This will allow developers to use Tink’s Account Aggregation and Categorisation products via a self-serving platform, empowering them to quickly build and launch customer centric products for their end users. While PSD2 will be taking full effect in the next 18 months, Tink already aggregates beyond PSD2 payments data, allowing developers to access more than the data connected to payment accounts.
Tink lets developers access financial data from more than 300 banks in a single API, once the end user has given their consent for this data to be accessed. The developer platform will make it faster and easier for developers to experiment and launch new and innovative customer-facing products. The complexity of authentication, and the end user’s interaction with banks, is handled entirely by Tink – leaving developers to focus on using the data and building a better user experience.
The solution is not limited to fintechs, but can be used by developers across any sector who would benefit from accessing financial data to improve their products for end users.
While the initial launch will support banks in the Nordics, the platform will soon be rolled out across Europe and continuously expand with additional features and developer tools. Tink is already live with partners including SBAB, who has launched a ‘mortgage challenger’ by aggregating their consumers’ mortgage data via Tink, using information on current mortgage rates to offer them a better deal.
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