Home > Business > Deutsche Börse partners with startups Finologee and figo to launch FinTech Acceleration platform

Deutsche Börse partners with startups Finologee and figo to launch FinTech Acceleration platform

The Deutsche Börse Group and its closely-tied services provider Clearstream are planning to join forces with FinTech startup figo from Germany and RegTech startup Finologee from Luxembourg. New possibilities await!
(Featured Image: Raoul Mulheims, co-founder and CEO of Finologee / Image Credit © Finologee)

The new team will create a platform capable of supporting exciting financial industry players and up-and-coming digitization companies to better manage their combined services and abilities. The goal? Creating new revenue opportunities.

Perhaps the biggest strength in this new partnership is the ability for all actors to leverage Deutsche Börse’s market and reference data and its functional services via Application programming interfaces (APIs). The group will also focus on hosting their already developed APIs and creating new ones in the new acceleration platform, eventually opening up to external providers for a sort of marketplace where all parties can consume and exchange APIs. These APIs will help banks, insurance companies and FinTech providers better communicate and use data, and eventually lead to a more efficient set of financial product and services alternative.

“Creating this market place is the logical consequence of what we have done so far.”

What each member has to say about it

Marc Robert-Nicoud, CEO of Clearstream Holding, said: “We believe that this kind of partnership is the way forward in shaping the future of the financial industry: it brings together the know-how and innovation capacity of an established market infrastructure with the innovative models and flexibility of strong FinTech start-ups. This symbiosis can contribute immensely to developing new interaction, collaboration and monetisation models.”

Raoul Mulheims, co-founder and CEO of Finologee added: “I think we found a perfect match here. We aim at building a very powerful service distribution platform and marketplace, serving both the traditional financial industry’s and the new generation players’ needs. For us, this is a logical evolution in our entrepreneurial journey, and also a unique opportunity to deploy our own apps and products.”

André M. Bajorat, CEO of figo, concluded: “With Clearstream, we use the infrastructure of a trustworthy partner from which our customers, banks and non-banks, benefit. Technology, developer community and compliance – the idea of open banking in general – come together in the PSD2: and this is exactly what all three partners make clear at this point. Creating this market place is the logical consequence of what we have done so far.”

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