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Tink Teams Up with Mash

Finland-based Mash will leverage account aggregation technology from fellow Nordic fintech Tink as part of an initiative to enhance the customer experience and offer new services. The company plans to use Tink to improve the onboarding process for new users as well as provide more control and insight into their financial accounts.

Calling Tink a “perfect match,” Mash CEO James Hickson praised Tink’s “pan-European connectivity” and work in Finland in support of the new partnership. “The quality of the aggregated data that Tink can access makes them a reliable source which will enable us to deliver a better service to our customers by making more informed decisions,” Hickson said.

Founded in 2007, Mash leverages proprietary algorithms, machine learning, and automation to provide consumer lending and payments solutions to thousands of customers a day. With offices in Finland, Sweden, Poland, Luxembourg, and Spain, the company has raised more than $153 million in funding (€138m).

“Mash is one of our partners who chooses to leverage the opportunities brought about by open banking to become more data-driven and deliver a better customer service,” Tink CEO and co-founder Daniel Kjellén said. He added that creating a win-win proposition for both Mash and its customers is “exactly what open banking is all about.”

With a single API integration, Tink offers cloud-based account aggregation (AIS) and payment initiation (PIS) services to help financial services companies bring new solutions to their customers. Tink provides data enrichment and categorization to ensure accuracy of user financial information, and offerings such as the its Tink Link SDK give companies an easy way to create a bank- and market-agnostic “one user authentication journey.”

Tink demonstrated its API platform at FinovateEurope 2018. Founded in 2012 and headquartered in Stockholm, Sweden, the company announced a partnership with Danish fintech Lunar Way in March, supporting payment initiation and PFM for Lunar Way’s mobile app. In February, Tink made even bigger fintech headlines, raking in $63 million (€56m) in new funding and going live in five new markets in Europe.

We featured Tink in our recent look at how banks can compete with Apple’s new credit card.