This partnership enables Younited to deploy instant credit to more consumers and businesses in Europe.

By using Tink’s data aggregation and pan-European connectivity, Younited receives customers' up-to-date financial data within seconds and processes credit applications instantly. This enables Younited to feed relevant data into its own high-end AI based algorithms to compute a holistic, accurate and up-to-date view of applicants’ spending habits and income streams - enabling a streamlined and accurate affordability assessment with an instant decision.

Traditionally, credit applications can take days and sometimes even weeks to process, leaving applicants in the dark when a quick decision is needed most. Younited, with the support of Tink’s products, are tackling this outdated process head on, using years of local and international experience as well as deep risk assessment knowledge.

Data-driven lending processes not only simplify affordability assessments, but by using bank account data to get a more rounded view of an applicant’s finances, it also makes sure better credit can be offered to customers, by being more accurate, inclusive and fair. Moreover, the usage of open banking connectivity allows a much simpler experience for the customers, with fewer documents to share and a much faster process overall.

For more than a decade, Younited has been transforming the credit industry, to make it more simple, innovative and transparent. Operating in five countries (France, Spain, Portugal, Italy and Germany), Younited has pioneered new disruptive technologies, such as applying open banking to credit decisioning, making lives easier for consumers, banks, fintechs and merchants.

Camille de Mari, Director France, Banking & Lending at Tink, commented: “Having a full and up-to-date picture of someone’s financial situation is crucial when it comes to making an accurate credit risk assessment. With capabilities made possible by open banking, our open banking connectivity across Europe means Younited can instantly access up-to-date transaction data, ensuring that they can give their customers access to the financial services they deserve, at speed.”

François de Bodinat, CPO at Younited, added: “Anyone seeking credit, whether for a loan or a retail purchase, deserves an ultra fast and hassle-free experience. Thanks to open banking capabilities and our partnership with Tink, we are now able to deliver this promise of instant credit decisions at scale - a first in Europe. We’re already serving more than a million customers, and together with Tink, we will expand our services across Europe, continuing our mission of changing the future of lending for the better.”

The collaboration between Younited and Tink is also expanding to offer financial coaching. By using the same open banking data that supports Younited’s lending decision, customers can instantly access Younited Coach offering them free personalised analysis of their financial situation as well as tips and recommendations to help them manage their overall budget more effectively.