Europe’s leading open banking platform Tink has ramped up its European expansion, boosting its physical and digital reach by launching its platform in Italy and Portugal, as well as opening new offices in Madrid and Milan.
Since its launch in 2012, Tink has gone from strength to strength growing its employee numbers from 20 in December 2016 to 270 globally in December 2019. The open banking platform gives access to financial data from 2,500 banks in Europe that are reaching 250m bank customers.
A key part of Tink’s success is its ability to stay close to its customers and hire local talent. Tink is already active in 14 markets, including the UK, Ireland, France and the Netherlands, where it has customers or local offices. Tink’s strategic expansion across Italy, Portugal and Spain will see the platform leverage the maturity that these markets have for open banking innovation and advancement.
Tink’s platform launch in Portugal follows its partnership with the country’s leading bank, Caixa Geral de Depósitos (CGD), in September this year. CGD integrated Tink’s products, with Aggregation, Payment Initiation, Data Enrichment and Personal Finance Management, for the launch of its financial consumer app, DABOX, to enable the bank’s customers to make smarter financial decisions.
Through its official launch in Portugal, Tink now gives all banks, fintechs and start-ups access to aggregated and enriched financial data from Portugal’s 20 largest financial institutions, with a reach of more than nine million bank customers, including ActivoBank, Atlantico Europa and Santander.
Tink has also strengthened its commitment to the Portuguese and Spanish markets with the appointment of ex BBVA New Business Director Beatriz Gimenez as Country Manager for Portugal and Spain. Headquartered in Madrid, Tink’s Iberian arm will drive the ambition to equip banks and third-party-providers (TPPs) with the technology that will allow financial institutions in Spain and Portugal to utilise open banking and develop smarter services.
Further cementing its position in Europe, Tink has also opened its Italian headquarters in Milan, appointing Marie Johansson as its Country Manager for Italy. Tink will offer Italian banks, fintechs and start-ups access to transaction data from 12 of the country’s key banks, including Unicredit, Intesa Sanpaolo and Banca Popolare di Milano. Tink will be able to access financial data of more than 33 million Italian end customers through the regulated PSD2 API, creating services that offer end users a truly personalised customer experience.
Daniel Kjellén, co-founder and CEO, Tink, said: “What a year it has been for Tink. From completing our €56 million investment round in February to improving product experiences for millions of customers across Europe, we have continued to turn our ambition of pan-European expansion into a reality.
“Our latest roll-out across Spain, Portugal and Italy strengthens our position as Europe’s leading open banking platform. In 2020, we hope to complete our pan-European coverage, propelling the development of customer-centric financial services and deliver the technology that makes it possible.”