Founded in 2012, Tink is enabling banks to become data-driven and capture the opportunities of Open Banking.
Tink is licensing its account aggregation, payment initiation, Personal Finance Management and categorisation technology to retail banks so that they can build their own mobile services and empower their customers to make smarter financial choices.
In April 2018, Tink launched a third-party developer platform, which makes its technology open to any company that wants to gain access to a given consumer's account data (with the consumer's permission). Tink describes it as "compressing the account data from 300 financial institutions into one API."
With a new brand identity centred around ‘financial happiness’, Tink's ambition is to provide data that gives consumers access to better deals through a host of new services. An online ‘mortgage challenger’ developed by Swedish bank SBAB uses Tink's platform to aggregate a customer's existing account data from other banks and offer them a better mortgage rate based on their financial data.
Tink is scaling across Europe, where its technology is already integrated with banks such as BNP Paribas Fortis, ABN AMRO and Nordea.