Founded in 2012, bunq is one of the largest neobanks in Europe. By having its users at the heart of the business and building a product rooted in their wants and needs, bunq quickly scaled to become the second largest neobank in the region.
To make it even easier for its 12,5 million European users to manage their money across multiple bank accounts, bunq has partnered with Mastercard Open Banking. Now, millions of bunq users can save, budget, spend and invest in a frictionless and intuitive way.
Let’s see how it works.
Meet Finn, bunq’s AI money assistant
With the Mastercard Open Banking Solution, a bunq user can link other bank accounts into the bunq app, which gives full transparency on all banking transactions in one place. The open banking features work with bunq‘s AI money assistant, Finn – a generative AI-driven platform that gives users answers to questions about their financial habits.
With this technology, Finn offers a simple way to navigate personal finances and get valuable insights across various banks by asking him questions about spendings habits: How much did I spend last week on coffee in the café near London Eye? How many times did I go to a restaurant in April? Finn will look across all your accounts in different banks and provide you with a fast, accurate answer.
Commenting on the new partnership, Bart Willaert, EVP, International Open Banking, Mastercard, says:
“We’re pleased to support a leading fintech like bunq, as they’re a great example of how businesses can use open banking data for a wide range of benefits, such as delivering an excellent user experience. This collaboration showcases our strong platform and reach across Europe and the opportunities for scaling through our global open banking network.”
Commenting on that, Bianca Zwart, Chief of Staff to the CEO of bunq, says:
“Our users live life without borders, effortlessly blending home, work, and travel. We’ve built the bunq app around their lifestyle, and this partnership takes it even further. By combining Mastercard Open Banking with bunq’s world-leading AI platform, the possibilities to enhance their experience are endless.”
The partnership between Mastercard and bunq provides new open banking capabilities in The Netherlands, France, and Germany in the first roll-out phase, with plans to scale further across Europe as a next step in the near future.
Follow our global Mastercard Open Banking LinkedIn page for more updates.
