Open banking platform Tink has partnered with subscription technology provider Youtility to equip UK retail banks with innovative embedded solutions for subscription and money management.
By integrating Tink’s Money Manager with Youtility’s subscription tools, users of banking applications can effortlessly set budgeting goals and maximize savings on essential household services such as energy, broadband, television, landline, and mobile. This functionality is made possible through the utilization of real-time transaction data that is categorized for clarity.
This collaboration with Youtility follows Tink’s earlier partnership with carbon tracking application Cogo, which merges sustainability insights with consumer behavior data using Tink’s transaction analytics. This initiative is already being implemented at NatWest, fostering personalized carbon footprint assessments for customers.
Tasha Chouhan, UK & Ireland Banking Lead at Tink, emphasized the importance of this initiative, stating, “The climate crisis and rising living costs will significantly impact consumers in 2022 and beyond. We are developing a network of partnerships, including with Youtility and Cogo, to empower banks in providing essential insights. This support enables individuals to make informed financial decisions while also reducing their environmental impact.”