Canadian digital banking platform EQ Bank has partnered with Flinks to offer open banking services to its customers. 

As part of the collaboration, EQ Bank will integrate Flinks Outbound, an open banking environment, to deliver open banking capabilities, launch new API data sharing methods and enhance data management capabilities. 

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The open banking capabilities will allow EQ Bank customers to share their financial data with third-party fintech apps to access a range of financial services. 

Equitable Bank vice president of digital banking and customer experience Cathy Ly said: “Many of our customers have been asking for more seamless ways to share data with their other financial apps and we are excited to be able to act on their feedback through this partnership with Flinks.

“Just as important, however, are those customers who have not asked about data sharing because they are unaware of the benefits that can come from it. We are looking forward to reinventing how customers engage with EQ Bank and their financial data through open banking.” 

Flinks chief operating officer Frederick Lavoie said: “Fintech adoption is here to stay and the winning banks are the ones who can focus on ways to create value for their mutual customers and embrace it. We are thrilled to see Equitable leading the way in taking action to make open banking happen,” said 

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Challenger lender Equitable Bank launched the digital banking platform EQ Bank in 2016. 

Earlier this week, Equitable Bank formed a three-year cloud partnership with Microsoft Azure.

In February this year, Equitable brokered a deal to acquire local rival Concentra Bank for C$470m.