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Using aggregation to make data-driven decisions about customers

3 min read|Published August 30, 2019
Mash <3 Tink

When payment provider Mash wanted to upgrade its onboarding process and use data to give customers a better deal, they enlisted the help of account aggregation.

Payment fintechs have been one of the most prominent forces pushing for innovation and change in the banking sector. After all, they were the catalysts for PSD2 and the open banking movement across Europe.

The latest is Finnish payment service provider Mash, who joins forces with Tink to use our account information services (AIS) product to aggregate data – and give its customers a better service by making more informed, data-driven credit decisions. Mash allows its customers to make flexible payments at online and offline stores, and take advantage of a revolving line of credit.

Better data insight with AIS

With customer approval, Mash will be pulling real-time information from applicants’ bank accounts, allowing Mash to gather and pre-fill a lot of information during the onboarding process. Not only does this data improve the detail and accuracy of the customer information Mash can use to make faster, more informed decisions; it also slashes the burden on customers when it comes to finding and inputting their financial info.

But that’s just the beginning. By aggregating account information, Mash’s customers get a better overall deal and a better experience, because Mash has a great understanding of their financial situation and their needs. And by giving customers a fast and more informed credit decision, it allows people to take greater control of their finances.

Know-how that improves services

As well as using transaction data to make better initial offers, over time, it allows Mash to build a deep knowledge of its customers’ spending patterns and behaviour. The result? The ability to personalise and improve its services and customer experience – and push the functionality of its products to the next level.

For instance, Mash can use aggregation as an additional source of info to make targeted offers based on its customers’ financial situation.

For now, Mash will be using aggregation for its Finnish business – but as Mash grows, it can use our tech to extend its aggregation services across Europe into its existing markets – and beyond.

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