Flinks partners with Trask to accelerate Open Banking adoption in North America

Flinks, a leading financial data connectivity and Open Banking solution provider, has announced a partnership with Trask Solutions, a prominent European Open Banking player.

Trask now brings its extensive experience with Open Banking and ready-to-use Open Banking solutions to North America.

Trask helps data recipients build data-in infrastructure more efficiently, delivering business solutions that fully leverage Open Banking data. Each data recipient must establish infrastructure to handle the Open Banking data they acquire. This includes connectivity to the aggregator, storage and enrichment of data, consent and token management, testing facilities, and performance management.

Data recipients can use Trask’s Data-In Connector that has been successfully deployed for numerous clients across Europe and that is now fully localized for use in Canada. The solution supports the FDX standard and comes pre-integrated with Flinks.

Trask provides assets, accelerators, and platforms that use Open Banking data for digitizing banking products and services such as: online loans, transaction-based loan adjudication mechanisms, online account opening for retail and commercial clients, mortgage process automation, financial management and advisory, investment dashboards and multi-banking.

With Trask’s technology stack, European financial institutions have already achieved significant benefits, including:

• Full rollout of data-in capabilities in just three months
• Delivery of new digital banking products in as little as eight months
• Loan approval time reduced from days to seconds
• Increased the quality of new-to-bank loans to be on-par with the loans to existing clients
• Processing cost of invoice factoring lowered to almost zero enabled factoring offerings to SMEs
• Doubled conversion rates and increased sales by 30% by offering hyper-personalized offers to both existing and new clients, leveraging Open Banking data sources

Trask’s pre-integration with Flinks provides a powerful accelerator for clients wishing to save money and increase speed to market and the Flinks and Trask teams work seamlessly to support their clients.

Find Trask at Stand 6 at Open Banking Expo Canada on June 17 at the MTCC in Toronto.  Click here to find out more about the agenda, speakers and exhibition floor.

Further reading: Trask will showcase instant Digital Loan powered by Open Banking