Banfico, a global leader in regulatory technology (RegTech), is proud to announce the launch of its new subsidiary, Banfico Europe GmbH, in Frankfurt, Germany. This strategic move strengthens Banfico’s commitment to the European market, enhances local operations, and drives innovation in regulatory solutions for banks across the region.
The establishment of Banfico Europe GmbH aligns with the company’s global expansion strategy, designed to support its growing European client base and leverage the region’s dynamic payments landscape. As Europe’s largest economy and a hub for cutting-edge technology, Germany provides the ideal environment for Banfico to expand its footprint within the EU and collaborate with key partners.
Kannan Rasappan, CEO of Banfico, commented on the new venture:
“We are thrilled to establish a presence in Germany, a vital market for us as we continue our global growth. This subsidiary will enable us to deliver enhanced, localised services and tailor-made solutions to better serve our European clients and partners across the entire European Union. Importantly from the data protection governance perspective, the new subsidiary will enable Banfico to offer localised operations and support“.
The Frankfurt office will focus on supporting banks in complying with the upcoming Verification of Payee (VoP) regulatory requirement, which all banks must adhere to by October 2025. The subsidiary will also play a pivotal role in driving further innovation and contributing to industry initiatives and regulatory developments.
The new entity will be led by Paulo Barbosa, a seasoned expert with extensive international experience in the sector.
This expansion underscores Banfico’s long-term commitment to sustainable growth, market leadership, and delivering exceptional value to customers across Europe. Banfico Europe GmbH is now fully operational and will serve as a cornerstone for further growth in the region.
About Banfico
Banfico is a London-based boutique firm specializing in delivering Open Finance and Verification of Payee (VoP) solutions. Trusted by over 200 clients, Banfico offers a Pan-European TPP directory service, Modified Customer Interface (MCI) solutions for banks, and a global VoP solution. Our Open Banking platform is designed to meet regulatory requirements in the UK, European Union, Bahrain, Australia, and Brazil.
We are a results-driven team, leveraging the latest technologies and deep expertise in Open Finance and Verification of Payee.To find out more, visit us at www.banfico.com/
Press contact:
info@banfico.com/