Home Business NewsBusinessBanking News Tink and BNP Paribas announce strategic partnership in Europe

Tink and BNP Paribas announce strategic partnership in Europe

by LLB Reporter
27th Jan 20 5:53 am

Open banking platform Tink and BNP Paribas have announced an extension of their partnership in Europe. In addition to Tink’s existing partnership with BNP Paribas Fortis, the retail network of BNP Paribas in Belgium, Tink is now also entering a partnership with the Italian retail network of BNP Paribas, Banca Nazionale del Lavoro (BNL). As part of the partnership, BNL will start implementing Tink’s solutions for account aggregation, payment initiation and personal finance management.

BNP Paribas and Tink’s strategic partnership is supported by a minority investment in Tink, made by Opera Tech Ventures, BNP Paribas’ venture capital arm.

Sophie Heller, COO Retail Banking & Services, BNP Paribas said, “We position ourselves as the trusted financial companion of our customers, so that we anticipate their needs, help them understand their situation, provide them with options and implement solutions on a daily basis and at critical moments. Tink’s solutions provide value added services to enhance our customers’ personal financial management. We are thrilled to develop this strategic partnership with Tink on a European level.”

Daniel Kjellén, co-founder and CEO of Tink added, “We are beyond excited to become the preferred technology provider of account aggregation, payment initiation and personal finance management technologies to one of the largest retail bank groups in Europe, that serves almost 18 million customers in the region. We look forward to supporting BNP Paribas on an European level.”

Since launching in Sweden in 2012, Tink has been dedicated to enabling banks, fintechs and startups to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions and build personal finance management tools. Today, Tink has more than 270 employees globally and is Europe’s leading open banking platform — enabling customers to connect to more than 2,500 banks that reach over 250 million bank customers across Europe.

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