Open banking platform Tink announces partnership with Caixa General Depósitos

Open banking platform Tink announces partnership with Caixa General Depósitos
24.09.2019 01:09 pm

Open banking platform Tink announces partnership with Caixa General Depósitos

Cloud , Infrastructure

Swedish open banking platform Tink today announces a new partnership with Portugal’s leading bank, Caixa Geral de Depósitos (CGD).

CGD has integrated Tink’s products, with Aggregation, Payment Initiation, Data Enrichment and Personal Finance Management (PFM), in its newly-launched app — DABOX. DABOX is being launched to CGD’s 4 million strong customer base, and Tink’s platform will underpin the app to enable the bank’s customers to make smarter financial decisions.

In the run-up to this announcement, Tink has been working with SIBS, the leader in payments processing and financial technological services in Portugal, helping the country’s APIs to meet the standard required under PSD2 regulations. The implementation period took 6 months in total, including integrating the PSD2 APIs, applying machine learning to all categories and launching PFM in DABOX.

Daniel Kjellén, co-founder and CEO, Tink, said: “The open banking movement is fundamentally changing the financial services industry — transforming how millions of customers engage with banking services. We're honored to be working with a partner as forward-thinking as CGD, to combine our expertise and revolutionise their customers’ experience. Together, we will give CGD’s customers a complete overview of their financial lives, helping them manage their money more effectively and make smarter financial choices.”

Maria João Carioca, executive board member of CGD, said: CGD is undergoing a major digital transformation process that will reinforce the current leadership of the Portuguese market. We are moving into the Open Banking world with a firm belief that it will allow us new ways of answering people’s financial needs. We remain true to our values and believe that innovative and challenging partners, such as Tink, will allow us to combine innovation and a “fresh look” on the financial business with the universal service and trustworthiness that have been CGD’s trademark since 1876.”

DABOX is launching on the 24th of September to all CGD’s customers. Customers will be able to see their current accounts from all Portuguese banks and make payments and transfers between these accounts.  

Related News

Mphasis named one of the UK’s Top 50 fastest-growing Indian companies

Mphasis (BSE: 526299; NSE: MPHASIS), an Information Technology (IT) solutions provider specializing in... Read more »

Two in Five Fortune 500 Companies Choose Alibaba Cloud

Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, said today it has supported 38 percent of the Fortune 500 companies over the... Read more »

Boost to Smaller British Construction Firms as Updates to Sage Accounting Means Teams can Collaborate Wherever They Are, Saving Time, Staying Compliant

Sage, the market leader in cloud business management solutions, today announced new updates to its Small Business Accounting Solution. Designed to support small businesses in... Read more »

Cloud9 Chooses OpenFin to Empower “Virtual Trading Desks”

Cloud9 Technologies ("Cloud9"), a leader in cloud-based communications, has partnered with OpenFin, the operating system (OS) of finance, to streamline the deployment of Cloud9... Read more »

TIBCO Connected Intelligence Cloud Powers Agile Tool for Safe, Responsible Return to Work

TIBCO Software Inc., a global leader in enterprise data, empowers its customers to connect,... Read more »

Colt launches multi-cloud connectivity underpinned by its award-winning SD WAN offering

Colt Technology Services has today announced the launch of multi-cloud access on its award-... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel