The terms of the agreement were not disclosed
Mastercard to acquire European open banking technology provider. Source: shutterstock.com
Mastercard has entered into an agreement to acquire Aiia, a European open banking technology provider offering a direct connection to banks through a single API.
According to the press release, Aiia’s open banking platform and expertise complement Mastercard’s existing distribution channels, technology and data practices.
The connectivity of Aiia in Europe will enable Mastercard to deliver the credit decisioning and credit scoring applications of Mastercard’s Finicity to European clients.
Similarly, the connectivity of Finicity in the US is expected to help deliver the account information services and payment applications of Aiia to US clients – giving customers globally easier, faster and safer access to open banking services.
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