How SDC is powering multi-banking across the Nordics

2 min read|Published May 15, 2019
How SDC is powering multi-banking across the Nordics

SDC and Tink have joined forces to give 120 Nordic banks access to account aggregation and payment initiation services, allowing its banks to make money management smarter and easier for 2.5 million customers.

Multi-banking services – the ability to view all accounts in one interface – are about to go live in a big way across the Nordics. And for good reason. Around 75% of people in Norway and 25% in the rest of the Nordics have accounts with more than one bank. For these customers, managing their finances can feel messier and more time consuming than it should.

So Nordic service provider SDC is partnering with Tink to help banks deliver a better digital experience, using our account aggregation and payment initiation technology.

In practice, it means that SDC’s 120 member banks can be among the first in Sweden, Norway, Denmark and the Faroe Islands to seamlessly integrate account information from more than 220 Nordic banks into their mobile apps. It gives customers a complete overview of their finances – all in one place.

That’s phase one, set for launch in August 2019. In phase two, aggregation will also be rolled out to banks in Finland, and our payment initiation technology will go live across the board.

Game-changing tech

Adding payment initiation to account aggregation is a game changer for the types of services banks can offer customers. Because once you can gather account information from different banks and make payments from any of those accounts in one app, any recommendations or advice a bank gives to their customers becomes instantly actionable.

Empowering banks

SDC has been around for more than 50 years, with the aim of giving individual banks lower costs through shared economies of scale. Using our tech to develop a new self-service platform will help banks with the mounting pressure to innovate, as PSD2 comes into force, and will help banks empower their customers to make smarter decisions about their finances.

More in Tink news

Deutsche Bahn and Tink logo
2024-03-06 · 3 min read
Deutsche Bahn and Tink partner for direct debit setups

Deutsche Bahn has teamed up with Tink for Account Check - enabling instant, easy and secure account onboarding. DB Connect, part of the Deutsche Bahn Group, runs some of Germany’s largest modern mobility sharing services including ‘Flinkster’, Germany’s largest car sharing network and ‘Call a Bike’, one of the biggest bike sharing systems in the country. 

Tink news
Jack Spiers, Tink UK&I Banking & Lending Director
2024-02-27 · 4 min read
Meet Jack Spiers – Tink’s new UK&I Banking & Lending Director

We spoke to Jack about working with some of the largest financial institutions in the world, optimising our banking relationships together with Visa, and what excites him about the future in our industry.

Tink news
Tink Product Solutions Director, Livia Kathi
2023-12-04 · 5 min read
Livia Kathi – how to accelerate adoption of Pay by Bank

Livia Kathi, Tink’s Product Solutions Director, is spearheading our Pay by Bank drive in the challenging realm of ecommerce. Learn more about the crucial factors of user experience, building trust, and incentives.

Tink news

Get started with Tink

Contact our team to learn more about what we can help you build – or create an account to get started right away.