PayPal has made a strategic investment in Swedish Open Banking platform Tink as part of a wider partnership between the two firms. Terms of the investment were not disclosed.
Two fifths (39%) of European financial institutions view the arrival of Open Banking regulation as the biggest current threat to their business model and 56% fear that consumer loyalty towards banks will be significantly reduced as they are forced to provide third parties with access to customer data.
SDC has licensed the Tink account aggregation app for use by its 120 member banks in Sweden, Norway, Denmark, Finland and the Faroe Island, making money management smarter and easier for 2.5 million customers in the Nordics.
British bank NatWest is integrating personal finance management and data enrichment technology from Sweden's Open Banking outfit Tink into its mobile app.
Finnish fintech company Mash partners with Tink to take the next step in becoming a fully data-driven payment solution provider.
Close to half of banks (41%) failed to meet a recent deadline for the Payment Services Directive (PSD2) to provide a testing environment or 'sandbox' for any third party service providers (TPPs).
BNP Paribas Fortis has added real-time account aggregation from multiple providers to its Easy Banking app, giving customers a single overview of their various bank accounts on one screen.
Swedish PFM platform Tink has completed a a €56 million investment round and rolled its business out to five new European markets as it prepares to take advantage of Open Banking rules.
Swedish PFM platform Tink has launched an API developer portal providing access to financial data from more than 300 banks in a single API.
BNP Paribas Fortis in Belgium has struck a deal with Tink to incorporate the Swedish firm's account aggregation, personal financial management and payment initiation technology into the bank's mobile app.
© Finextra Research 2019