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Comment by INTPenis | Hacker News Reader

Tink was my favorite budget app with automatic connections to my Swedish bank. Until they decided to just close up shop and leave all their users hanging.

Now I guess they took all that valuable market data users provided by classifying all their purchases and signed a deal with visa.

Or at least that's one negative assumption I can make as a former happy user of the Tink app.

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Last i checked they were building some sort of layer for the EU banking system.

How have they closed shop if they are still active?

The app Tink gave notice to its users and just closed down. The motivation was basically "we're moving on to other things".

This was probably pre-pandemic.

What irks me is that I loved the app but also that we the users of the app basically classified purchases that the app couldn't classify itself. So we trained their database on how to classify bank statements into categories. And then they just close down and take all that data with them.

I guess it was a "free" app? Everything has a cost.

Yep, it was free. We tried to monetize it in a few ways but never managed to make it profitable. Also, we loved the app, too!

Jag hade betalt för den!

Can't say that I blame anyone. If it wasn't profitable there isn't much to do. Perhaps communication could have been better? Don't know.

They closed the consumer app but the company has pivoted.

Can you use GDPR and ask them to delete all your data?

Yes. Tink operates within the EU and is, as such, required to fulfill GDPR.

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