CRIF Acquires Strands to Expand Open Banking Solutions for Banks

CRIF announced it would acquire Strands, a fintech company specializing in personal financial management (PFM) and business financial management solutions for banks. Strands provides digital money management tools that are embedded within banks' digital platforms, serving a network of over 6,300 financial institutions worldwide. The acquisition was expected to finalize within weeks of the announcement.

CRIF, which operates across credit reporting, business information, and digital solutions, plans to integrate Strands' technology to enhance its open banking product suite. The combined offering would help banks deliver more personalized financial insights and embedded finance experiences to their customers. Financial terms of the deal were not publicly disclosed.

The acquisition reflects the broader trend of infrastructure providers consolidating fintech capabilities to serve banks transitioning to open banking and API-driven models.