The Munich-based banking-as-a-service provider Banksapi has reportedly gained a new investor. The insurance specialist is now Franke and Bornberg Part of the investor circle.
The Startup provides banks, insurance companies, FintechThe service provides companies and brokerage firms with an application programming interface (API) that they implement in their front-end applications. Customers can then access all accounts, credit cards, building society contracts, and securities accounts via the company's respective front-end. Among other things, the service is intended to help companies redesign their banking services and improve their bancassurance services.
“The insurance industry is ready for bancassurance”
With this investment, the Munich-based fintech startup aims to become the leading banking-as-a-service provider for non- and near-banks. The young company also hopes to gain access to in-depth industry knowledge and contacts in the insurance industry through its collaboration with the renowned insurance specialist Franke und Bornberg.
"The insurance industry is ready for bancassurance. We are pleased to have found a highly respected service provider in the insurance industry, Franke und Bornberg, as an investor. This strengthens our role as a banking-as-a-service provider for the insurance industry. By combining banking, the financial expertise, and the services of Franke und Bornberg, we support our clients in offering new services with 'smart money' that will improve the financial lives of their end customers."
says Jan Wichmann, co-founder of Banksapi, commented on the new collaboration. Investors also see many advantages. Michael Franke by Franke and Bornberg:
"With Banksapi, we have found a progressive partner with whom we can collaboratively approach another chapter in the future of the insurance industry. Our wealth of data and insurance technology will be used for forward-looking and customer-centric processes."
