Tink and Tribe team up for open banking payments

By Megha Bhattacharya

Tribe Payments has teamed up with open banking provider Tink in a bid to enable the former to combine its issuer and acquirer services, with Tink’s open banking payments. This will also enable Tribe’s customers to access both traditional and more innovative payment solutions.

“There are 3 million consumers and businesses in the UK already using open banking enabled products and services in their everyday lives,” said Alex Reddish, Chief Commercial Officer at Tribe.

“We’re keen to help our clients capitalise on this opportunity to build even more compelling propositions in this space, strongly believing that open banking will play a huge part in enabling the frictionless and, eventually, invisible payment experiences of the future. Tribe was the first issuer processor to have launched initial compliance APIs for fintechs to harness the power of Open Banking without developing their own APIs, and we’re keen to continue investing in further Open Banking functionality. That’s why we’re excited about our partnership with Tink; we can now offer easy access to broader opportunities through a market-leading partner.”

Recently, Temenos announced that European open banking platform provider Tink has joined the former’s MarketPlace. The new development is expected to enable Temenos’ customers to access Tink’s technology through Infinity digital front-office platform. The collaboration will also enhance banks’ ability to gain insights and offer multi-banking services for their clients.

Tink’s addition will enable Temenos‘ users to leverage open banking and personal finance management solutions for supporting their banking customers with a detailed view of accounts, transactions and data-driven financial services.