Italy’s BNL goes live on Tink open banking service
Italian bank Banca Nazionale del Lavoro (BNL) has signed a deal with Tink to launch a new multi-banking service.
The deal is a result of BNP Paribas, parent group of BNL, signing an open banking extension with Tink this time last year.
BNL has implemented Tink’s solutions for account aggregation and payment initiation, with personal finance management to follow.
Tink says the new feature gives BNL’s customers a “360-degree view of their finances in one place”.
“We are one of the first banks in Italy to offer multi banking to its customers,” says Marco Tarantola, BNL head of commercial banking.
He adds that the tech “will enable us to continue developing our open banking strategy”.
A minority investment from Opera Tech Ventures, the venture capital wing of the banking group, supports Tink’s deployment.
The investment is part of a €90 million round Tink completed in January, in which it outlined its intentions to expand across Europe.
Daniel Kjellen, CEO of Tink, says BNL is “one of the most respected and well-known” banks in Italy.
“This first important step in our partnership gives BNL’s 2.5 million customers a better understanding of their finances.”
Tink nabbed an additional €85 million in investment at the end of last year. The open banking firm also made a slew of acquisitions in 2020.