Tink and An Post tap into Open Banking to enhance money management

Tink has expanded its existing partnership with Irish postal services provider An Post to use Open Banking for the latter’s Money Manager service. 

Using Tink’s Open Banking technology, the Money Manager smart budgeting tool securely links people’s current accounts and credit cards from all major banks in one place, giving them a deeper understanding and more holistic view of their financial behaviour over longer timeframes. 

Just 16 months since the initial partnership was announced, An Post’s Money Manager smart budgeting tool is now available to Irish customers, expanding access to the service beyond An Post Money customers. 

Tasha Chouhan, UK & IE Banking Director at Tink, commented: “In the current economic climate, people are understandably on the lookout for tools to help them understand and track their spending. 

“The expansion of our partnership with An Post means that anyone with a bank account in Ireland can now use their open banking-powered Money Manager app to access real-time insights into their financial circumstances. 

“At a time when many are struggling with their day-to-day finances, this will add considerable value to customers – putting power back into their hands and allowing them to make informed financial decisions.”

The money management service allows users to better manage their savings and set budgets to stay on track with their financial goals. To facilitate this, spending and budget alerts show users when they are approaching their personally-set limits enabling them to adjust their spending accordingly. 

Customers also receive insights into unusual transaction patterns and can categorise spending into different categories so that money can be mapped and tracked on an ongoing basis – helping to reduce financial surprises.

Bruce Richardson, Senior Manager Change at An Post, added: “Our recent research shows people in Ireland feel a lack of financial control, as they try to keep afloat during challenging times. 

“In fact, almost nine-in-ten (87%) over 18s have expressed financial concerns for the year ahead. We are proud to expand our existing partnership with Tink – allowing anyone with a bank account in Ireland to use our engaging Money Manager tools. 

“This enables us to provide people with a real-time view of their financial situation, with features which will help users to improve their financial situation.”