Finnish FinTech Mash has partnered with API developer Tink to improve its onboarding processes and financial insights for its customers.
Under the partnership, Mash will use Tink’s tech platform to provide smoother onboarding process and deeper control, visibility and insight about customers’ financial information.
Tink has designed a range of cloud-based, open banking tools which cover account aggregation, payment initiation, data enrichment and personal finance management.
The platform integration will begin later this year in Finland, before being extended to Mash’s operations in Sweden, Poland and Spain.
Mash has said the partnership is part of a wider plan to address shifts in financial services trends brought about by the new payment services directive (PSD2).
Founded in 2007, Mash offers consumers access to credit lines and a pay-later solution for retailers, in-store and online. The company partners with e-commerce platforms and lets their customers either pay later through invoice or instalments, with a credit limit of €10,000.
“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,” said Tink CEO and co-founder Daniel Kjellén. “It’s one of the use cases that will bring benefits to both their customers and to them as a business, which is exactly what open banking is all about.”
Sweden-based Tink previously raised a round of funding in 2017 from ABN AMRO and SEB, and other a number of other banks.
Earlier this month, Danish challenger bank Lunar Way chose the Tink API to add new payments and personal finance tools to its mobile banking app.
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