Business

May 16, 2018

Deutsche Bank acquires fintech startup Quantiguous Solutions


Deutche Bank

Deutsche Bank has acquired Mumbai-based startup Quantiguous Solutions to help build an Open Banking platform connecting corporate clients to third party partners and 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, according to Deutsche Bank.

All employees from Quantiguous will join Deutsche Bank after the acquisition. They will be part of the core team responsible for the development and roll-out of the bank’s global application programming interface.

John Gibbons, Head of Global Transaction Banking said, “The future of banking depends on connectivity which is key to drive growth for our global franchise.”

“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,” he added.

This marks the first acquisition by the German lender in India. “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.

“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”, said Akhilesh Kataria, Founder and CEO, Quantiguous Solutions.

Akhilesh Kataria’s Quantiguous, founded in early 2014, creates solutions for machine-to-machine interactions via APIs and human-to-machine interactions on mobile devices. It provides improved connectivity and accelerated digitisation amidst the proliferation of devices enabling its customers to facilitate increasingly complex interactions.

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