The partnership will make money management smarter and easier for 2.5 million customers in the Nordics.
Stockholm, Copenhagen, 15th May 2019: The Nordic service provider has licensed Tink’s technology to offer multi-banking to its 120 member banks in Sweden, Norway, Denmark, Finland and the Faroe Island.
SDC’s vision is to make it easier for its member banks to deliver a great digital banking experience for its customers. Today, research shows that approximately 75 percent of the bank customers in Norway and 25 percent in the rest of the Nordic countries has two banks or more, making it complex to manage their finances in an efficient way. The partnership with Tink resolves that by allowing SDC to offer their banks an easy integration of account aggregation into their existing mobile channels, and give their customers a holistic overview over all of their finances in one interface - regardless of where they bank.
The partnership will give SDC’s members access to over 220 banks in the countries stated through one single API. Additionally, SDC are integrating Payment Initiation to offer its member banks the ability to help their customers move money between accounts in one interface, instead of having to switch between apps to do transfers and payments.
Sille Stener, Area Director at SDC said: “We are developing a new digital self-service platform for our bank’s end customers. Our mission to enable our members to empower their customers to make smarter decisions about their finances, based on total overview of their finances – and we’re delighted to be partnering with Tink to achieve this. Tink were chosen due to their business maturity, breadth in data access and experience in how we can deliver added value based on the financial data.
Daniel Kjellén, CEO and co-founder at Tink said: “It’s with great pride that we go into a partnership with SDC to enable them to take full advantage of PSD2. The partnership sits well in line with our aims to make it easy for others to build great products that gives consumers the tools to make smarter financial decisions.” SDC’s member banks will get access to Tink’s account aggregation API from August starting in Denmark, Sweden, Norway and the Faroe Island, later adding Finland as well as the payment initiation capabilities.
For more information, contact:
Julia Levander, PR Manager, Tink: julia.levander@tink.com, +46 72 400 84 42
Sille Stener, Områdedirektør, SDC: sist@sdc.dk, +45 5119 8978
About Tink:
Founded in Stockholm in 2012, Tink is a cloud-based platform that provides the infrastructure and value-adding data products that are enabling the future of financial services. Currently consisting of Account Aggregation, Payment Initiation, Personal Finance Management and Data Enrichment – Tink’s products can be used to develop standalone services or be integrated into existing banking applications. The company has 160 employees and its partners include SEB, ABN AMRO, BNP Paribas Fortis, and Nordea. Insight Venture Partners, Sunstone, SEB, Creades, Nordea Ventures and ABN AMRO Digital Impact Fund have invested in Tink.
About SDC:
SDC is an IT-centre providing an all-round service for financial institutions in Scandinavia. Our clientele is made up of over 120 Danish, Norwegian, Swedish, Faroese and Finnish financial institutions, which are also the owners of SDC. SDC is based on the philosophy of common solutions for common needs – and the cost saving benefits which go with it. SDC’s services are supplied at cost price to the owning Institutions. SDC’s core business is the development, maintenance, operation and joint purchase of IT solutions for the financial sector. SDC’s services are provided by SDC itself or SDC’s partners in cooperation and sub-suppliers.