Deutsche Bank has acquired Quantiguous Solutions to strengthen its Global Transaction Banking franchise.
The Mumbai-based software company, Quantiguous Solutions, will help the bank accelerate the development of its open banking platform.
The open banking platform forms the core for developing innovative client applications and connects corporate clients, financial technology firms, and partner companies to Deutsche Bank’s transaction banking platforms and services.
As part of the acquisition, Deutsche Bank will take over all employees of Quantiguous, who will join the core team responsible for the development and rollout of the transaction bank’s global application programming interface programme.
John Gibbons, head of Global Transaction Banking at Deutsche Bank, commented: “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 touch points has never been greater.”
Thomas Nielsen, chief digital officer, Global Transaction Banking at Deutsche Bank, said: “This acquisition significantly ups the game for Deutsche Bank’s open banking strategy. 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 CEO, Quantiguous Solutions, added: “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.”
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