— 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 (https://www.thetrask.com/en/key-topic/trask-data-in-open-banking-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 openbanking 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. See more about open-banking-powered Trask’s Digital Loan at https://www.thetrask.com/en/product/trasks-digital-loan-solution-impresto.
With Trask’s technology stack, European financial institutions have already achieved significant benefits including
- Full rollout of data-in capabilities in just 3 months
- Delivery of new digital banking products in as little as 8 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.
About Flinks
Flinks is a leader in financial data connectivity and open banking, empowering financial institutions and fintechs to access, enrich, and utilize financial data to deliver personalized, innovative services to their customers. Trusted by leading organizations across Canada and US, Flinks is at the forefront of driving progress and innovation in the financial services industry. Learn more at flinks.com.
About Trask
With a strong focus on the financial sector, Trask brings the experience and solutions of the European financial industry to North America. Trask is a global IT consultancy and delivery company, serving enterprise financial institutions in 16 countries – including the USA and Canada. Its core competencies include application integration, digital business solution delivery, application modernization, cybersecurity, data, and AI. Visit www.thetrask.com to learn more.
Contact Info:
Name: Lenka Mansour
Email: Send Email
Organization: Trask
Website: https://www.thetrask.com/
Release ID: 89161870
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