Tink signs Open Banking partnership with French FinTech Lydia

By Megha Bhattacharya

French mobile payment app Lydia today selected open banking tech provider Tink with an aim to utilise access to PSD2 APIs across Europe. The companies have joined forces to work on boosting bank account connectivity for improving the app’s user experience. The new open banking connectivity will be released in the coming weeks.

Tink’s account aggregation and payment initiation solutions will be integrated into Lydia’s mobile payment app, in a bid to improve the way users connect their accounts across multiple banks, manage payment beneficiaries and initiate bank transfers without leaving the app.

Cyril Chiche, co-founder and CEO of Lydia, said, “We are proud to partner with a global open banking leader like Tink, that can support us in our international growth. By teaming up with Tink, we aim to give Lydia’s users the best possible user experience and allow them to easily manage their financial daily lives within our app. We look forward to working with Tink to create an improved and seamless experience for our users.”

Lydia, established in 2013, allows users to receive, send and manage all of their money. It processes around €250 million transactions per month.

Daniel Kjellén, co-founder and CEO of Tink, added, “We are excited to team up with one of Europe’s leading payment fintechs and become their open banking technology provider. By working together, we will make our open banking technology available to Lydia’s 4 million users. We look forward to supporting Lydia in their expansion in France and across borders.”

Recently, 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 allows Enel X Financial Services to develop digital financial solutions for its clients in Italy and Europe.