BNP Paribas has teamed up with Tink in order to improve its account aggregation, payment initiation and personal money management services. The partnership between the two companies will involve Tink working with BNP Paribas’ Italy-based retail network Banca Nazionale del Lavoro (BNL). Tink’s solutions will be used by BNL to enhance its operations.
Sophie Heller, COO Retail Banking and Services at BNP Paribas, stated:
“We position ourselves as the trusted financial companion of our customers, so that we anticipate their needs, help them understand their situation, provide them with options and implement solutions on a daily basis and at critical moments.”
“Tink’s solutions provide value-added services to enhance our customers’ personal financial management. We are thrilled to develop this strategic partnership with Tink on a European level.”
The partnership is reportedly backed by BNP Paribas’ VC division Opera Tech Ventures’ investment into Tink’s operations.
Tink recently secured €90 million through a funding round that was co-led by London-headquartered business-to-business (B2B) software VC firm Dawn Capital and San Francisco’s investment management company HMI Capital.
Daniel Kjellén, co-founder and CEO at Tink, noted:
“We are beyond excited to become the preferred technology provider of account aggregation, payment initiation and personal finance management technologies to one of the largest retail bank groups in Europe, that serves almost 18 million customers in the region. We look forward to supporting BNP Paribas on a European level.”
BNP Paribas Securities Services has extended its license for Temenos Multifonds Global Accounting and Temenos Multifonds Global Investor solutions for the delivery of accounting and reporting for BNP’s capital allocation process.