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BANKSapi steps up bancassurance activities with Franke und Bornberg Investment


Munich-based PSD2 provider wins market-leading insurance analysis specialists Franke und Bornberg as partner to further expand its Banking-as-a-Service solutions and Data Analytics platform.

  • Together with Franke und Bornberg, BANKSapi will develop into the leading Banking-as-a-Service provider for non-and-near banks
  • Within the framework of the PSD2 regulation, BANKSapi’s technology makes it possible to integrate banking services into the range of services operated by third parties
  • “Smart Money” will help to align BANKSapi’s range of services more closely to the needs of insurance companies that want to accelerate their bancassurance activities and identify savings and improvement potential for their customers with the help of the financial DNA

BANKSapi expands its investor base to include renowned market participants from the insurance segment. The minority stake was held via a holding company of Franke und Bornberg and has already been completed.

With Franke und Bornberg, BANKSapi gains access to in-depth industry knowledge and excellent network contacts in the insurance landscape. Together with the founding team and the company builder and anchor shareholder Finconomy AG, Franke und Bornberg will support BANKSapi in combining the financial DNA extracted from the account transactions with the analytical data of the industry’s most comprehensive product database and the comparison calculators. Following the automatic recognition of insurance policies already implemented by BANKSapi, the Franke und Bornberg database will be used to evaluate the content of existing contracts and identify coverage gaps.

“With BANKSapi, we have found a progressive partner with whom we can address another chapter of the insurance industry’s future in a cooperative manner. Our data treasure and our insurance technology will be used for forward-looking and customer-oriented processes,” says Michael Franke, commenting on his company’s commitment.

Jan Wichmann, Co-Founder and Member of the Management Board of BANKSapi, adds: “The insurance industry is ready for bancassurance. We are delighted to have found Franke und Bornberg, a highly recognized service provider in the insurance industry, as an investor. This will strengthen our role as a Banking-as-a-Service provider for the insurance industry. With the combination of banking, the financial DNA and the services of Franke und Bornberg, we support our clients in offering new services with ‘Smart Money’ that will improve the financial lives of their customers”.

About BANKSapi Technology GmbH:
BANKSapi Technology GmbH is a Banking-as-a-Service provider based in Munich. The company provides an API that, once implemented, allows users to access their account, credit cards, home loan and saving contracts and securities accounts through their contractors’ front-end applications. The API gives banks, insurance companies, FinTechs and brokerage firms the opportunity to redefine banking services, improve bancassurance services, and increase the everyday relevance of their offerings. The hosting of the technology takes place in DATEV eG’s high-security data center and meets the highest standards of data protection and IT security.
BANKSapi Technology GmbH is backed by a founding team as well as the B2B Company Builder Finconomy AG.

About Franke und Bornberg:
Franke und Bornberg GmbH in Hanover has been analyzing and evaluating insurance products and insurers as a pioneer of insurance ratings since 1994 – independently, critically and practically. The Franke und Bornberg Research GmbH division develops and markets product databases and electronic comparison, information and consulting systems. These are based on information about insurance products and companies collected and processed by Franke und Bornberg GmbH. Franke und Bornberg is technically and economically independent and now employs more than 100 qualified staff. The company is one of the leading insurance analysts in the German-speaking region. People with personality, talent and experience work here in a dynamic environment.

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