16 July 2018
Visit www.gemalto.com

Nordea joins EUR14 million funding round in PFM startup Tink

24 October 2017  |  13077 views  |  0 Nordea branch signage 2

Nordea is among a clutch of banks to have taken an equity stake in and signed a licensing deal with Swedish PFM startup Tink.

Nordea's interest in Tink follows a significant contribution by SEB and ABN Amro in a $10 million funding round sealed by the startup in May last year.

The Tink app continuously collects, sorts and analyses consumer spending into definable categories and provides user-defined budgets and alerts when a maximum spending limit is reached.

Topi Manner, head of personal banking at Nordea, says: “Tink is a very unique financial aggregator. The company found an easy way to visualize and keep up to speed with all financial transactions. At Nordea, we always aim to offer our customers the best possible digital user experience. Through this partnership, we take a huge leap in realising our ambition."

The smart budgeting features enabled by Tink will be gradually phased into the bank's mobile app across the Nordic countries, he adds.

“Over the coming years, regulations such as PSD2 will change the financial services industry," says Manner. "The Tink partnership will make us better prepared to meet those changes."

The deal with Nordea comes amidst a couple of other contracts with Klarna and Nordnet. In addition to the partnership agreements, SEB, Nordea, Nordnet (in the first funding deal from its recently launched fintech venture fund), ABN Amro, Creades and Sunstone have invested a further €14 million in Tink.

Daniel Kjellén, co-founder and CEO, Tink, says: “We see today’s announcement as evidence of a new generation of bank and fintech partnerships. By working together, we are paving the way for a new era of banking in Europe - unlocking the market to create greater choice and a better deal for consumers.”

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nordea to deploy AI to speed up customer service

Nordea to deploy AI to speed up customer service

07 July 2017  |  12211 views  |  0 comments | 24 tweets | 17 linkedin
Nordea begins API pilots

Nordea begins API pilots

04 July 2017  |  13061 views  |  0 comments | 16 tweets | 17 linkedin
Nordea strikes mobile money deal with fintech startup Betalo

Nordea strikes mobile money deal with fintech startup Betalo

28 March 2017  |  11489 views  |  0 comments | 18 tweets | 15 linkedin
Nordea readies for PSD2 with Open Banking API site

Nordea readies for PSD2 with Open Banking API site

01 March 2017  |  22276 views  |  2 comments | 33 tweets | 55 linkedin
Nordea collaborates with local startup on smart savings app

Nordea collaborates with local startup on smart savings app

17 February 2017  |  6858 views  |  0 comments | 3 tweets | 2 linkedin
Nordea sets up Group Digital Unit

Nordea sets up Group Digital Unit

30 June 2016  |  11218 views  |  0 comments | 5 tweets | 4 linkedin
SEB and ABN Amro join $10 million round in PFM startup Tink

SEB and ABN Amro join $10 million round in PFM startup Tink

19 May 2016  |  9898 views  |  0 comments | 9 tweets | 10 linkedin
Nordea scouts for fintech startups

Nordea scouts for fintech startups

13 May 2016  |  9267 views  |  0 comments | 11 tweets | 6 linkedin
ABN Amro collaborates with fintech startup to launch PFM app

ABN Amro collaborates with fintech startup to launch PFM app

16 December 2015  |  11531 views  |  0 comments | 23 tweets | 14 linkedin
Nordea sets up fintech accelerator

Nordea sets up fintech accelerator

03 July 2015  |  15345 views  |  0 comments | 24 tweets | 15 linkedin
Tink personal finance app raises $4 million

Tink personal finance app raises $4 million

12 September 2014  |  7392 views  |  0 comments | 7 tweets | 6 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit http://go.jumio.com/finextraAdVisit info.nice.comVisit www.aciworldwide.com

Who is commenting?

Suresh K Suresh K Commented on: I am the password
A Finextra member Finextra Member Commented on: Mastercard enlists Wor...
A Finextra member Finextra Member Commented on: Mastercard enlists Wor...

Top topics

Most viewed Most shared
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9774 views comments | 18 tweets | 30 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8320 views comments | 3 tweets | 1 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8218 views comments | 13 tweets | 17 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7800 views comments | 7 tweets | 13 linkedin
Anything Visa can do...Mastercard takes time outAnything Visa can do...Mastercard takes ti...
7695 views comments | 6 tweets | 14 linkedin

Featured job

to GBP £90K base, double OTE (estimate)
London, UK or Europe

Find your next job