Following this announcement, Deutsche Bahn is expected to enable customers to use its modern mobility-sharing systems, run by the company’s subsidiary DB Connect. This process will take place in order to securely and quickly connect their bank accounts with an easier account onboarding process. At the same time, the procedure will include using Tink’s Account Check for ‘Flinkster’, a Germany-based car-sharing network, and the `Call a Bike` program, a bike-sharing system in the region.
Throughout this partnership, the companies will focus on optimising the manner in which individuals and customers cut their carbon emissions, as well as travel in a more sustainable way.
Tink’s Account Check solution was developed in order to instantly verify account details by leveraging real-time data straight from a client’s bank account, working with explicit consent. By verifying account details, the product is expected to reduce the risk of fraud since the information is coming directly from the customer’s bank. In addition, this process makes the set-up procedure instant, easy, and safe.
Account Check is also set to improve direct debit setups, as well as increasing conversion, and ensuring the correct account will be charged every time a bike or a car is used. By removing the overall requirement for manual entry in setting up direct debits, the solution will minimise user error and significantly streamline the customer experience. By leveraging instant and frictionless verification, Tink’s product is set to improve efficiency and enable payments to be taken securely, fast, and accurately.
With the implementation of Account Check, only valid direct debit mandates have been generated by the company, as fraudulent direct debit mandates are prevented by validating the data in a direct and secure manner, with the client’s bank. This process is expected to underline the firm’s commitment to improved security standards, and it is set to enable it to deliver the integrity and safety of its services.
The process of account verification can be completed in an easy and fast way, and it is expected to reduce failed payments, and optimise the overall protection against fraud, while also accelerating efficiency and adding value for both businesses and clients.
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