24 Oct 2017 13:42

SEB buys more Tink shares as new shareholders enter

SEB is expanding its ownership in fin-tech company Tink as that company is opening up for technological cooperation with additional partners. “Our own cooperation with Tink has developed very well and now we see a possibility to continue being a force in shaping the future banking market,” says Christoffer Malmer, co-head of SEB’s Corporate & Private Customers division.

SEB began its cooperation with Tink back in May 2016 by signing a licensing agreement to use Tink’s categorisation engine in SEB’s own mobile app for private individuals. SEB also bought shares in the company.

Tink is now broadening its shareholder base, while SEB is investing additional funds to remain the largest strategic investor along with the company’s founders and some non-strategic investors.

Stockholm-based banks Nordea and Nordnet are two of the new shareholders in Tink. Additionally, Tink has signed a licensing agreement with Klarna, a Swedish payment services provider to use its categorisation engine.

Christoffer Malmer is positive about the developments.

“We believe it is best for our current and future customers that we help shape the future together with companies like Tink. Broad cooperation and new ways of working will be success factors.”

“Therefore we are pleased to see that more players are now choosing Tink as a supplier for their mobile services. That makes it possible for Tink to develop as a company, and it helps our own ambition to offer the best digital services.”

SEB is using Tink’s technology to visualise for customers how their expenses are distributed in different categories. Since a while back, Tink is also offering its customers mortgage loans from SEB.