Financial service provider Flinks teams up with Trask to hasten the adoption of Open Banking within North America
Trask Expands Operations to North America, Bringing Open Banking Solutions to Canada
Trask Solutions, a leading European Open Banking player, is making its debut in North America. The company will be showcasing its innovative Open Banking solutions at the Open Banking Expo Canada on June 17, at the MTCC in Toronto, located at Stand 6.
Trask's expansion comes with exciting news for North American data recipients, including fintech companies, apps, and service providers. The company's Data-In Connector, pre-integrated with Flinks, offers a powerful accelerator for those wishing to save money and increase speed to market.
The Data-In Connector is designed to benefit North American data recipients in the Open Banking context. It enables secure, standardized, and user-permissioned access to financial data from banks and other institutions. This facilitates safe data sharing, improving personalization and innovation opportunities while maintaining strong data governance and security controls.
The connector aligns with open protocols like the FDX API standard, widely used in US open banking. This support ensures end-to-end encryption, OAuth-based access control, and granular permissions, thereby fostering a competitive and open financial services ecosystem without compromising data exploitation or security risks.
Trask Solutions also offers ready-to-use Open Banking solutions to data recipients. With its technology stack, European financial institutions have fully rolled out data-in capabilities in just three months. New digital banking products can be delivered by Trask in as little as eight months.
One of the standout features of Trask's services is the significant reduction in loan approval time. Using Trask's technology, loan approval time has been reduced from days to seconds. The company's services include 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.
The quality of new-to-bank loans processed by Trask is on-par with the loans to existing clients. Another notable achievement is the lowering of the processing cost of invoice factoring to almost zero by Trask, enabling factoring offerings to SMEs.
Data recipients need to establish infrastructure to handle Open Banking data. This includes connectivity to the aggregator, data storage and enrichment, consent and token management, testing facilities, and performance management. Trask Solutions offers assets, accelerators, and platforms that use Open Banking data for digitizing banking products and services.
Trask's technology has also been credited with doubling conversion rates and increasing sales by 30% by offering hyper-personalized offers to clients, leveraging Open Banking data sources. The Flinks and Trask teams work seamlessly to support their clients. Flinks, a financial data connectivity and Open Banking solution provider, has partnered with Trask Solutions.
Visit Trask at Stand 6 at the Open Banking Expo Canada on June 17 to learn more about how their solutions can transform your business.
- Trask Solutions, debuting in North America, will showcase its Open Banking solutions at the Open Banking Expo Canada on June 17.
- The Data-In Connector, pre-integrated with Flinks, offers a powerful accelerator for North American data recipients, facilitating safe data sharing and fostering innovation.
- Trask Solutions provides ready-to-use Open Banking solutions, enabling financial institutions to fully roll out data-in capabilities in just three months.
- The Flinks and Trask teams collaborate seamlessly to support their clients, offering hyper-personalized offers to clients and boosting conversion rates and sales by 30%.
- Trask Solutions offers assets, accelerators, and platforms that use Open Banking data for digitizing banking products and services, benefiting the finance industry and businesses.
