Deutsche Börse Group and its post-trade services provider, Clearstream, will partner with financial technology (fintech) firms, figo and Finologee to create the Acceleration platform.
The platform is expected to launch in Q4 2018, subject to regulatory approval. First deployments on the platform are currently being evaluated.
According to Deutsche Börse, the new platform will enable established financial industry firms and digital companies to distribute and leverage each other’s services resulting in new revenue opportunities.
It will allow access to Deutsche Börse’s market and reference data, as well as functional services via web based application programming interfaces (APIs).
The first services offered by third parties will be an access to account gateway for banks for the second Payment Services Directive (PSD2).
Deutsche Börse Group has been cooperating with figo since 2016 and the new partnership with Finologee is targeted to serve particularly the Luxembourg market with the first end-to-end PSD2-compliant payment solution.
Clearstream will run the APIs marketplace for Deutsche Bo?rse, which the fintech Acceleration platform will be based on.
The platform will be available for use by developers at figo’s Bankathon on 27-29 August 2018 in Frankfurt.
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, commented: “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.”
Andre? Bajorat, CEO of figo, said: “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.”
