Sopra Banking Software is thrilled to announce that it will be partnering up with European open banking leaders Tink, in an exciting move for the financial services industry. Here, Michel de Bolle, Chief Product Officer, and Bruno Cambounet, Head of Fintech Alliances and Digital Solutions in Product Marketing, discuss what this means for Sopra Banking and its customers.

Why Tink?

It’s no secret that banks’ business models are changing. Since the launch of PSD2, open banking has become an investment priority in the banking sector. Ecosystem engagement, customer journeys, improved end-to-end digital solutions – these are all key for banks looking to provide increasingly compelling customer experiences. At the heart of all of this is data and connectivity. By plugging into a wider ecosystem and sharing data (with end-customer consent), PSD2 and open banking allow banks to drastically improve their customer services.

Sopra Banking Software has been on the cutting edge of this trend, most notably with our Digital Banking Engagement Platform (DBEP), through which we’ve been creating new customer use cases for our clients. Through orchestrating a breadth of functionalities and features, including accounts, savings, lending, payments, channels and compliance, we offer one of the most comprehensive catalogs of open banking solutions.

But the world of banking is evolving, and so are we. It’s now time for us to go a step further and accelerate our development into the open banking space, which is exactly why we’ve decided to partner up with Tink.

Tink is a recognized leader in open banking, providing best-of-breed solutions, covering financial data aggregation, payment initiation, data enrichment and personal finance management capabilities. It has access to the financial data of over 2,500 banks across Europe.

By leveraging Tink’s connectivity and integrating its technology, Sopra Banking will be able to offer our clients a whole set of new digital use cases, including turn-key cloud-native digital banking solutions. By building on our existing technologies, experience and use cases, our bank clients will benefit from a quick time to market with an open solution, providing improved personalized financial services.

What this means for the future of banking in Europe

Make no mistake about it, this partnership signifies a quantum leap forward in European open banking. Sopra Banking Software is one the global leaders in banking software, and Tink is a European leader in open banking.

In Autumn 2020, Sopra Banking will begin launching new, advanced use cases, including Tink-enabled solutions around multi-banking, customer onboarding, “Know Your Customer,” digital lending, enhanced credit scoring, integrated payments and North-South transfers, just to name a few.

This is just the start, though. Digitization, connectivity, customer-centric services and products – these are some of the pillars that will define the future of banking. And by folding Tink’s data and technology into our existing offers and roadmap, we’re sure that we can be at the heart of that future.

What they say…

“Tomorrow’s financial services will be inter-connected, embedded and often invisible. To differentiate, banks will increasingly need to actively connect with external third parties. Combining Sopra Banking’s unique sets of retail banking solutions with Tink’s open banking technologies will allow our clients to develop unique data-enabled customer experiences” – Eric Pasquier, CEO at Sopra Banking Software

“As Europe’s leading open banking platform, we are proud to enter this strategic channel partnership with a global leader in digital banking like Sopra Banking Software. We look forward to working with Sopra Banking Software and supporting their 1,500 clients in 80 countries with our open banking technology” – Daniel Kjellén, co-founder and CEO of Tink

New Tech Open Banking Intermediaries, Q2 2020

“The open finance journey is only just beginning, and decisions taken now can cast a long shadow over the firm’s future”.

You can read Forrester’s full report by clicking here

Michel de Bolle

Chief Product Officer

Sopra Banking Software