French Fintech Startup Lydia partners with Tink to enhance open banking options
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Fintech startup Lydia goes to work with monetary API startup Tink for its open banking options in its app. Lydia began as a peer-to-peer fee app and now has 4 million customers in Europe.
Lydia’s vision has evolved to become a financial super app that lets you control your bank accounts and access various financial services. In France, you can connect your Lydia account with your bank account using Budget Insight’s Budgea API.
Tink supplies a single API that manages all of the complexities of the data methods of European banks. An API is a programming interface that lets two totally different companies discuss and work together with one another. Tink does the heavy lifting and interprets every banking API right into a predictable API that you should use for all banks.
In different information, Lydia utilization dropped fairly drastically throughout the full lockdown earlier this 12 months. However, transaction quantity has bounced again since then and reached all-time highs. The corporate processes €250 million in transactions each month and it’s at present including 5,000 new customers day-after-day.
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