By Aisling Finn on Tuesday 9 February 2021
Temenos’ 3,400 customers will be able to use Tink’s open banking-powered products as of today.
Through the partnership, Tink can offer its open banking tools, such as account aggregation and personal finance management services, to over 3,400 financial institutions that serve over 250m customers across 13 European markets.
Daniel Kjellén, co-founder and CEO of Tink, said: “By adding our open banking platform with deep bank connectivity, we can help banks in the Temenos community seamlessly access real-time, enriched financial data, enabling them to get a better understanding of their customers’ finances and to build new digital services that help people better manage their money.”
As of today, Tink joins a long list of fintechs featured on Temenos’ marketplace, including the likes of financial data integration fintech Codat, financial API provider Plaid and credit provider Equifax.
Joaquin De Valenzuela Muley, senior vice president and business line director for Temenos Infinity, added: “Tink provides a wealth of personal financial management and open banking solutions and expertise.”
“We are excited to offer Tink’s solutions on Temenos MarketPlace so that our customers can benefit from their innovative products to ultimately add value to their own client experiences and enable a broader open banking strategy.”
According to the Banking-as-a-Software provider, 60 challenger banks now rely on Temenos for the tech to provide their services.
Temenos offers a host of services for challenger banks, including enhanced SME onboarding for business banking services, per-country localised banking, and its new multi-currency accounts through Temenos Transact which will allow day-to-day transactions in many foreign currencies.
Tink and BNP Paribas first entered into a strategic partnership just shy of a year ago at the end of January 2020 after Opera Tech Ventures, BNP Paribas’ venture capital arm, took part in Tink’s €90m fundraise, which it has since doubled.