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The popular German digital startup has agreed to be acquired by Groupe BPCE, the second-largest French bank. BPCE says the acquisition is part of an ongoing digital strategy that looks to leverage Fidor's open APIs.
PCE said in a press release the acquisition is part of the ongoing rollout of its new digital strategy. In addition to operating its own banking enterprise, Fidor has developed a proprietary digital banking platform — Fidor Operating System — that facilitates banking through application programming interfaces. Fidor Operating System will be offered as a white-label service through BPCE.
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