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Visa Acquires Open Banking Platform Tink – $V $DIA

By John F. Heerdink, Jr.

Reportedly, Visa  (V) has completed the acquisition of Tink, an open banking platform that enables financial institutions, fintech, and merchants to build financial products and services and move money. Through a single API, Tink offers its customers to move money, access aggregated financial data, and use smart financial services. Tink is integrated with more than 3,400 banks and financial institutions, reaching millions of bank customers across Europe.

The transaction is expected to enable clients to deliver substantial benefits for consumers to better control their financial experiences, including managing their money, financial data, and financial goals. Tink CEO and Co-founder Daniel Kjellén and the existing management team will continue to lead the organization.

Jack Forestell, Chief Product Officer of Visa stated, “Openness and innovation are the two vital elements necessary to fuel the growth of future digital financial services. The combination of Visa’s proven infrastructure and sustained investment in resilience, cybersecurity, and fraud prevention with Tink’s APIs, technology, and customer relationships will help accelerate the adoption of open banking around the world by providing a secure, reliable platform for innovation.”

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Its mission is to connect the world through the most innovative, reliable, and secure payment network – enabling individuals, businesses, and economies to thrive.  Their advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying its brand, products, people, network, and scale to reshape the future of commerce. To learn more about Visa (V) and to track its ongoing progress please visit the Vista Partners Visa (V) Coverage Page.)

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: Visa Completes Acquisition of Tink in Business Wire)


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