Sync. teams up with Nordigen to broaden its in-app budgeting tools

Digital banking app sync. has joined forces with Riga-based analytics platform Nordigen to bolster its in-app budgeting tools.

Under the new partnership, sync’s customers will be able to sort their spending into more than 250 different categories, helping them to track their spending better. 

sync.’s customers will also see financial data about other accounts connected to their app through open banking, with the fintech having added a specific category for data collected through open banking. 

Ricky Lee, CEO and co-founder of sync., said: “We knew that we wanted to stand out with our budgeting features and have worked with Nordigen for months to create the most varied categorisation tool in Europe.” 

“With 250+ categories, we hope our budgeting insights can genuinely help our customers and give them the best overview of their spending possible.”

From today, sync’s customers will have access to 32 main categories and 220 sub-categories for tracking their spending, enabling them to see a broader picture of their finances. 

Rolands Mesters, CEO and co-founder of Nordigen, added: “sync. is leveraging the open banking infrastructure to build a new unified banking experience.”

“sync. embodies everything we love about open banking and we're excited to support them as they scale across Europe.”

Through the partnership, sync. hopes to add more advanced budgeting features over the next few months, which will only help support its customers’ financial wellbeing. 

The news of sync.’s latest partnership comes no more than a week after the fintech revealed that it had picked Railsbank to help power its app.

Banking-as-a-service (BaaS) provider Railsbank, which recently agreed to purchase the technology and assets of Wirecard Card Solution, will provide sync. with the digital infrastructure needed to power its app, which helps customers budget, manage and track their money in one place. 

Sync. has also continued on its European expansion plans in 2021, launching in Lithuania and Germany earlier on this month with the help of another fintech, TrueLayer.

Through TrueLayer,sync. has already launched in several European countries, including France, Ireland and Spain, with the fintech also laying the groundwork in the Middle East after joining the first-ever Qatar Fintech Accelerator programme in October.

At the beginning of September 2020, just a month shy of its funding announcement, sync. received its e-money and open banking licences from the Financial Conduct Authority.