Open Banking platform Tink and NatWest have announced a new partnership agreement that will impact NatWest’s mobile banking.
The agreement will give NatWest access to Tink’s Personal Finance Management (PFM) and Data Enrichment products that will be integrated into NatWest’s core mobile banking app. This will allow NatWest to upgrade its mobile banking offering by giving customers personalised insights based on their transaction history to help them feel more in control of their finances.
The partnership is a strategic choice that makes the bank well positioned to meet the increased customer expectations on digital financial services. The features built with Tink’s technology are planned to go live in Q4 2019.
NatWest becomes Tink’s first UK partner and joins European players including BNP Paribas Fortis, ABN AMRO, Nordea and Klarna. Earlier in 2019, Tink announced it had completed a new investment round, raising EUR 56 million from a group of new and existing investors.