Visa completes acquisition of banking platform Tink

Visa Inc. completed its acquisition of Tink, an open banking platform that enables financial institutions, fintechs and merchants to build financial products and services and move money through a single application programming interface.

In the near term, Tink will operate as a stand-alone subsidiary of Visa. Tink CEO and co-founder Daniel Kjellén and the existing management team will continue to lead the organization, according to a press release.