Mastercard Open Banking integrates with bunq

Users of European neobank bunq will be able to get an overview of their spending insights from across all their bank accounts, following a collaboration with Mastercard Open Banking.

The integration of Mastercard’s Open Banking platform means the neobank’s users can add accounts from any bank to their bunq app, helping them to budget more effectively.

In addition, bunq’s AI money assistant ‘Finn’ will “enrich” these insights with transaction data from multiple banks.

As an example, users could ask Finn for a complete overview of their travel expenses in the past year, and it will retrieve travel-related transactions from both bunq and any external bank.

Open Banking features for bunq users are now available in the Netherlands, France, and Germany initially, with bunq confirming it will roll out these features across Europe.

“Our users live life without borders, effortlessly blending home, work, and travel,” said Bianca Zwart, chief of staff at bunq.

“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.”

Bart Willaert, executive vice president, international Open Banking at Mastercard, added: “We’re pleased to support a leading neobank like bunq, as they show a great example of how multiple benefits of Open Banking and AI can deliver an excellent user experience.

“This collaboration showcases our strong platform and reach across Europe and the opportunities for scaling on our global Open Banking network.”

Bunq launched its generative AI-driven platform ‘Finn’ at the end of last year, giving users answers to “advanced” questions about their finances and transactions.