BNP Paribas, the world’s eighth-largest bank, has selected Tink to be its preferred European partner for data aggregation and enrichment, payment initiation and personal finance management (PFM) technology – bringing our banking infrastructure and data services to the bank that serves 18 million customers in the region.
The strategic partnership extends the already-close relationship between Tink and BNP Paribas. In addition to our two-year-old partnership with BNP Paribas Fortis – the Belgian subsidiary who uses our tech in their Easy Banking App – Tink will be partnering with the Italian subsidiary Banca Nazionale del Lavoro (BNL).
The Italian retail banking network will start using our full tech offering – data aggregation and enrichment, payment initiation and personal finance management (PFM). And in doing so will enable its customers to start benefiting from a new generation of data-driven banking services.
Our ties with the Paris-headquartered bank are also immediately being strengthened by the minority stake that BNP Paribas Group’s venture arm Opera Tech Ventures has taken in Tink, as part of our recent €90 million investment round.
Becoming the preferred tech provider to one of the largest retail banking groups in Europe – and getting the opportunity to help improve the personal finance management of its 18 million customers – is a big step in the open banking journey.
It’s further proof that big incumbent banks like BNP Paribas recognise the opportunity that’s being presented by a shifting industry – and signaling that they want to be on the front lines.
The partnership with BNL, in particular, highlights the exciting ecosystem that’s taking shape in Italy – where consumers are increasingly turning to mobile services for their day-to-day banking. And big players are taking notice.
Poste Italiane – the country’s postal service and a financial services provider – also became a strategic investor in Tink in our most recent funding round.
This industry is developing so quickly – and we’re fortunate to be standing on the front lines with the best in Europe.
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