Swedish open banking platform Tink has secured an agreement with Portugese bank, Caixa Geral de Depósitos (CGD).
Through the partnership CGD will integrated Tink’s products into its new mobile app – DABOX.
Products incorporated into the app include: Aggregation, Payment Initiation, Data Enrichment and Personal Finance Management (PFM)
Maria João Carioca, executive board member, CGD, commented: “CGD is undergoing a major digital transformation process that will reinforce the current leadership of the Portuguese market.
“We are moving into the Open Banking world with a firm belief that it will allow us new ways of answering people’s financial needs.
“We remain true to our values and believe that innovative and challenging partners, such as Tink, will allow us to combine innovation and a “fresh look” on the financial business with the universal service and trustworthiness that have been CGD’s trademark since 1876.”
DABOX is available to CGD’s 4 million customer base; Tink’s platform is expected to provide its users with the guidance to “make smarter financial decisions.”
The app is launching on the 24th of September to all CGD’s customers.
Daniel Kjellén, co-founder and CEO, Tink, added: “The open banking movement is fundamentally changing the financial services industry — transforming how millions of customers engage with banking services.
“We’re honored to be working with a partner as forward-thinking as CGD, to combine our expertise and revolutionise their customers’ experience.
“Together, we will give CGD’s customers a complete overview of their financial lives, helping them manage their money more effectively and make smarter financial choices.”
Tink has already been working with SIBS, a Portugese payments processing and fintech services provider, as the country’s APIs were being developed to comply with the recent PSD2 regulations.
