back Back

Younited selects Tink to expand instant credit offering in Europe

By Gloria Methri

April 27, 2023

  • Digital Financial Literacy Program
  • Europe
  • FinTech
Share

Tink, Instant Credit Decisioning, Lending Decisions, FinTech, Europe, France, Open BankingYounited has joined forces with open banking platform Tink to offer instant credit to more consumers and businesses in Europe.

Through Tink’s data aggregation and pan-European connectivity, Younited will receive up-to-date financial data of customers within seconds and process credit applications instantly.

This enables Younited to feed relevant data into its own AI-based algorithms to compute a holistic, accurate, and up-to-date view of applicants’ spending habits and income streams.

Data-driven lending processes simplify affordability assessments, and by using bank account data to get a more rounded view of an applicant’s finances, it also makes sure that better credit is offered to customers. Moreover, the usage of open banking connectivity allows a much simpler experience for the customers, with fewer documents to share and a faster process overall.

Operating in five countries (France, Spain, Portugal, Italy, and Germany), Younited has led new disruptive technologies, such as applying open banking to credit decisioning for consumers, banks, FinTechs, and merchants.

Camille de Mari, Director of France, Banking & Lending at Tink, said, “Having a full and up-to-date picture of someone’s financial situation is crucial when it comes to making an accurate credit risk assessment. With capabilities made possible by open banking, our connectivity across Europe means Younited can instantly access up-to-date transaction data, ensuring that they can give customers access to the financial services they deserve, at speed.”

François de Bodinat, CPO at Younited said, “Anyone seeking credit, whether for a loan or a retail purchase, deserves an ultra-fast and hassle-free experience. Thanks to open banking capabilities and our partnership with Tink, we are now able to deliver this promise of instant credit decisions at scale – a first in Europe. We are already serving more than a million customers, and together with Tink, we will expand our services across Europe.”

Younited and Tink have also expanded their collaboration to offer financial coaching. Using the same open banking data that supports Younited’s lending decision, customers can instantly access Younited Coach, which offers a free, personalised analysis of their financial situation as well as tips and recommendations to help them manage their overall budget effectively.

Previous Article

April 27, 2023

3 FinTech platforms providing personal finance and literacy in Africa

Read More
Next Article

April 27, 2023

TapPay enables merchants in Taiwan to accept contactless payments

Read More








IBSi Daily News Analysis

digital wallets

March 01, 2024

Digital Financial Literacy Program

Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 01, 2024

Saikyo Bank & nCino to boost operational efficiency and customer experience

Read More

March 01, 2024

FinTech Focus: Catch latest developments of the week

Read More

March 01, 2024

The Weekly Wrap: all you need to know by Friday COB | March 1st

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023