Latest news with #SCHUFA
Finextra
11 hours ago
- Business
- Finextra
Fabrick completes acquisition of finAPI
Fabrick, Italian company operating in the Open Finance industry, has completed the acquisition from SCHUFA Holding AG. of 75% of finAPI, one of the leading players in Open Banking in Germany. 0 The acquisition, authorized by regulatory authorities, expands the international perspective of Fabrick and enables the development of synergies for innovation in digital payments across Europe. The convergence between Fabrick and finAPI aims to improve customer experience in payments and access to financial data, making it increasingly secure, fast, and reliable. In this context, the combined portfolio of the two companies will offer enterprises clients a broader range of digital solutions. Specifically, finAPI's clients will benefit from Fabrick's extensive portfolio. Thanks to this operation, Fabrick is now entering high-potential markets such as Germany and Austria, in addition to Italy, Spain, and the United Kingdom. Fabrick not only strengthens its presence at European level but also confirms its DNA as an open ecosystem capable to grow through confrontation with different contexts and cultures and a mutual exchange of know-how and expertise. An asset that enriches the overall offer to the benefit of enterprise clients and their end customers, who can benefit from solutions that are increasingly effective, complete in line with the needs of a market in constant transformation. With its open finance platform, Fabrick orchestrates innovative solutions in the entire payment value chain. It operates as an enabler for banks, fintechs, and corporations, aiming to optimize the end-user experience by making it seamless and personalized. With the acquisition of finAPI, it not only gains expertise and experience, but also strengthens itself in a segment as strategic for the future as A2A payments, becoming one of the main European players by value of transactions. Founded in 2008 in Munich, finAPI is among Germany's pioneers in Open Banking, Data Intelligence, KYC, and Payments. The company serves more than 400 clients, including banks, insurance companies, fintechs, financial institutions, and software providers, operating not only in Germany and Austria, but also in numerous other European countries. In 2024, it reported net sales of €7 million, handling more than 5 billion API calls and a total volume of over €70 billion in account-to-account payments. Germany remains one of the most promising markets for Open Finance in Europe, thanks to strong economic, regulatory, and technological fundamentals. According to Grand View Research, the German Open Banking market was worth €1.7 billion in 2023 and could exceed €8.6 billion by 2030, with a CAGR of 26 percent. Embedded Finance is also growing strongly: estimated at $9.79 billion in 2024, it could reach $25.81 billion by 2029. Consumer adoption increased from 2% to 13% between 2022 and 2024, with 14% of consumers and 10% of SMEs already using embedded lending solutions. With the upcoming PSD3 directive, Europe is preparing to become the leading global market for Open Banking. In this context, the international presence of specialized players such as Fabrick fosters the evolution of Open Finance, promoting innovation, efficiency, and competitiveness. Paolo Zaccardi, CEO and co-founder of Fabrick, comments: 'The acquisition of finAPI represents a strategic step in our European journey. The integration of the two companies, which share a common vision and goals, allows us to enable new models of customer engagement and loyalty, through a fluid, omnichannel and tailored customer experience, in which payments become relationship opportunities. We proceed with a growth perspective based on the exchange of skills and targeted investments, with the aim of strengthening the solutions developed for customers and contributing to their evolution in an increasingly efficient, complete and innovative key.' Florian Haagen, CEO and Co-founder of finAPI, added: 'The merger with Fabrick marks a significant step for finAPI and our customers. Together, we can offer an even broader portfolio of digital Open Finance solutions - with greater flexibility, enhanced capabilities, and access to innovative payment services such as Fabrick's orchestration. For our clients, this means more possibilities and real added value. As part of Fabrick, we are ideally positioned to actively shape the future of Open Finance in Europe.'
