Deutsche Bank today announced that it has acquired Quantiguous Solutions, a Mumbai-based software company, to strengthen its Global Transaction Banking franchise. With the help of Quantiguous, the bank will accelerate the development of its Open Banking platform that forms the core for developing innovative client applications and connecting corporate clients, FinTechs and partner companies to Deutsche Bank’s Transaction Banking platforms and services.
Deutsche Bank acquires India-based #FinTech #startup Quantiguous Solutions https://t.co/QqStyQGJCC #OpenBanking #OpenIT #API pic.twitter.com/kjDY7MvDnn
— Deutsche Bank (@DeutscheBank) May 15, 2018
“The future of banking depends on connectivity which is key to drive growth for our global franchise,” said John Gibbons, Head of Global Transaction Banking. “The need to provide an easy-to-use, seamless customer experience, with new digital services offered across a broad number of touchpoints has never been greater.”
“This acquisition significantly ups the game for Deutsche Bank’s Open Banking strategy. The injection of this high-quality talent pool from Quantiguous into the bank’s digital franchise will help us go to market faster”, said Thomas Nielsen, Chief Digital Officer, Global Transaction Banking at Deutsche Bank.
“We are excited to become part of Deutsche Bank. This is a remarkable opportunity for us to build an Open Banking platform on a global scale, with an international bank that is committed to the concept of Open Banking. We have always believed that this is the foundation for a connected financial ecosystem”, added Akhilesh Kataria, Founder and CEO, Quantiguous Solutions.
As part of the acquisition, Deutsche Bank will take over all employees of Quantiguous, who will join the core team responsible for the development and roll-out of the transaction bank’s global API programme. The bank and Quantiguous didn’t disclose the value of the transaction.
Source: Deutsche Bank
NEWSLETTER SIGN UP
And receive exclusive articles on securities markets
As Technology Evolves, Asset Managers Adapt and Innovate
Citi Changes Organizational Structure
SEC Charges Virtu for Disclosures Relating to Information Barriers
ICE Futures Singapore Partners with CoinDesk Indices
Related articles
-
Europe’s first and largest ETF white label platform has record $7.7bn AUM.
-
The technology could help increase trust and efficiency in the voluntary carbon market.
-
The partnership focuses on quantitative strategies for listed equities.
-
The group becomes a major European fund manager with over €1,500bn in assets.
-
The proposal would modify certain leverage capital standards for the largest systemically important banks.