Open, the SME neo-banking platform on Tuesday announced the acquisition of consumer neo-banking platform Finin for $10 Million in a cash-and-stock deal.
The acquisition will strengthen Open’s cloud native enterprise offering BankingStack through which it has deployed SME digital banking solutions for 17 banks. The deal will also provide a fillip to the firm's recently launched no-code embedded finance platform Zwitch, through which it enables fintechs and non-fintechs to launch innovative digital banking services, said the company.
“The acquisition of Finin adds strategic value to Open’s offering in the cloud native enterprise banking and embedded finance space. Today through BankingStack,