NextGen.Net: Acquires Frollo to lead the way in open banking
- Announced it has acquired Frollo, a purpose-driven Australian FinTech and leading provider of financial management and Open Banking solutions
- The strategic acquisition brings together industry leaders from complementary business areas to help both companies
- The addition of Frollo’s complementary technology and teams will strengthen existing NextGen.Net solutions
- Frollo will leverage the experience and resources of NextGen.Net while providing Open Banking technology
- Consumer Data Right (CDR) is a government led scheme which mandates that banks share consumer data in a machine-readable way
- As part of the transaction, the Frollo brand and business will continue to operate independently
