Embat buys Necto to improve bank connectivity

Embat has acquired Necto, a US-based company focused on premium bank API connectivity, enabling seamless access to banking data and the execution and monitoring of instant payments. 

Necto’s technology enables companies to connect with multiple banks through a single access point, eliminating the need for individual integrations with each institution. This simplifies payment automation, bank reconciliation, and real-time financial data access. Since its inception, Necto has integrated more than 30 banks and nearly 100 API services. 

This acquisition further strengthens Embat’s cloud-based platform, which is designed for finance teams within mid-sized and large enterprises. It also enhances Embat’s ability to support clients in key markets such as the UK, Spain, and the DACH region and its integrations with financial institutions such as J.P. Morgan, Citi, Barclays, HSBC, Commerzbank, Deutsche Bank, and Wells Fargo. 

“At Embat, we are committed to modernising banking infrastructure through APIs, and Necto’s technology perfectly aligns with our vision. Their solution complements our banking connectivity capabilities and allows us to expand our coverage and partnerships with major global banks,” said Tomás Gil, Partner and CTO at Embat. 

Currently, Embat integrates with over 15,000 banking institutions and supports transactions in 70 currencies, managing financial flows for more than 300 corporate clients.