Deutsche Bank buys Indian start-up Quantiguous Solutions
Deutsche Bank has acquired Quantiguous Solutions, a Mumbai-based software company, as it seeks to strengthen its transaction banking franchise.
With the help of Quantiguous, the bank says it will accelerate the development of its open banking platform that forms the core for developing client applications and connecting corporate clients, fintech firms and partner companies to Deutsche Bank’s transaction banking platforms and services.
John Gibbons, Deutsche Bank’s head of global transaction banking, says: “The injection of this high-quality talent pool from Quantiguous into the bank’s digital franchise will help us go to market faster.”
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 roll-out of the transaction bank’s global API programme.
The bank and Quantiguous didn’t disclose the value of the transaction.
In a separate development, last week, Deutsche Bank teamed up with the International Air Transport Association (IATA), the trade association for the world’s airlines, to test “a disruptive new payment model”.