Customer-Focused Connectivity Across Europe,
Innovative Technology, Experienced Local Teams
Mastercard (NYSE: MA) today announced it has entered into an
agreement to acquire Aiia, a leading European open banking
technology provider offering a direct connection to banks through a
single API, allowing its customers to develop and launch new
digital solutions that meet the needs of everyday life, work and
play.
Open banking is democratizing financial services by putting
consumers at the center of where and how their data is used to
provide the services they want and need. Fintechs and banks use
this consumer permissioned data to provide easier and more
inclusive access to credit, personal financial management, digital
wallets and payments services. Mastercard plays a central role in
this ecosystem as a trusted intermediary and secure data
network.
“The value of open banking comes through empowering consumers
and businesses to use their own data to obtain financial services
solutions simply, securely and quickly. The addition of Aiia
anchors our European open banking efforts and allows us to continue
to meet our customers where they are,” said Craig Vosburg, Chief
Product Officer, Mastercard. “As open banking continues to ignite
innovation, we’re committed to providing a unique set of technology
platforms, data connectivity and infrastructure combined with data
privacy and security principles. This will help fintechs and
financial institutions innovate, gather feedback and scale faster
and more effectively than ever to power smarter, more meaningful
experiences.”
Today, Aiia’s open banking platform and expertise, including
strong API connectivity and payment capabilities, has shown
significant growth coupled with a relentless focus on quality. Aiia
has brought to life a unique model for open banking in Europe,
driven by data privacy, security, quality and access. Its
customer-centric approach and ambition to create open banking that
simply works complements Mastercard’s existing distribution
channels, technology and data practices.
“For the past decade, we have worked to build Aiia into a
leading and quality-driven open banking platform, which has
onboarded hundreds of banks and fintechs onto safe and secure open
banking rails. We have worked closely alongside banks, customers
and local authorities to ensure that our APIs show the true effect
of open banking. We’re excited to become a part of Mastercard and
progress our journey of empowering people to bring their financial
data and accounts into play - safely and transparently,” said Rune
Mai, CEO & Founder, Aiia.
Solidifying a Foundation for Innovation
Mastercard was an early advocate of open banking across the
globe. The company has made bold moves to blend its proprietary
technology and multi-rail payments expertise with strong partners
offering complementary services. In 2019, Mastercard launched its
first open banking connectivity offering in the UK and Poland
through a partnership with Token.
With the acquisition of Finicity in 2020, Mastercard bolstered a
strong commitment to its customers by bringing together top-tier
technology platforms, dedicated resources and a global
infrastructure to catalyze innovation and continue to deliver
localized customer service. This commitment continued earlier in
2021 with Mastercard Payment Services, a broader set of
account-to-account payment and open banking capabilities gained in
the acquisition of the majority of Nets’ Corporate Services
business.
Aiia’s expertise in providing safe and secure data access
complements Mastercard’s data responsibility principles, continuing
to put the individual at the center of the process. This
relationship reinforces work led by Mastercard’s Finicity team to
extend data-related best practices across multiple industries. The
connectivity of Aiia in Europe will enable Mastercard to deliver
the credit decisioning and credit scoring applications of Finicity
to European clients. Similarly, the connectivity of Finicity in the
U.S. will help deliver the account information services and payment
applications of Aiia to U.S. clients – giving customers globally
easier, faster and safer access to open banking services.
“We have been very satisfied with our co-ownership and
partnership with Aiia, which has helped to create user-friendly
open banking solutions for the benefit of our customers. We are
pleased that Mastercard sees the potential in Aiia and are
convinced that they will be the right future owner to support the
development of the company and Aiia’s ambitions for European
expansion. We look forward to the continued collaboration with
Mastercard/Aiia on solutions that support open banking and that
provide real value for Danske Bank’s customers across the Nordic
markets,” said Glenn S�derholm, Head of Personal & Business
Customers, Danske Bank.
