“Can a consolidated DACH open banking provider become Europe's dominant Open Finance infrastructure layer under PSD3?”
Founded 2012 as FinReach, later rebranded finleap connect and then Qwist. In November 2023 Finch Capital acquired both Qwist and rival German open banking provider ndgit and merged them under a new Qwist Group holding — consolidating the DACH open banking / open finance infrastructure market. Today Qwist is a BaFin-regulated PSD2 AISP/PISP serving ~100 customers across DACH and Iberia with connect (data), assess (enrichment/scoring) and activate (pay-by-bank, account switch) product suites.
Qwist processes payments through Qwist Pay by Bank (self-operated). Disclosed money-movement rails: SEPA.
Qwist's lending and capital products are provided by Qwist Financing Platform (in-house).
Qwist connects to bank accounts through Qwist nrich (self-operated) and qwist.
The Embedded Finance Index 2026 maps 6 layers in Qwist's stack: Payments / PSP (Qwist Pay by Bank (self-operated)); Money movement (SEPA); Lending (Qwist Financing Platform (in-house)); Open banking (Qwist nrich (self-operated) and qwist); Unified APIs (Finch); Transaction enrichment (Qwist Data Enrichment (in-house)).
Qwist is founded in 2012 and headquartered in Berlin, Germany.
Qwist's acquisitions include ndgit (2023).
Get a read on where your own stack stands against Qwist and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.