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Tink buys UK-based OpenWrks' aggregation platform

Monday 21 September 2020 11:30 CET | News

Open banking platform Tink has acquired the aggregation platform of OpenWrks, a UK-based provider of open banking applications. 

Through the acquisition, Tink will enhance its open banking platform by increasing its bank connectivity in the UK. In addition to strengthened coverage of personal account data, Tink will expand its UK connectivity into business account data. The launch of UK business account data will be made available to all Tink customers later in 2020. The acquisition brings fintech and SME customers such as Xero, Liberis Finance, and Snoop, that following the deal will be powered by Tink’s open banking platform. 

The acquisition is also part of a strategic partnership between Tink and OpenWrks, where OpenWrks will power its suite of applications through Tink’s platform connectivity. The partnership will enable OpenWrks to accelerate the growth of its affordability and data services business internationally and make its MyBudget and data services available to core European markets early in 2021 in response to growing demand, according to the official press release.

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Keywords: Tink, UK, United Kingdom, aggregation, platform, OpenWrks, open banking, bank connectivity, personal account, business account, data, fintech, SME, Xero, Liberis Finance, Snoop, open banking platform, MyBudget, data services, Europe
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Europe
This article is part of category

Banking & Fintech