UK challenger bank Tandem partners with financial API provider for account aggregation - Business Insider

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UK challenger bank Tandem and European financial API provider TrueLayer have announced a partnership for account aggregation.

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Account aggregation is likely to work well combined with Tandem's emphasis on data-driven features. The challenger bank uses AI to analyze customer data, which enables it to offer clients AI-powered insights into their finances and a more personalized banking experience. Now that it is working with TrueLayer to offer account aggregation, it's possible that Tandem will be able to leverage the data it obtains about its customers' other accounts to get a clearer picture of each individual's finances overall, as opposed to just within their Tandem account. If it can use AI to analyze this wider view, it could provide insights that are even more on-target to each customer who opts to use account aggregation.

While tailored insights alone aren't particularly rare, combining AI analysis with account aggregation could help banks stand out. Among the banks that leverage AI insights in their offerings are Canada's

 

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