BNP Paribas Fortis signs deal with Swedish PFM startup Tink

BNP Paribas Fortis in Belgium has struck a deal with Tink to incorporate the Swedish firm's account aggregation, personal financial management and payment initiation technology into the bank's mobile app.

The first step will be the release of the new multi-banking app for BNP Paribas' digital offshoot Hello Bank! later this summer, with the technology making its way onto the bank's Easy banking app by autumn. 

Tink has been live with its consumer app on the Swedish market since 2013, and gained over 500,000 users. Its investors include Creades, Sunstone Ventures, SEB Ventures, Nordea, Nordnet and ABN AMRO Ventures.

Max Jadot, CEO BNP Paribas Fortis says the partnership is the first in a wider plan to build new, innovative services with select startups under the revised EU payment services directive (PSD2)

“We strongly believe that technology and changing legislation, such as PSD2, offer exciting opportunities for banks and their clients, he says. "Working closely with successful fintechs and integrating them into our ecosystem is part of the DNA of our bank."