“Can Spain's PSD2 aggregator monetise its FinScore both as a consumer loan marketplace and as B2B open-banking infrastructure for banks?”
Fintonic began in 2011 as a consumer PFM app aggregating bank accounts and generating a proprietary FinScore. It monetised as a broker for third-party loans and insurance. In 2019 it became the first Spanish fintech to hold combined AIS + PIS PSD2 licences from Banco de España, effectively repositioning as regulated open banking infrastructure. From 2021 it pushed the loan marketplace into point-of-sale distribution, and in 2023 it spun out OpenInsights — a B2B SaaS selling account aggregation, transaction enrichment and credit scoring to banks and enterprises — turning its consumer data moat into an infrastructure business alongside the lending marketplace.