With over 50 banks – some of which are the biggest in the world – France’s financial market has a wide reach in Europe and beyond. But the tech that enables businesses to launch new open banking services has largely been local. Until now.
The opportunities created by the open banking movement is big business in France. It’s a vibrant home for fintechs and startups alike – and now Tink is joining the party in Paris, opening a new office to help French banks expand their open banking connectivity across Europe.
The ecosystem for open banking infrastructure in France has remained mostly within its national borders. It’s because banks snap up many of the brightest fintechs to bolster in-house tech talent and drive internal innovation, so many are taken off the market before they can scale and offer their services internationally.
For many French banks with global reach, this means either they haven’t deployed open banking services across markets yet or are using a different local tech partner in each and every country.
We could see a Tink-shaped hole in the French market, with a clear opportunity to support fintechs and banks alike with open banking services and high-quality coverage across Europe.
Rather than needing to find a new tech partner in each country, we’ll offer French banks the ability to quickly deliver open banking services across Europe.
And French fintechs will now be able to expand their services across borders, offering their customers the chance to use mountains of financial data to better understand and manage money.
In a country where eye contact and a handshake are vital, our ambitious team will have the chance to meet potential partners where they are – and help French businesses deliver the future of financial services.
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