Cornelia Schwertner, figo’s Head of Regulation, is EFA Co-Chair

“We will grow the alliance and lead by example”

European Fintech Alliance (EFA) with new leadership from Germany and Finland

Chairman is Marcus Laube, CEO of Crossinx. Co-Chairs are Cornelia Schwertner (figo), Sascha Bross (Holvi) and Roman Keßler (Fintech Group). Next to the administrators and founders of the EFA, Dr. Marc Tenbücken (Hendricks & Schwartz) and Christian Wenning (Erste Lesung), a Permanent Legal Advisor, Frank Müller LL.M. from the law firm Aderhold, will help with all regulatory questions.

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XS2A: Three bankers walk into the PSD2 lift …

XS2A Strategie Board

The PSD2 regulation comes like a thunderbolt! And with the regulation, end customers get sovereignty over their own bank data. For banks this means they will be obliged to free bank data from the bunker – the so-called Access to Account (XS2A) for payment accounts is striking like lightning. This gives customers the right, for the first time, to share their data with anyone who wants to use it. Banks have to manage the release of data to the outside. They have to open the gate technically. A common technical standard for this? Not a chance!

Giving up data? It is understandable that resistance is the first reaction of many on the banks’ side. The situation could be described as follows: (more…)

figo would like to thank you for a great 2016!

As the year draws to a close, we can look back on a number of highlights. That 2016 was such a successful and special one for figo was, of course, first and foremost due to our customers, partners, and supporters – in other words, you! (more…)

Excursus – My dear PSD2, it’s been almost a year …

My dear PSD2 …  

… it’s been almost a year since you stepped into our lives. We fell in love with you at first sight. You were the answer to our hopes for innovation in open banking, consumer freedom and for our legally watertight business models in what was once a rather uncertain area. We were attracted by your EU level-playing-field character, your empathy for fintech use cases and your potential for fostering collaboration between banking incumbents and new market players.

Like in every good relationship your flaws have shown through the more time we have spent together. (more…)

Deutsche Börse acquires stake in figo

DB1 Ventures, the Corporate Venture Capital arm of Deutsche Börse Group, has participated in a Series B financing round for the Hamburg-based FinTech company figo GmbH and is investing a seven-digit amount for a significant minority stake. Further investors are reputable business angels from Germany. figo raised €6.8 million in total in the current financing round. (more…)

figo’s Bankathon proves it: PSD2 is already a reality!

Gewinnerteams, Jury und die Bankathon ModeratorenMake payments by instalments in every online shop. Impossible? Wrong! IntraBase shows how and takes 1st place at the Bankathon 2016

Take one event–the first Hamburg FinTech Week, one organizer – namely figo, 16 sponsors, nine media partners, six API partners, a 30-hour time limit, 85 ingenious programmers and product developers forming 21 teams, as well as over 200 participants at the Final Pitches. One of the biggest FinTech events that has ever taken place in Hamburg has finished, and believe it or not, the icing on the cake at Bankathon 2016 was the EU Payment Services Directive 2 (PSD2)! The task for the teams, who participated in the FinTech programming competition from 9 to 11 October, was based on the ‘Access to Account’ concept. To put it simply: the contestants had to include an existing bank account in their ideas and solutions. (more…)

Excursus – PSD2 consultations: Feel first, think second, speak last

Feel first

Banking and FinTech markets are currently faced with consultations on PSD2 content as part of national implementation processes as well as at the EU level with consultations initiated by the European Banking Authority (EBA) on their first Guidelines and Regulatory Technical Standards as mandated by the PSD2.  (more…)

1,000 developers worldwide use figo’s banking API

A pool of knowhow, ideas and products which also benefits banks

Banking is becoming a context-based, and above all, useful everyday companion. Making this possible requires a combination of inspiration, creativity, ideas, and of course the ability to bring the mix to reality. Not to mention an entire profession: IT professionals active in the FinTech field, the most sought-after good in an industry! Nearly 1,000 developers, companies and banks are now working with the figo banking API, proof that the Hamburg company has developed a dynamic FinTech ecosystem. Clearly, figo has an asset in place from which banks and software companies can benefit. With the banking API, third parties have the opportunity to connect their applications, products and services with several thousand financial sources in a short time. (more…)

Bankathon 2016: CANDIS is back and wants to defend its title

latest_team_picture

CANDIS Teamfoto

The team from CANDIS participated already in the first edition of Bankathon in April 2015. The team actually developed the first version of CANDIS during the competition – and won the first prize! In the following weeks, team leader Christopher Becker and his colleagues registered the company, rented an office and in the beginning of 2016 raised one million Euros from Point Nine Capital and other investors.
In this Bankathon interview, Christopher Becker tells us about his experience and why the team is joining again for the third edition of Bankathon 9 to 11 October in Hamburg. (more…)

Bankathon 2016: Interview with Matthias Lange of FinLeap

In the last weeks, we introduced our sponsors for this year’s Bankathon, which takes place from 9th to 11th October in Hamburg. Some weeks ago we started with FinLeap, one of our Gold Sponsors. Our questions were answered by Matthias Lange, Managing Director of the Berlin company. Here is the English version for the non-German readers. (more…)