<ul><li>Visa has completed the acquisition of Swedish open banking infrastructure provider Tink, following the announcement made by the companies in June last year .

• Tink will remain an independent entity in the near future, with its CEO and Co-Founder Daniel Kjellén continuing to manage the business along with its existing management.

• Through this acquisition, Tink believes it can leverage Visa’s partner network to increase the platform’s connectivity to over 15,000 financial institutions across the globe. 

<ul><li> Analyst QuickTake: The acquisition was announced a few months after Visa called off its planned acquisition of Plaid in January 2021 (announced in January 2020) due to regulatory challenges. Moreover, since the announcement last June, Tink has taken several initiatives to broaden its platform functionality such as launching an income verification tool and improving budgeting and financial insights . It also expanded its management team by hiring Rowan Taylor to fill a newly created post of chief revenue officer (CRO) in July 2021.</ul>