figo Revenue and Competitors

The seemingly inseparable connection of banks and ?banking? is breaking up! In its place, figo has become Europe's first banking service provider. The Hamburg-based B2B company has opened the doors to the banks and is a company unlikely most any other in this new open banking world. Data from 3,200 financial sources such as bank accounts, credit cards, deposits, PayPal and FinTech companies can be reached via figo, with more to come. One aspect of the Payment Service Directive 2 (PSD2) is the Access to Account (XS2A), which requires banks to make bank data available to so-called third parties. With its multifunctional platform technology, figo provides technical solutions for complying with XS2A, meaning banks do not have to develop this interface themselves. The extensive management functions of this tool include all regulatory requirements. Banks can also use the figo 'Banking as a Service'? platform to create their own innovative products themselves. Since August 16th 2018 figo GmbH is a regulated institution under the Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz - ZAG), granting figo authorisation by the Federal Financial Supervisory Authority (BaFin) to provide account information (AIS) and payment initiation services (PIS), which have been regulated since January 2018. Through the developed ?tripartite contract model? figo can take over the function of the regulated AIS and PIS for non-regulated companies and thus make sure that they act PSD2-compliant without their own registration/licence. As the foundation for the banking of the future, figo is positioned as a reliable solution provider for banks, FinTechs, e-commerce and software houses of all sizes. Compliance, data processing, full-service and business intelligence are key added values, with figo currently working with more than 50 experts every day. Jobs: https://www.figo.io/en/career/ Contact: https://www.figo.io/en/contact/ Imprint: https://www.figo.io/en/imprint/