European open banking platform Tink is set to be acquired by Visa.
In Brief:
Tink was founded in 2012 and enables banks and FinTechs to access customer data more easily.
It currently works with more than 3,400 organisations.
The deal, according to Visa, is pending regulatory approval.
What does this mean?
The rollout of open banking has provided a number of opportunities for banks and FinTechs to improve their customer experience, but it is still early days and there is a lot of potential to be reached. Visa Is investing in this space to help find opportunities to connect third parties.
