BNP Paribas and Tink join forces to launch new multi-banking tool

The announcement comes nearly a year after Tink and BNP Paribas entered into a strategic partnership.

Banca Nazionale del Lavoro (BNL), the Italian banking arm of BNP Paribas, and open banking platform Tink are officially launching their first joint product since the former made a strategic investment in the latter.

Tink and BNL teamed up to add a new multi-banking feature to the Italian bank’s mobile banking app, which will allow customers to get a full picture of their finances all in one place. 

Daniel Kjellén, co-founder and CEO of Tink, said: “This first important step in our partnership gives BNL’s 2.5m customers a better understanding of their finances with just one app.”

“We look forward to continuing to work with BNL, as part of our strategic partnership with BNP Paribas, to help it create more services powered by open banking technology.”

As of yesterday, customers of BNL can add account information from other banks to their BNL app, with BNL adding Tink’s money management features at a later date. 

Marco Tarantola, BNL deputy general manager and head of commercial banking division, said: “We are one of the first banks in Italy to offer multi banking to its customers, helping them to better manage their money by having an overview of their finances held with different banks, all in one place.” 

“This is the first step in our collaboration with Tink, which will enable us to continue developing our open banking strategy – driving innovation for the bank and adding real value for our customers.”

Tink and BNL first entered into a strategic partnership just shy of a year ago at the end of January 2020 after Opera Tech Ventures, BNP Paribas’ venture capital arm, took part in Tink’s €90m fundraise.