Germany-based bank Degussa Bank and Open Banking platform Tink have announced the launch of the personal finance management (PFM) app Placons in Germany as part of their Open Banking technology partnership.
The app, supported by the Degussa Bank Group, uses Open Banking to understand and improve the financial behaviour of users. Placons aims to help its customers to better manage their money. The integration of Tink's account aggregation technology into the app enables Placons users to see all of their bank accounts and transactions in one place, giving them an overview of their finances.
Placons then uses the PFM technology operated by Tink to analyse the financial behaviour of each individual user and thus generates valuable insights for them. Placons is already available in the German market and the aim is for the Tink platform to be used to expand the range to all of Europe.
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