Tink is a leading open banking platform in Europe, that enables fintech, banks, and startups to develop financial services. It provides solutions that encourage the best customer journeys with good financial benefits. Tink Banking Platform
After serving for many years, the EU open banking companies now cover most of the continent, making it the largest in Europe.
By snapping by smaller rivals, it has neutered several new markets in a short while. Meanwhile, big payment players are also in the queue to acquire better financial services from Tink, rather than building their own financial structure from scratch.
The Swedish provider, Tink, has also been incredibly skilled in expanding its reach in the region, regardless of who they are relying on. Sometimes on a rival firm, or on a multi-million-euro takeover. However, Tink has utilized most of his business relationships to ensure their legacy in the industry.
In short, Tink is a platform that works with one API and endless opportunities.
What Does Tink Do?
Tink’s open banking platform enables customers to access aggregated financial data, build personal finance management tools, enrich transactions, and initiate payments.
It further allows finches, startups, and banks across European countries. In other words, Tink connects over 250 million bank customers in Europe.
Tink is basically the first choice of market leaders and the reasons are varied. It has a unique platform to suit international clients. To be accurate, they handle more than 1bn API calls with over 99% uptime per month.
Today, the world is dependent on industry leaders like NatWest, Lydia, PayPal, EnelX, and CGD, and interestingly, it is Tink that enables these big companies to provide millions with praiseworthy services. So Tink can evidently state that they possess solutions that are accepted by millions.
Tink further owns a string of products that can help businesses achieve a series of different goals, including streaming onboard to capture the attention of new users and processing millions in payments.
The Company’s Profile And History
The EU open banking firm was founded in 2012 in Stockholm, Sweden. Until now, they have been connecting banks and other financial institutions across Europe to get enriched financial data. Throughout the past decade, Tink has been serving in more than 14 European markets out of 12 offices.
With headquarters in Stockholm, Sweden, Tink appears to have grown massively within the financial industry.
How Is Tink Attracting New Customers?
Tink helps financial institutions and banks to deliver easy and accurate solutions to engage customers while simplifying operations at lower risk. If it further offers high-quality financial data, which adds efficiency to its operations. Therefore, it is said that Open banking works with several new possibilities.
Moreover, Tink researches the financial needs of its potential customers and has simplified usage of Tink so that its arrangements don’t bother existing or new customers.
In fact, CGD in partnership with Tink recently launched an app from scratch in less than 6 months and today, over 33% of the app users are new customers.
Also, Tink understands what a customer wants to feel like most often, customers want to feel controlled, but at the same time, they also want to explore a highly personalized and easily accessible platform.
And Tink has certainly fulfilled that by creating appropriate Financial Management products that are specifically designed to create engaging experiences.
Moreover, an open banking platform like Tink is the best option for banks to make decisions based on real-time reliable data. Through that, the banks can guarantee an improved customer experience with zero friction and paperwork.
With more than 400 employees, Tink has generated a revenue of $154.7M.
CGD’s Built-in Partnership With Tink
CGD is a Portuguese banking giant that met Tink with a deal to give them access to features that help their 4 million customers throughout Portugal to manage money effortlessly.
Within 6 months, Tink delivered the final product and CGD launched their new finance management app, DABOX, with a built-in partnership with the EU open bank platform.
Meanwhile, DABOX (the first bank-agnostic PFM app released in the Portuguese market) fulfilled the conditions put forward by CGD by being a personal financial coach, providing clients with unmatched insight into their economy as well as offering advice to set budgets and ultimately promoting savings goals.
Tink’s Finance Management Benefits Customers In Different Ways
The digital banking app is equipped with data enrichment technology that can easily adapt to a third-party provider. It functions in such a way that it can enrich transaction data and come up with engaging and innovative solutions.
By cooperating with Tink’s data enrichment technology, banks can further provide their clients with nudges to help regulate their climate impact with their mobile banking app and offer insights into their individual carbon footprints, which are entirely based on their daily transactions.
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Top Tink Integration And Technologies
Here is the list of the trending APIs and technologies used by Tink
Programming languages:
- JavaScript
- Python
- PHP
- Java
- HTML
- CSS
Corporate Learning Management Systems
- Kallidus
- eSSential
- Litmos
- Dokeos
- Lynda Business
Web Analytics
- Google Universal Analytics
- Google Global Site Tag
- Bing Universal Event Tracking
- Google Analytics
Does Tink Offer Ready-To-Go Products?
Ready-to-go products are one of the most important features that are offered by Tink since their primary goal is to solve financial needs.
The ready-to-go products include ‘Account Check,’ which is delivered to the customers in order to create a simple and quick payment setup, whereas, ‘Transaction’ is the second product offered by the open banking platform to access real-time data from banks across Europe.
They further provide an ‘Income Check’ that enables the financial institution to understand the true potential of their customer by constantly checking on their real-time income.
The two other products are ‘Money Manager’ and ‘Payments,’ with the former enabling customers to have a better insight into managing money whereas the latter improves their payment experience.
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