Tink

Tink - Swedishfintechstartup-, founded in 2012. It is developing an open banking platform that allows the development of financial services. With its software interface, Tink allows customers to access financial data, initiate payments, and create personal financial management tools.

History

2021: Visa bought Tink for 1.8 billion euros

On June 24, 2021, Visa announced the purchase of Tink for 1.8 billion euros. After the close of the transaction, the Tink brand will remain on the market, and the team of company executives and its headquarters in Stockholm will also remain.

The Visa message noted that the transaction requires the approval of regulatory authorities and compliance with the usual conditions for its execution. The company emphasized that the purchase of the platform will not affect the previously announced program for the repurchase of Visa shares and its dividend payment policy.

Visa bought Tink for 1.8 billion euros

Tink operates in a growing open banking market. This concept is to use open APIs in the financial sector. It allows third-party developers to create services and applications for financial institutions, expands financial transparency for bank account holders, allows you to build an exchange of data about the client with his consent and form personal offers for him.

Visa is committed to doing everything possible to promote innovation and empower consumers in support of the goals of open banking in Europe, "says Visa CEO Alfred Kelly. - By combining the network of Visa networks and open banking capabilities of Tink, we will increase the value for European consumers and companies using tools that will make their financial life simpler, more reliable and safer.

Tink began as a financial management application, but later focused on providing its technology to other companies. By June 2021, the company's technologies allow you to connect to 3400 banks, which serve more than 250 customers throughout Europe.^[1]

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