Minsait, an Indra-owned company, has bought Afterbanks, a fintech with a special technology for real-time extraction and aggregation of data from different banks, as well as for secure instant payments.
This transaction accelerates the company's progress in the open banking business.
We are in a moment of full disruption with the fintech phenomenon and the transformation of banking.
Companies are well aware of this, which is why these are very important sectors in corporate finance.
The company's IndraMinsait, has purchased the 100% from start up Afterbanksa fintech which has a differentiating technology that allows you to extract and aggregate data from different banks in real time and initiate payments instantly and securely.
It is a joint value proposition that ensures the highest performance in data intelligence, security and payment services in the new open banking environment made possible by the new European payments directive PSD2.
Minsait is a company focused on digital transformation with its own perspective, methodology and tools, based on business knowledge and technology..
Thanks to this operation, it takes a further step forward and continues its progression in open banking, a business with great potential, particularly in Europe and Latin America. It also confirms the success of its open innovation model.
Its objectives are, on the one hand, to strengthen its technological leadership and, on the other hand, to strategically expand and accelerate the capacity to generate and capture disruptive ideas, so that they can contribute to improving the portfolio, as well as to generating a new, more innovative culture in the organisation.
In addition, it complements its advanced offering for the financial sector and expands the value proposition and performance of its solutions in areas such as means of payment, data intelligence and solutions to facilitate the financial management of companies.
The procurement of Afterbanks is Minsait's second start-up acquisition.
Already in 2018, the Madrid-based company became a shareholder in Finect following the takeover of one of its shareholdings through Indraventures.
It is Indra's corporate vehicle for strengthening its relationship with start-ups, spin-offs, universities and intrapreneurs, as well as for channelling and financing initiatives aimed at accelerating the company's innovation.
This Fintech has offices in Spain and the United Kingdom, and currently offers connections to more than a hundred banks.The following are all operating in Spain and another 20 in countries such as Chile, Mexico, Canada and the United States.
It should be noted that, since its beginnings, it has received the support of the Marina de Empresas entrepreneurship hub promoted by Juan Roig, chairman of MercadonaThe company was accelerated by Lanzadera in 2018, and subsequently received investment from Angels, in a round in which renowned investors François Derbaix and Fernando Cabello-Astolfi also participated.
Despite this purchase, the company will maintain its usual brand and operations, so that the services it provides to its customers will continue to operate in the same way as they have done in the past.
In addition to its technological capabilities, Minsait will provide Afterbanks with a complementary customer base and global presence to facilitate the export of its products.
It has more than 120,000 companies and individuals making use of its technology, which is already being tested in advanced digital transformation initiatives in large companies, for example, for facilitating "invisible payment" in shops through facial recognitionThe new technologies include real-time profiling for digital consumer finance and bank reconciliation to facilitate the provision of proactive financing solutions to SMEs.