As a B2B provider, we enable third parties to access various financial sources through the integration of our technology. This includes processed data of bank accounts, credit cards, deposits, Paypal accounts, as well as a variety of FinTechs. Initially, companies used our solution, for example, to automate bookkeeping, simplify credit checks, or make account changes a trivial issue. In the meantime, more and more banks have counted themselves among our customers. They develop products that deliver added value to the user. These applications allow banking to not take place at the bank, but in everyday life, offering aesthetic appeal and ease of use.

Of course we can certainly say that the Payment Services Directive 2 (PSD2) plays right into our hands as a company. What figo has been living and breathing since the beginning of 2014 – the new, open banking world – is now being released from its legal grey area as a new standard. The tried and true technical solutions which we already offer, which preeminently match up to the basic idea of PSD2, show how forward-looking our approach is. At the same time, we have proven again and again that we react dynamically to the constant changes of an increasingly digitised financial sector.

  • KNOWN FROM ...

The figo family

Martin

Martin

Developer
Theresa

Theresa

Process & Outsourcing Controlling Manager
Carsten

Carsten

CTO
Chris

Chris

Head of Partnerships
Stella

Stella

Head of PR & Marketing aka Ms Propaganda
Sri

Sri

Scrum Master
André

André

CEO
Florian

Florian

Partnerships - Banks & Financial Institutions
Birte

Birte

Senior IT Project Manager
Steven

Steven

Head of IT
Heiko

Heiko

COO/CFO/MD aka Minister of Internal Affairs
Jonas

Jonas

Junior Governance and Risk Manager
Patrick

Patrick

Working Student
Alex

Alex

Phyton Developer
Nina

Nina

Office Manager/Management Assistant aka Office Angel
Christian

Christian

Senior Python Developer
Moritz D.

Moritz D.

Controller
Max

Max

Information Security Officer
Alexander

Alexander

System Administrator
Lukas

Lukas

Operations Engineer
Bea

Bea

Human Resources Manager
Nils

Nils

Lead Technical Support Manager
Dennis

Dennis

Senior Software Engineer aka 1337 python lad
Sebastian

Sebastian

Head of Product Development
Lars

Lars

API Evangelist aka The FinTech Wiki
Paul

Paul

Software Engineer
Sönke

Sönke

Product Owner
Cornelia

Cornelia

CRO
Vasyl

Vasyl

Senior Developer
Ivan

Ivan

Node.js Developer
Moritz P.

Moritz P.

Senior Python Developer aka Señor Python Developer
Artem

Artem

QA Lead Engineer
Carolin

Carolin

Junior Software Developer
Niklas

Niklas

Platform Engineer
Bogdan

Bogdan

Contract Manager
Jan

Jan

Software Engineer
Anne

Anne

Junior Marketing Manager
Robert

Robert

Software Engineer aka Harmony Bear
Josh

Josh

Junior Software Developer
Cedric

Cedric

Partnerships Manager
Mira

Mira

Junior Controller/ Accountant
Samuel

Samuel

Junior Software Engineer
Christian H.

Christian H.

System Architect
Eike

Eike

Working Student
Dany

Dany

Technical Service Specialist
Florian T.

Florian T.

Junior Technical Service Specialist
Felix

Felix

Intern
Benedikt

Benedikt

IT Administrator
Hani

Hani

IT Administrator
Christina

Christina

Intern
Isi

Isi

Working Student
Hammy

Hammy

Office Dog

figo story

 

B2C

figo started as a MultiBanking app. The goal was to give users the best mobile banking experience.

 

B2B

Once merely an app provider, figo has become Europe’s first banking service provider through an entrepreneurial realignment. As a B2B provider, the company enables third parties to access various financial sources through the integration of technology. This includes processed data of bank accounts, credit cards, deposits, Paypal accounts, as well as a variety of FinTechs.

 

FinTech companies

At the beginning, it was primarily FinTech companies that drew on our solution, which for example automates accounting, simplifies credit checks, and makes account changes a trivial issue.

 

First Bankathon

In April 2015, Gini and figo organised Germany’s first Bankathon. The competition is a neutral platform that brings players from across the financial sector together on a level playing field. Over the past few years in Europe, an entire ecosystem has developed around the competitions, during which programmers demonstrate how in a short time frame, they can deliver new, concretely applicable use cases and ideas for technical implementation. At the Bankathon, participants, sponsors and guests witness up close what creative developers can build on the foundation of banking infrastructures.

 

Banks, PSD2 and Europe

In the meantime, more and more banks have counted themselves among our customers. They develop products that deliver added value to the user. These applications allow banking to not take place at the bank, but in everyday life, offering aesthetic appeal and ease of use.

 

xs2a enabler

The basic principles of PSD2 are to promote competition alongside banks and to open up a system landscape that has thus far been closed – and to do it all over Europe! Users should have the ability to use their own bank accounts – that is, their own bank data – confidently and autonomously in the offers and services of so-called third parties, of course, with a reasonable level of security within a understandable liability construct.

In practice, it is the PSD2’s ‘Access to Account’ (XS2A) requirement which obliges banks to open up and allows access to third parties.

With the xs2a enabler, figo has developed a product especially for banks.

 

ZAG-Licence and RegShield

Our long and hard work finally came to fruition on the 16. August 2018: figo GmbH became a regulated institution under the Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG), granting figo authorisation by the Federal Financial Supervisory Authority (BaFin) to provide payment initiation (PIS) and account information services (AIS), which have been regulated since the beginning of the year.

In the course of receiving the licence RegShield was launched. With it, figo takes on the burden of its partners’ licensing obligations.

figo is honored