Announced at Finovate Europe, the hyped Stockholm-based fintech company Tink will offer banks a way to empower their customers to take control over their finances. All by allowing banks to develop own products and systems on the Tink platform.
With 400 000 users in Sweden, Tink’s market-proven features and end-user insights can be leveraged by banks who wish to introduce new and innovative banking services at a superior time to market.
“We have already launched successful partnerships with two European banks and see a great potential in the value we create together. We’re very excited to open our platform to more partners who share our vision of creating a better consumer experience.”, says Daniel Kjellén, co-founder and CEO of Tink.
Existing bank partners – Dutch ABN Amro and Swedish SEB, both started collaborating with Tink during late 2016. The collaborations are going “extremely well”, according to Daniel. “We are very happy with how this is evolving, but also fortunate to have partners willing to go the extra mile for their customers”, he continues.
Tink’s services are what some have called “the future of banking”; a case in point for what the new PSD2 legislation hopes to achieve. The technology consists of market-proven PFM features, combined with account aggregation, payment initiations and tailor made product recommendations. The platform will be open for all partners and could be used for e.g. developing standalone applications or integrating the full Tink functionality into existing banking applications, everything under their own brand.