Banfico Launches Germany-Based Subsidiary to Serve European Clients as Part of Global Expansion

Banfico, a global regulatory technology (regtech) company, is launching a new subsidiary in Frankfurt, Germany to strengthen its commitment to the European market, enhance local operations, and drive innovation in regulatory solutions for banks across the region.

Establishing the new subsidiary, Banfico Europe GmbH, aligns with the company’s global expansion strategy, designed to support its growing European client base and leverage the region’s dynamic payments landscape.

Banfico explained that as Europe’s largest economy and a hub for cutting-edge technology, Germany provides the ideal environment for it to expand its footprint within the EU and collaborate with key partners.

Its new Frankfurt office will focus on supporting banks in complying with the upcoming Verification of Payee (VoP) regulatory requirement, which all banks must adhere to by October 2025. The subsidiary will also play a pivotal role in driving further innovation and contributing to industry initiatives and regulatory developments.

Kannan Rasappan, CEO of Banfico, commented: “We are thrilled to establish a presence in Germany, a vital market for us as we continue our global growth. This subsidiary will enable us to deliver enhanced, localised services and tailor-made solutions to better serve our European clients and partners across the entire European Union.

“Importantly from the data protection governance perspective, the new subsidiary will enable Banfico to offer localised operations and support.”

The new entity will be led by Paulo Barbosa, a seasoned expert with extensive international experience in the sector.

This expansion underscores Banfico’s long-term commitment to sustainable growth, market leadership, and delivering exceptional value to customers across Europe. Banfico Europe GmbH is now fully operational and will serve as a cornerstone for further growth in the region.