Stockholm-based Tink, one of the largest open banking platforms in Europe, has acquired Instantor, a provider of credit decision technology.

Instantor provides income verification, know your customer and related technologies to banks and fintechs across 13 European markets. The company, which had revenue of 13 million euros ($14.9 million) in 2019 and makes about 5 million credit decisions per year, will become part of Tink's business.

"Instantor's market leading products for credit decision solutions based on account aggregation technology will be made available to all our customers on top of the Tink platform's open banking connectivity," Daniel Kjellen, co-founder and CEO of Tink, told Mobile Payments Today via email. "Through the acquisition we will be able to strengthen our offering within credit decision solutions — such as income verification and identification of risk behaviors — to allow for smoother credit application processes and improved assessment of credit risks for our customers."

Instantor's CEO Simon Edstrom will now head up Tink's credit decision solutions business.