Polish fintech companies Braintri and iCompass have started the process to merge their operations in a bid to offer banking and payment solutions globally.

The combination will enable the companies to expand their product portfolio as well as enter into new markets.

Primarily, Braintri and iCompass aim to expand their presence in the EU region, the Middle East, Asia, and the US regions.

What services Braintri and iCompass provide?

Established in 2013, Braintri specialises in the development of mobile banking apps for Polish banks.

It was also associated with the implementation of Poland’s non-card payment standard BLIK.

Currently, it is involved in the development and implementation the national open banking standard in Poland.

Commenting on the merger, Braintri COO Wojciech Zatorski said: “The partnership is a step forward in Braintri’s strategy to enter global markets.”

On the other hand, iCompass is engaged in offering software solutions to banks and payment companies.

It has developed the universal payment gateway Octopus Payment Hub as well as the technology provider for the first Polish mPOS platform.

Once the merger is complete, the combined firm will be rebranded.

Subsequently, Braintri will focus on the development of mobile applications, big data solutions and payments product lines.

Additionally, it also intends bolster its insurtech capabilities.

Until the completion of the transaction, both the fintech companies will operate as separate entities.