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Tink, Lydia partner for open banking in Europe

Thursday 8 October 2020 13:47 CET | News

France-based mobile payment app Lydia has selected Sweden-based Tink as its open banking technology partner to leverage access to PSD2 APIs across Europe. 

Following the partnership, Lydia will use Tink as its main open banking technology provider, for enhancing the app’s connectivity and adding new services. As a first step of the partnership, Tink’s account aggregation and payment initiation services are being integrated into the Lydia app. This will improve the way users connect their accounts across multiple banks, manage payment beneficiaries, and initiate bank transfers without leaving the app, according to the official press release. 

The Lydia app allows users to receive, send, and manage their money. Lydia has a 25% market share among French millennials and more than 5,000 new users sign up to the app every day. The French mobile payment app processes EUR 250 million of transactions per month. Tink has been dedicated to enabling banks, fintechs, and startups to develop data-driven financial services. 

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Keywords: Tink, Lydia, open banking, Europe, Sweden, France, mobile payments, app, PSD2, APIs, account aggregation, payment initiation, Lydia app, banks, bank transfers
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Europe
This article is part of category

Banking & Fintech