Through a new partnership with fintech company Tink, SEB’s customers will get a better opportunity to gather, analyse and manage their finances. SEB will at the same time invest SEK 36 million in Tink AB, thereby becoming the fifth-largest shareholder.
Tink’s technology is included in the first phase of SEB’s mobile app for private individuals in Sweden, and makes it possible for customers to collect and categorise detailed information about purchases and savings. Within the framework of the partnership, more functions will be developed.
“Through the partnership with Tink, we will be able to develop even better digital offerings for our customers. The combination of our integrated offering and Tink’s functionality is a good example of how established banks and fintech companies can create customer benefits together,” says Christoffer Malmer, Co-head for division Corporate and Private Customers.
“Getting investors with extensive experience, as well as developing partnerships with traditional banks, is obviously a big step for a company like Tink,” says Daniel Kjellén, founder and CEO of Tink.
The new functionality will be launched in autumn 2016.
The investment is subject to SEB receiving ownership assessment approval from the Swedish Financial Supervisory Authority, Finansinspektionen.