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Spanish consulting company Minsait buys fintech firm Afterbanks

Spanish business management consulting company Minsait has purchased Spanish fintech Afterbanks through Indra, Minsait’s parent organization, writes Crowdfund Insider.

Afterbanks has developed technology that collects data from financial institutions to improve payment processing times and efficiency. It has already been deployed by large enterprises in digital transformation projects such as bank reconciliation and “invisible payments” through facial recognition in shops. The solution also delivers real-time profiling of consumers’ financial behavior. The company claims its technology is currently used by over 120,000 companies around the world.

Minsait is a Spanish company interested in digital transformation. By integrating Afterbanks’ technology, Minsait can provide its clients with payment alternatives, new business models for finance management, and digital financing options through real-time customer profiling.

Minsait hopes to gain more recognition in the open banking sector by offering data intelligence, security, and payments services, and has scalability plans in Europe and Latin America.

Afterbanks has offices in Spain and the UK, and conducts business with more than a hundred banks in Spain, and 20 financial institutions in Chile, Mexico, Canada, and the US.

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