Tink Aims to be the Rails and Brains of Open Banking

Sweden’s fintech scene has come a long way in recent years and has proved to be one of Europe’s best fintech markets; Klarna and iZettle have both reached unicorn status and open banking fintech Tink could be next on that path; Tink’s platform allows banks across Europe to offer their customers a better mobile experience; Daniel Kjellén, Tink’s chief executive, tells #fintechFT that the company he co-founded in 2012 is aiming to be the “rails and brains” of open banking; rails is the process of connecting bank accounts from various banks into one platform so a consumer can see their full financial picture; brains is allowing customers to extract as much information out of the data as possible; Covid has helped the firm to accelerate new sales with Q2 being their best quarter ever; Mr Kjellén tells the FT: “This opportunity is global. Eventually you will need to invest $1bn. I’d love to invest heavily in other parts of the world. There is an opportunity to raise more money to accelerate growth.” Financial Times.

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