Tink Comment: 4th Anniversary of PSD2

  • Daniel Kjellén, CEO & Co-founder at Tink

  • 13.01.2022 05:15 pm
  • #Investment

Daniel Kjellén, CEO and Co-founder at Tink, commented

Open banking itself will play a huge role in how businesses meet regulatory requirements for sustainability, such as mapping investments against ESG ratings, understanding the risk profile of customers, and accessing or providing loans to fund change throughout society. The need for data sits behind many of these issues, either from within an organisation itself or through a data outreach programme towards its customers.

“At the retail level, by aggregating and enriching account data, open banking powers consumer apps that enable individuals to track, understand and change their behaviour to improve their carbon footprint. NatWest is a great example of a bank taking huge strides in this area — recently launching a carbon tracker within its money management app in partnership with Cogo and Tink – to help NatWest customers reduce the climate impact of their spending. Open banking is key to creating more of these solutions which is likely to be a bigger focus for financial institutions next year.”

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