Nocashevents Although open banking is more popular than ever, European financial institutions say it may take over a decade to complete open banking objectives

Although open banking is more popular than ever, European financial institutions say it may take over a decade to complete open banking objectives

Tink survey of financial executives shows open banking is more popular than ever. The share of executives feeling positive towards open banking increased from 55% in 2019 to 71% in 2021. More importantly, it is now widely considered a higher priority area with 8 out of 10 financial executives (83%) saying that it represents a revolution (rather than an evolution) for the industry. In spite of growing positivity, the complete […]

Nocashevents Visa's response to PSD2. The card giant to acquire European open banking platform Tink for 1.8 billion Euros.

Visa’s response to PSD2. The card giant to acquire European open banking platform Tink for 1.8 billion Euros.

Visa today announced it has signed a definitive agreement to acquire Tink, a European open banking platform that enables financial institutions, fintechs and merchants to build tailored financial management tools, products and services for European consumers and businesses based on their financial data. Visa will pay total financial consideration of 1.8 billion Euros, inclusive of cash and retention incentives, to acquire Tink. Through a single API, Tink allows its customers […]

Nocashevents An open letter from Tink to European National Competent Authorities (NCAs), calling for flexibility around the PSD2 implementation deadline

An open letter from Tink to European National Competent Authorities (NCAs), calling for flexibility around the PSD2 implementation deadline

By Tomas Prochazka, VP of Product, Tink Banking is facing its biggest remake in history. Technological developments, changing consumer expectations and new regulations are forcing the industry to open up. The EU commission’s PSD2 is ushering in the era of open banking by allowing new entrants access to customers’ financial data. Its ambition is to level the playing field in the industry so that more companies can offer consumers greater transparency […]

Nocashevents Tink analysis: Bank APIs not ready for PSD2 deadline. The only way forward is for national authorities to create an extended transition period.

Tink analysis: Bank APIs not ready for PSD2 deadline. The only way forward is for national authorities to create an extended transition period.

Could the poor quality of bank APIs put the success of PSD2 in jeopardy? A Tink analysis finds that none of the tested bank APIs released by the penultimate 14th June deadline meet the quality requirements laid out by PSD2 regulators – potentially creating a “cliff edge” scenario in September that compromises the financial services for millions of consumers. As a third party with a PSD2 license, we’re required to use all […]

Nocashevents Open banking in numbers – insights and data from 270 European bankers. „Compliance alone is a losing strategy.”

Open banking in numbers – insights and data from 270 European bankers. „Compliance alone is a losing strategy.”

Tink’s key findings and insights from their European survey of nearly 270 financial executives. Learn what they see as the threats, opportunities and challenges this open banking movement presents – and what it means for the industry in 2019 and beyond. In May 2019, Tink surveyed financial executives in the following 17 European countries: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Italy, Latvia, Lithuania, Netherlands, Norway, Poland, Portugal, Spain, Sweden, […]

Nocashevents EBA says banks need to increase the quality of their PDS2 APIs

EBA says banks need to increase the quality of their PDS2 APIs

This is the second piece in an ongoing series called Tink Thinks: Inside the EBA, where Tink’s experts explain and comment on the business of the European Banking Authority’s (EBA) PSD2 API working group, which is helping to ease the implementation process ahead of the September deadline. The series Tink Thinks: Inside the EBA is part of a broader public policy effort at Tink to advocate for third-party providers (TPPs), so that […]

Nocashevents Financial institutions cautiously optimistic about Open Banking opportunity – research

Financial institutions cautiously optimistic about Open Banking opportunity – research

New research published by Open Banking platform Tink has revealed that European financial institutions still have significant concerns about Open Banking impact, according to thepaypers.com.Two fifths (39%) see Open Banking regulation as the biggest current threat to their business model and 56% fear that consumer loyalty towards banks will be reduced as a result of Open Banking. Nevertheless, the report – based on a survey of 269 senior decision makers in […]