European Open Banking platform Tink has expanded its partnership with Irish postal services provider An Post, 16 months after the initial partnership was announced.
The expansion means that An Post’s free ‘Money Manager’ “smart” budgeting tool is now available to everyone in Ireland, widening access to the service beyond solely customers of An Post Money.
The ‘Money Manager’ tool uses Tink’s Open Banking technology to securely link people’s current accounts and credit cards from all major banks in one place.
Users of the tool receive spending and budget alerts when they are approaching their personally-set limits, and also gain insights into “unusual transaction patterns”.
Additionally, the tool enables them to categorise spending into different categories.
Tasha Chouhan, UK and IE banking director at Tink, said: “In the current economic climate, people are understandably on the lookout for tools to help them understand and track their spending.
“The expansion of our partnership with An Post means that anyone with a bank account in Ireland can now use their Open Banking-powered Money Manager app to access real-time insights into their financial circumstances.”
She added that this will add “considerable value” to customers, given the demands on their day-to-day finances, allowing them to “make informed financial decisions”.
Bruce Richardson, senior manager change at An Post, said its own research found that people in Ireland feel a lack of financial control, “as they try to keep afloat during challenging times”, with 87% of over 18s expressing their financial concerns for the year ahead.
“We are proud to expand our existing partnership with Tink – allowing anyone with a bank account in Ireland to use our engaging Money Manager tools,” he added.
“This enables us to provide people with a real-time view of their financial situation, with features which will help users to improve their financial situation.”