Open banking platform Tink and FinTech app Revolut teamed up on a strategic plan to expand open banking technology to more people across Europe.
Tink enables customers to initiate payments, access aggregated financial data, enrich transactions, verify account ownership and build personal finance management tools, per the release.
The company connects to more than 3,400 banks that reach over 250 million bank customers across Europe.
“Revolut is one of the biggest success stories of the financial services revolution, offering services that better meet the needs of customers,” Daniel Kjellén, co-founder and CEO of Tink, said in the release.
“We are excited to be a part of the next stage in Revolut’s growth and see this partnership as an important step in the mass-market adoption of open banking-powered payments across Europe.”
Founded in 2015 in the U.K., Revolut offers money transfers, exchanges and other financial services for over 18 million people around the world making more than 150 million transactions a month.
“We are delighted to bring Tink’s solutions to Revolut”, said Ivan Chalov, Head of Retail at Revolut.
“Our partnership with Tink will enable Revolut to expand our open banking services across new markets in a fast and sustainable way.”
In April, Tink moved to take its PIS product to the Netherlands, Norway, Estonia, Finland and Latvia as demand for seamless digital payments experiences continued is demand.