BNP Paribas Fortis and Tink team up for mobile banking
Tink teams with BNP Paribas Fortis
Belgium-based BNP Paribas Fortis will integrate the aggregation, personal finance management (PFM) and payment initiation technology from Swedish fintech Tink into its mobile banking applications.
The first step in the partnership between the two firms will be the release of the new multi-banking app for Hello Bank! later this summer. (Hello Bank! is BNP Paribas’ direct banking subsidiary, launched in early 2014 across a number of European countries.)
Tink and BNP Paribas Fortis will then work together to update the latter’s mobile banking service – Easy Banking App – by autumn.
Tink’s aggregation product allows for the aggregation of any financial information that is typically available in banks’ mobile apps.
Daniel Kjellén, CEO at Tink, is “beyond excited” to partner with BNP Paribas Fortis. “Our product is in great hands,” he adds. “The partnership is proof of a retail banking market that is becoming fully transparent and customer centric.”
Max Jadot, CEO BNP Paribas Fortis, says his team “strongly believes that technology and changing legislation, such as PSD2, offer exciting opportunities for banks and their clients”. He highlights Tink’s strong focus on business-to-consumer (B2C) and “a proven track record with its consumer app in Sweden with over half a million users”. The app was launched in 2013 and allows users to connect all bank accounts and credit cards, providing a full view of their finances.
This partnership is Tink’s first in the Belgian market, and follows the fintech’s last wave of partnerships in October 2017. BNP Paribas Fortis will join Nordea, Nordnet and Klarna, which partnered with Tink last autumn, and SEB and ABN Amro, which did the same in 2016.
Tink was founded in Stockholm in 2012, and has 70 employees today. Its investors include Nordea, Nordnet, ABN Amro Ventures, SEB Ventures, Sunstone Ventures, and Creades.
