Belgium’s leading bank BNP Paribas Fortis and Swedish fintech Tink have signed an agreement in view of integrating Tink’s Aggregation, Personal Finance Management (PFM) and Payment Initiation technology in BNP Paribas Fortis’ mobile banking applications.
The first step in the partnership will be the release of the new multi-banking app for Hello Bank! later this summer. Tink and BNP Paribas Fortis will work together to update Easy Banking App, Fortis’ mobile banking service by autumn.
Tink’s aggregation product allows for the aggregation of any financial information that is typically available in banks’ mobile apps. The partnership is part of BNP Paribas Fortis’ wider plans to enhance user experience and build new, innovative services for their customers under the new payment services directive (PSD2).
Commenting on the partnership, Daniel Kjellén, CEO at Tink, said: “We are beyond excited to partner with such a forward leaning bank as BNP Paribas Fortis – our product is in great hands since we share the view on how the future of open banking will be. The partnership is proof of a retail banking market that is becoming fully transparent and customer centric, where the innovators who choose to invest early in technology will gain insights that can attract new customers and expand existing ones.”
Max Jadot, CEO BNP Paribas Fortis, commented: “We strongly believe that technology and changing legislation, such as PSD2, offer exciting opportunities for banks and their clients. Clients of banks can expect increased convenience and remain at all times in control of their data. Working closely with successful FinTechs and integrating them into our ecosystem is part of the DNA of our bank. To enhance client satisfaction and forge ahead in innovation, we signed a partnership with Stockholm based FinTech Tink. Tink has a strong focus on B2C and a proven track record with their consumer app in Sweden with over half a million users. We are thrilled to team up with Tink in view of enhancing our client’s convenience while continuing to guarantee the same high level of protection of client data.”
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, who partnered with Tink last autumn, and SEB and ABN AMRO who partnered with Tink in 2016.