Finansystech

Finansystech operates as a specialized developer of aggregation APIs and infrastructure solutions for the Open Finance and Open Insurance markets. Founded in June 2021 by Danillo Branco and Diogo Kulaif, the Brazil-based company aims to provide accessible, open-source technology to financial institutions of all sizes. Branco, the CEO, began his entrepreneurial journey at sixteen and gained extensive experience in IT consulting for banks and as a banker, which provided him with deep insights into the financial market and technology.

The company's business model is centered on the "Open Banking Platform as a Service" concept, offering modular, plug-and-play solutions that can be deployed on-premises or on major cloud platforms like AWS, Azure, and Google Cloud. Its core product, the Brick Bank Open Finance Platform, provides a suite of functionalities including consent management, a secure identity gateway compliant with FAPI/CIBA standards, and pre-built integrations for core banking systems. This allows clients, ranging from banks and payment initiators to non-financial entities, to connect to the regulated Open Finance ecosystem efficiently, share data, and initiate payments. Revenue is generated by providing this infrastructure to clients, which include notable names like XP, Magalu, SumUp, and Sicoob.

A significant achievement for Finansystech was becoming the first company in Latin America to receive FAPI (Financial-grade API) and CIBA (Client Initiated Backchannel Authentication) security certifications from the OpenID Foundation, an international standards body. This positioned the company as a key player in the secure implementation of Open Banking in Brazil. The company's growth trajectory includes a seed funding round of $445K in November 2021, led by Darwin Startups. In a major milestone, Finansystech was acquired by Celcoin in February 2023 for an initial amount of $16.3 million. The acquisition integrated Finansystech into Celcoin's broader Banking-as-a-Service (BaaS) and financial infrastructure offerings, with Danillo Branco taking the lead of Celcoin's Open Finance vertical. Following the acquisition, Finansystech gained access to Celcoin's Payment Transaction Initiator (ITP) license, enabling it to offer ITP-as-a-Service solutions. The company has also expanded its operations internationally, opening an office in Chile.

Keywords: Open Finance, Open Banking, API aggregation, BaaS, Banking-as-a-Service, financial infrastructure, fintech, FAPI certified, OpenID Foundation, plug-and-play platform, modular solutions, consent management, payment initiation, Danillo Branco, Celcoin, Open Insurance, data aggregation, financial software, Brazilian fintech, Latin America, ITP as a Service