In order to perform the financial analysis, ThinkOut needs data.
Because we wanted to make it easier for our users to feed the platform with their numbers, we work with bank connections. Choose it if you want to save time, but bear in mind that this is not a mandatory condition in order to use the platform - data can also be manually added or imported from your files.
Why to use the bank connection from ThinkOut?
By connection your bank accounts to ThinkOut, you save a lot of time as data is automatically imported and refreshed on a daily basis. This gives you more space to focus on what really matters, analysing and planning the future of your business.
Thanks to the new European legislation or Open Banking clients from all European banks can now use services like ThinkOut in order to aggregate their financial data in one place. This help them to view a consolidated overview of their cash position and take informed business decisions on time.
How to connect your bank accounts to ThinkOut?
Go to Accounts and click on Add account -> Bank account. Check the available bank connections from your country and select yours.
To connect your bank account you'll need the same login credentials you are using in order to access the internet banking platform (user name, password, SMS, token, etc).
The data aggregation from your bank accounts is done with the help of our partners Salt Edge, the biggest financial data aggregator from Europe.
How safe it is to connect my bank to ThinkOut?
ThinkOut does not have view access and does not save any of your login credentials. The bank connection is usually done on the bank's server and ThinkOut has a view only access to your transactions. This is crucial in order to perform the real time data analysis.
Currently we work with Salt Edge which aims to help FinTechs (like us) to create bridges between them and over 5000 financial institutions in 60+ countries. Salt Edge is a leading global financial provider that adheres to the highest international standards of privacy and security. The company is ISO/IEC 27001:2013 certified, as well as PCI DSS compliant. Salt Edge performs regular internal and external vulnerability assessments executed by certified security service providers. Read more: https://www.saltedge.com/products/spectre/security.
What banks can I connect to ThinkOut?
This depends on each country. In order to check the available connections for you, go to Accounts, click on Add account -> Bank account and check the list. If your bank is not displayed there, please contact us at firstname.lastname@example.org.