Tink announces open banking partnership with Enel X

By Megha Bhattacharya

Open banking platform Tink announced that it has been selected by Enel X, the business line of European utility company- the Enel Group, as it open banking technology provider. The FinTech’s personal finance management technology will allow Enel X Financial Services to develop digital financial solutions for its clients in Italy and Europe.

Giulio Carone, CEO at Enel X Financial Services, said, “This agreement is an important step in our ongoing commitment to become a leading player in the digital banking market, powered by the new possibilities created by open banking, integrated within the Enel ecosystem that embeds services like energy and e-mobility. Through the partnership with Tink, we will be able to support our clients in the daily management of their finances, with an innovative and engaging solution that uses machine learning to provide tailored and personalised advice.”

According to Tink, the new digital financial solutions built by Enel X Financial Services are expected to be launched soon. Enel X Financial Services is expected to enable the company to leverage on the access to Tink’s solutions for digital banking and personal finance management, available through Tink’s open banking platform.

Recently, Tink announced the acquisition of aggregation platform of UK-based OpenWrks. The acquisition is expected to strengthen Tink’s connectivity coverage and enable OpenWrks to boost its apps across Europe.

Daniel Kjellén, co-founder and CEO of Tink, added, “We are extremely proud to team up with the financial services subsidiary of one of the world’s largest utility companies and become their open banking technology partner. By teaming up with Enel X Financial Services, we will together and over time make Tink’s open banking technology available to millions of Enel customers across the world. We look forward to supporting Enel X in their mission to become a leading player in the fintech domain.”