Stockholm, 11 May 2021: Tink and American Express have entered a European open banking partnership to improve the onboarding process for new card members.
Integrating open banking technology into the American Express application and risk analysis process will allow prospective card members to seamlessly connect to their bank accounts and instantly verify their identity, income and account information with American Express. This eliminates the need for customers to manually enter their details or send additional documentation to American Express, saving time and improving the customer experience.
The partnership will see Tink’s open banking services used by American Express in France, Germany, Spain, Sweden, the Netherlands, Norway, Finland and Belgium.
Fredrik Sauter, Head of growing markets at American Express, commented: "Our partnership with Tink will help make it easier and faster for future customers to apply for our American Express products digitally. Open banking technology not only speeds up the digital application process, but also helps us make better decisions. 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."
Daniel Kjellén, co-founder and CEO of Tink, added: "We are proud to announce this partnership with American Express, one of the world's leading payment companies with more than 100 million cards in operation worldwide. Tink's account verification, income verification and risk analysis technology will streamline the onboarding process for American Express customers, as we work together to create the future of financial services. This sets the standard for how larger brands are using open banking technology to convert analogue processes to digital, enhancing the customer experience."
Mattias Lindquist, PR & Communications Director, email@example.com, +46 8 509 08 999
About American Express
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com.
Tink is Europe’s leading open banking platform that enables banks, fintechs and startups to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions, verify account ownership and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe. Founded in 2012 in Stockholm, Tink’s 400 employees serve more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries. We power the new world of finance.