Tink joins forces with banking group SDC

Thursday 16 May 2019 00:57 CET | News

Tink, a Sweden-based fintech that provides APIs to create banking services, has partnered with banking group SDC to provide 120 Nordic banks access to account aggregation and payment initiation services.

According to Tink, the access will allow the banks to make money management smarter for 2.5 million customers.

Tink then revealed the access it means that SDC’s 120 member banks can be among the first in Sweden, Norway, Denmark, and the Faroe Islands to integrate account information from more than 220 Nordic banks into their mobile apps. It also gives customers a complete overview of their finances all in one place.

That’s phase one, set for launch in August 2019. In phase two, aggregation will also be rolled out to banks in Finland, and the payment initiation technology will go live across the board. Adding payment initiation to account aggregation is a game changer for the types of services banks can offer customers. Because once you can gather account information from different banks and make payments from any of those accounts in one app, any recommendations or advice a bank gives to their customers becomes instantly actionable.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Tink , SDC, Open Banking, API, account aggregation, payments, money management
Countries: World