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Tink and American Express launch open banking partnership

Tink and American Express are partnering to improve the onboarding process for prospective card members in Europe, by using open banking technology to instantly verify identity, income and account information.

TL;DR – Quick summary

  • Tink and American Express have entered a partnership for open banking technology.

  • Prospective card members can instantly verify their identity, income and account information during the application process.

  • This eliminates the need to manually enter details or send additional documents – speeding up the onboarding process and improving the customer experience.

Tink and American Express launch open banking partnership

American Express needs little introduction – as one of the world's leading payment companies with more than 100 million cards in operation. So we’re proud to announce our European partnership with American Express, to improve the onboarding process for its users through our open banking platform.

Tink's account verification, income verification and risk analysis technology will streamline onboarding for American Express customers in France, Germany, Spain, Sweden, the Netherlands, Norway, Finland and Belgium. The open banking tech will be integrated into the application and risk analysis process, allowing prospective card members to connect their bank accounts, and instantly verify their identity, income and account information. This eliminates the need for customers to manually enter their details or send additional documents to American Express, saving time and improving the customer experience.

Ultimately, the partnership will help make it easier and faster for future customers to apply digitally for American Express products. ‘Open banking technology not only speeds up the digital application process but also helps us make better decisions,’ said Fredrik Sauter, Head of growing markets at American Express. ‘When looking for an open banking partner, Tink was a clear choice for us, due to its position as the leading European open banking platform.’

As we work together on creating the future of financial services, this partnership sets the standard for how larger brands are using open banking technology, to convert analogue processes to digital and enhance the customer experience.

Are you curious about how open banking technology can benefit your business? Check out what you could build with Tink.

TL;DR – Quick summary

  • Tink and American Express have entered a partnership for open banking technology.

  • Prospective card members can instantly verify their identity, income and account information during the application process.

  • This eliminates the need to manually enter details or send additional documents – speeding up the onboarding process and improving the customer experience.