Berlin, 8 September 2021: Personal Finance Management (PFM) app Placons has launched in Germany in an open banking technology partnership with Tink. Backed by the Degussa Bank Group, Placons uses open banking technology to help its users better manage their money, by understanding their financial behaviour and helping to improve it.
By integrating Tink’s account aggregation technology into the app, Placons enables users to add all their bank accounts and view their transactions in one place, so they get a complete picture of their finances. Then through Tink-powered PFM technology, Placons analyses the user’s financial behaviour and uses actionable insights to help people set meaningful goals and budgets – helping them to see where they are spending too much or can make savings. The app also compares alternative services, information and products that might better suit the user’s needs, and lets them switch in a few clicks. And also offers information on how users can make their finances more sustainable.
Placons is already live in Germany, with plans to expand the app across Europe through the Tink platform.
Stefan Zoerner, Managing Director at Placons, said: “Our vision is to create an app that not only gives people a better understanding of their finances but also helps them live more sustainably. As well as giving people greater insight, new features to help users further improve their financial behaviour in a sustainable way will be added in the coming weeks and months. When searching for the right technology partner, it was essential that we could grow with them over time. With Tink, there are many product features that we can use straight out-of-the-box, with the ability to scale across new European markets at speed.”
Cyrosch Kalateh, Regional Director for the DACH region at Tink added: “Our partnership with Placons is a big step forward for Tink’s PFM offering in Germany, with our actionable insights product powering the heart of the Placons app, to help people understand their finances and make better financial decisions all in one place. We look forward to continuing to develop the capabilities of the app, and help Placons expand to new markets over the coming months and years.”
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placons aims to "simplify the lives of its users in everyday life by providing of smart services - beyond banking“. Thereby placons vision enables transparency and educational information helping people live sustainably in everyday life. The agile start-up uses modern technologies to combine smart banking and innovative lifestyle services with the help of an intuitive app. The placons services will initially cover the topics of finance (transaction overviews, analyses, overviews as well as recommendations for action), savings targets as well as lifestyle & shopping (partner offers & contract changes) and sustainability. placons was founded in Frankfurt am Main in mid-2020.
Tink is Europe’s leading open banking platform that enables banks, fintechs and startups to develop data-driven financial services. Through one API, Tink allows customers to access aggregated financial data, initiate payments, enrich transactions, verify account ownership and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe. Founded in 2012 in Stockholm, Tink’s 400 employees serve more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries. We power the new world of finance. For more information, visit tink.com.