banking entities: all bank accounts and movements are grouped in one place, saving users time.
Also, the Afterbanks service connects with all banks in Spain and a large part of the foreigners, including Italy and Mexico, complying with the .
The European regulation on payments (PSD2 or Revised Directive on Payment Services 2) entails fundamental changes in the banking industry, since it gives the TPPs (Third Party Payment Service Providers) access to the infrastructure of banks under the supervision of the European Banking Authority (EBA).
In other words, if until now access to customer accounts was the exclusive responsibility of banks, new players, such as fintech companies, will be able to access these accounts, either to consult information or to make payments. Therefore, this type of API is a fundamental component to exploit the potential of an open banking standard.
Of course, the TPPS have to comply with the same regulations as traditional payment service providers, which include registration, authorization and supervision by the corresponding supervisory entity, forcing themselves to intensify the .
afterbanks of 360,000 euros last December, led by the investment company Angels Capital, François Derbaix and Fernando Cabello-Astolfi. At that time, the startup had already exceeded the number of 1.5 million monthly connections to the bank through its API, while more than 30,000 companies and individuals in Spain use its technology to simplify their work with bankswith which it has managed to consolidate itself as one of the benchmark companies in the sector.
Indra will reinforce the Minsait solution
For its part, Indra is one of the main global technology and consulting companies, as well as a leader in digital transformation and information technologies in Spain and Latin America through its subsidiary .
With the purchase of Afterbanks, Minsait will be able to improve its offer in financial services and payment systems, as a whole, which offers financial aggregation tools, investment analysis and tools to help people better manage their finances.
After its acquisition, Afterbanks will maintain its usual brand and operations, so its services, equipment and technology will continue to function in the same way as it has done until now.
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