Tink continues European expansion with Instantor acquisition

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Europe-based open banking platform provider Tink has acquired credit decision solutions provider Instantor today, thus facilitating its European expansion. Tink is expected to leverage the acquisition for boosting its product offering and market position in Europe.

Simon Edström, CEO, Instantor, said, “I’m so proud of the team that now will join forces with an industry leader like Tink, and I believe this is a great strategic fit rooted in a shared mission. This move will help Tink expand its product offering and is a unique opportunity to continue to make significant investment in our portfolio of credit decision solutions. Together with Tink, we will create an even stronger European market leader in open banking.”

The company aims to continue its investment in intelligent data services-based on open banking. The acquisition will make Instantor’s products for credit decision solutions available to all of Tink’s customers.

Sweden-headquartered Instantor provides banks and FinTechs with products to enhance credit decisions. The company does this by extracting insights from consumer bank transactions to verify income and identify risk behaviours to allow for improved assessments of credit risk.

Daniel Kjellén, co-founder and CEO, Tink, added, “What Instantor has achieved to date in Europe is impressive. It has deftly proven to be a leading European provider of credit decision solutions based on open banking technology. We are thrilled to be able to offer Instantor’s market-leading credit scoring products to all of our customers and now look forward to continuing to invest in product development in that domain.”

Recently, Sopra Banking Software has teamed up with European FinTech Tink, thus enabling Sopra to integrate with the latter’s tech for offering new value and turn-key digital banking solutions.