Benjamin K Golding, Group Executive Vice President, Payments
& Innovation, DNB also added, “DNB Ventures aims to contribute
growth and value in companies that with time can succeed within
areas relevant to DNB. We have been investors in Aiia since 2018
and DNB is also an important customer of the company. We are very
pleased with Aiia’s development, while with the company entering a
new phase it is natural for us as venture investors to exit, given
our focus on early-stage investments and value creation through
capital, knowledge and input to strategy and business development.
With Mastercard as owners, Aiia will benefit from a strong global
platform positioned for continued growth, and we are looking
forward to continuing our business relationship with
Mastercard/Aiia going forward.”
Aiia is a licensed Payment Initiation Service Provider (PISP)
and Account Information Service Provider (AISP) and operates under
the supervision of the Danish Financial Supervisory Authority
(FSA).
The transaction, which is anticipated to close by year’s end, is
subject to customary closing conditions. Terms of the agreement
were not disclosed.
About Mastercard
Mastercard is a global technology company in the payments
industry. Our mission is to connect and power an inclusive, digital
economy that benefits everyone, everywhere by making transactions
safe, simple, smart, and accessible. Using secure data and
networks, partnerships and passion, our innovations and solutions
help individuals, financial institutions, governments, and
businesses realize their greatest potential. Our decency quotient,
or DQ, drives our culture and everything we do inside and outside
of our company. With connections across more than 210 countries and
territories, we are building a sustainable world that unlocks
priceless possibilities for all. www.mastercard.com
About Aiia
Aiia is a leading open banking platform in Europe, with more
than a decade of experience in fintech and with hundreds of clients
servicing both businesses and consumers. The mission of Aiia is to
empower people to bring their financial data and accounts into play
safely and transparently. Aiia’s platform allows businesses and
financial institutions to integrate financial data and
account-to-account payments into their services for millions of
European citizens. Today, Aiia has connections to more than 2,700
banks across Europe, processes more than 10 million bank logins,
and more than a million account-to-account payments every month for
large banks and e-commerce payment gateways. Aiia provides open
banking services to a long list of banks, challenger banks,
fintechs, accounting system providers and payment companies. Aiia
won the award for Best Mobile Payment Solution at Finovate Awards
in 2020 for live open banking payment solutions built with its
customers.
Forward-Looking Statements
This press release contains forward-looking statements pursuant
to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical facts may be forward-looking statements. When used in
this press release, the words “believe,” “expect,” “could,” “may,”
“would,” “will,” “trend” and similar words are intended to identify
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements that relate to
Mastercard’s future prospects, developments, and business
strategies, as well as Mastercard’s acquisition and operation of
Aiia. We caution you to not place undue reliance on these
forward-looking statements, as they speak only as of the date they
are made. Except for the company’s ongoing obligations under the
U.S. federal securities laws, the company does not intend to update
or otherwise revise the forward-looking information to reflect
actual results of operations, changes in financial condition,
changes in estimates, expectations or assumptions, changes in
general economic or industry conditions or other circumstances
arising and/or existing since the preparation of this press release
or to reflect the occurrence of any unanticipated events.
Many factors and uncertainties relating to the proposed
transaction, our operations, and our business environment, all of
which are difficult to predict and many of which are outside of our
control, influence whether any forward-looking statements can or
will be achieved. Any one of these factors could cause our actual
results or the impact of the acquisition to differ materially from
those expressed or implied in writing in any forward-looking
statements made by Mastercard or on its behalf. Such factors
related to the completion and impact of the acquisition include,
but are not limited to, whether all necessary conditions will be
met, and whether the transaction will close on agreed terms and in
a timely manner.
For additional information on other factors related to
Mastercard’s overall business that could cause Mastercard’s actual
results to differ materially from expected results, please see the
company’s filings with the Securities and Exchange Commission,
including the company’s Annual Report on Form 10-K for the year
ended December 31, 2020, and any subsequent reports on Forms 10-Q
and 8-K.
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version on businesswire.com: https://www.businesswire.com/news/home/20210907005536/en/
Mastercard Investor Relations Contact Jud Staniar,
914-249-4565 investor.relations@mastercard.com
Mastercard Communications Contact Seth Eisen,
914-249-3153 Seth.Eisen@mastercard.com
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