Local Germany
25-03-2025
- Business
- Local Germany
10 things landlords in Germany can never ask of tenants
Finding a place to live is a process that almost all foreigners have to go through after moving to the country. Thanks to Germany's worsening housing crisis, this can be harder than it sounds. While searching for a home, tenants may come up against invasive requests from landlords or strange house rules and regulations. Though you may feel like have to accept these wild demands out of desperation, it's worth knowing that the law is on your side. Finding housing may be tough, but the good news for tenants is that Germany has some of the strongest rental protections in the world. What's more, there are plenty of helpful resources like low-cost tenants' associations to help you deal with difficult situations. Whether you're currently house-hunting or already renting, here are ten red lines your landlord is never allowed to cross. 1. Blanket bans on pets If you're hoping to have a furry companion at home you'll be pleased to know that your landlord isn't allowed to ban you from having pets in Germany. In fact, small animals like fish, mice and birds can be moved in automatically without having to let anyone know. When it comes to bigger pets like cats and dogs, notifying the landlord is necessary, but they still can't stop you adopting a four-legged friend without a good reason. Advertisement Similarly, having a pet isn't a valid reason for a landlord to evict you - unless your animal is causing a significant disturbance or danger to other renters. READ ALSO: Renting in Germany - What you need to know about keeping pets 2. Excessive private information Sharing what feels like your entire financial history is par for the course when house hunting - but there are limits about the type of info your landlord can request. While credit checks like SCHUFA, income details and references are necessary, personal information like medical records or your religion, marital status or race are not. In posts on social media, anecdotes have emerged of people being asked for excessive information when applying for flats in Germany. In one notorious post on Reddit, a woman shared that she had been asked to carry out a pregnancy test as part of the application process. In another, a man said the landlord had asked for proof of his German language skills. A German credit score in shown on a smartphone next to a rental contract. Photo: picture alliance/dpa | Peter Kneffel Both of cases go well beyond the scope of information a letting agent should ask for. Even in the case of visas and residence permits, these shouldn't be requested unless they directly affect your ability to rent. READ ALSO: Six confusing things about renting a flat in Germany 3. More than three months' deposit Landlords in Germany are entitled to ask for up to three months rent as a security deposit, but any more than this is not permitted by law. The deposit should also be kept safe in a non-useable account and returned within a reasonable time of the tenant moving out - usually within 3-6 months at the latest. Though part of the deposit may be withheld to pay for any damages, this should be clearly justified. Under no circumstances are "non-refundable" deposits allowed to be a thing. Advertisement 4. 'No Anmeldung' Most desperate flat-hunters in Germany encounter the words "no Anmeldung " relatively often in their search for a place to live. Usually, this happens when other tenants sublet all or part of their flat without the landlord's permission, and are afraid of the landlord finding out. In other cases, the landlord themselves may want to rent out their flat without the authorities' knowledge. Regardless of the reason, the person you're renting from should supply you with the evidence you need to register at your local Bürgeramt within two weeks of moving in. Forbidding you from registering is completely against the law. READ ALSO: Is renting a flat 'without Anmeldung' illegal in Germany? 5. Paying rent in cash Similar to the 'no Anmeldung' situation, some landlords may want to slip below the radar by demanding rental payments in cash. However, this can't be enforced as a rule without the tenant's agreement as well. That means that if you'd prefer to pay by bank transfer for ease or security reasons, you're perfectly entitled to do so. Cash lies on a table. Photo: picture alliance/dpa | Marijan Murat 6. No smoking Like neighbouring France, Germany tends to take a rather laid-back approach to smoking - and this is reflected in its rental laws. The landlord can ask you if you're a smoker before renting out the flat, and may consider it in their decision on whether to rent the property to you. However, your landlord isn't allowed to ban you from smoking once you're a tenant, either inside the property or on the balcony. In other words: it's your prerogative to light up whether they like it or not. Of course, there is a bit of a balance to be found here, and this is reflected in the law. Your right to smoke doesn't necessary extend to smoking in communal areas, causing excessive damage or disturbing other people, for example through smoke drifting up into other people's flats. Advertisement In these instances, coming to an agreement with your neighbours or landlord could be necessary. However, they cannot enforce a blanket ban on smoking in your own flat. READ ALSO: Can you get in trouble for smoking on your balcony in Germany? 7. No guests allowed Whether having friends round for dinner over the weekend or letting a family member stay for a long period of time, German rental laws allow you an almost unrestricted right to have guests in your home. "Tenants may receive as many visitors to their flat as often and as much as they like," Hamburg tenants' association summarises on its website . "It does not matter whether it is a male or female visitor, how long the visitor stays, whether they come regularly or irregularly - none of this concerns the landlord." This means that any clauses forbidding or restricting guests in your tenancy agreement are generally invalid. Advertisement If a guest stays for a prolonged period, of course, the landlord is entitled to ask if they have moved in as a fellow renter. If so, they do have a right to be notified and asked for permission - though they need to have a very good reason for denying the request. 8. Invading your privacy When a landlord rents out their property to you, this property becomes your home and private space. With this in mind, German law holds this space sacrosanct and has very strict rules about when - and why - the landlord can enter the property. As a good rule of thumb, your landlord should always ask permission when entering the flat and give advance notice and a valid reason for any inspections. Turning up unannounced and letting themselves into the property is an absolute no-go, unless there's a serious emergency. Advertisement 9. Major maintenance and repairs When it comes to repairs and renovations, there's a strict division of labour: your landlord is responsible for this type of maintenance work, and you are not. In other words, your landlord can't force you to take on big repair or maintenance jobs on their behalf - even if you've caused the damage. A man drills a hole in a wall at home. Dealing with noisy neighbours can be a challenge in Germany. Photo: picture alliance/dpa/dpa-tmn | Kai Remmers One common example of this is landlords asking tenants to repaint the entire apartment ahead of their scheduled moving date. Though clauses like this crop up frequently in rental contracts, they tend to be invalid since they go beyond what's required of the tenant by law. Of course, things can get tricky when deposits are involved, so it's a good idea to seek advice from your local tenants' association to clarify your rights. 10. Immediate evictions One of the strongest protections that tenants have in Germany is the protection from unfair evictions. Unlike in other countries where "no fault" evictions are possible - or even common - landlords in Germany must have a good justification for getting rid of a tenant. READ ALSO: What can get you evicted as a tenant in Germany? These can include months of missed rental payments or major breaches of the contract, such as regularly and repeatedly breaking house rules. The landlord can also ask a tenant to leave if they require the property for their own use - although there are strict criteria for this. Advertisement In most cases, the landlord is required to give you at least three months' notice - and up to nine in some cases - before asking you to move out. This can only be reduced in the case of serious infractions such as criminal activity or threatening other tenants.
