Qwist provides a unified Open Finance platform that gives fintechs and digital merchants secure, PSD2‑compliant access to European bank and payment data through its Connect API. The Assess layer enriches this data with income verification and risk insights, while Activate adds embedded banking rails for account switching, portfolio migration, and pay‑by‑bank flows, enabling rapid product development and scaling.
Funding
$26.2M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
1OSIFounders
Product
Problem
Financial services companies often rely on fragmented legacy banking integrations that are costly, slow to update, and provide limited access to real‑time customer financial data, hindering product innovation and rapid decision‑making.
Solution
Qwist offers a unified Open Finance platform that consolidates secure, PSD2‑compliant access to bank and payment data across Europe. The Connect layer provides standardized APIs and consent management, enabling businesses to retrieve customer financial information safely. On top of this data, the Assess suite enriches raw transactions with income verification and risk insights, turning raw feeds into actionable intelligence. Activate then lets companies embed banking rails—such as account switching, portfolio migration, and pay‑by‑bank—into automated customer journeys, allowing rapid scaling of new financial products. By delivering a single, compliant infrastructure for data access, analytics, and transaction execution, Qwist reduces integration complexity and accelerates time‑to‑market for fintech solutions.
Target Audience
Primary customers are fintech platforms, e‑commerce merchants, digital lenders, and payment service providers seeking a single Open Finance solution to access data, derive insights, and launch banking‑enabled experiences.
Features
- PSD2‑compliant API suite with built‑in consent and security management for pan‑European bank and payment data
- Real‑time data enrichment including income verification and risk scoring to support underwriting and compliance
- Modular product layers (Connect, Assess, Activate) that can be combined or used independently
- Embedded banking rails for account and portfolio switching, account verification, and pay‑by‑bank flows
- Scalable architecture handling over 1 million transactions daily across multiple financial institutions
- Multi‑region coverage with connections to banks in all major European countries