After raising a notable €90 million funding early in January this year, the Stockholm based open banking platform Tink has now moved to source new assets. The company has acquired leading UK-based banking applications provider OpenWrks’ aggregation platform. Additionally, Tink has also entered into a strategic partnership where OpenWrks will power its applications across Europe through the Tink platform. Here’s all you need to know.
Acquisition to help Tink enhance offerings and expand connectivity in UK
Tink will further develop its open banking platform with the help of increased bank connectivity in the UK, thanks to the acquisition. Furthermore, the company says it will expand its UK connectivity into business account data. Tink’s UK business account data will be made available for all Tink consumers later this year. Customers of SME such as Xero, Liberis Finance and Snoop will now also get services powered by Tink’s open banking platform.