Indian fintech to boost Deutsche Bank’s open banking development
(17 May 2018 – Global) Deutsche Bank has announced its acquisition of Mumbai-based software company, Quantiguous Solutions, to help strengthen its Global Transaction Banking business.
The Quantiguous team will accelerate the bank’s development of its open banking platform which will form the core for developing new client applications and connecting corporate clients, fintech providers and partner companies to Deutsche’s transaction banking platforms and services.
All employees of Quantiguous will join the core team responsible for the development and implementation of Deutsche Bank’s global API program.
Thomas Nielsen, Chief Digital Officer, Global Transaction Banking at Deutsche Bank said, “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 to go market faster.”
“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 of Quantiguous Solutions.