Deutsche Bank buys Indian fintech firm

Digital connectivityDeutsche Bank has acquired a software company based in Mumbai to improve digital connectivity in its global transaction banking department. The team at Quantiguous Solutions will join the transaction bank’s global API (application programming interface) team, which is working on an Open Banking initiative to make it easier for clients to access services. “This acquisition significantly ups the game for Deutsche Bank’s Open Banking strategy,” said Thomas Nielsen, chief digital officer, global transaction banking at Deutsche Bank. “The injection of this high-quality talent pool from Quantiguous into the bank’s digital franchise will help us go to market faster.” Akhilesh Kataria, founder and chief executive of Quantiguous, said the acquisition was “a remarkable opportunity for us to build an Open Banking platform on a global scale”. Deutsche Bank did not disclose the value of the transaction. ©2018 funds global asia

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