First mortgage robo-advisor launches using Tink’s API platform

The world’s first mortgage robo-advisor Bofink becomes one of the first partners to go live with a product built using our aggregation API.

The Swedish start-up launched in 2017, and uses Tink’s account aggregation API to collect their user’s mortgage data and perform an instant health check on that loan. In addition to the independent mortgage rating, the app also makes suggestions on changes they could make to get better terms.

The company uses a unique algorithm that employs AI, optimisation theory and financial mathematics. It was developed in collaboration with researchers and mathematics professors at the Royal Institute of Technology in Stockholm.

We sat down with Joachim Ronneback (CEO) and John Lindahl (CTO) to hear more about the integration with our API platform, and why they chose Tink.

Describe your tech stack.

We have a React Native mobile application, served by a microservice-based NodeJS backend on a Kubernetes infrastructure.

What have you built with Tink’s API?

Our application gives users a health check on their mortgages — with advice on where they can improve aspects of it (like their interest rate). We have integrated Tink’s API into the flow so we can offer up-to-date health checks, and easy on boarding by automatically pre-filling most of the information needed related to the mortgage.

Why did you choose Tink’s API?

In the end, it was an easy decision. We want to give our customers the best possible mortgage and debt advice via our algorithms. But we didn’t see any competitive advantage in continuing to develop and maintain our own APIs for retrieving the banking data. We believe that Tink’s API is the best for collecting that data in Europe.

What’s the best aspect of coding with our API?

That we no longer have to build and maintain integrations with each and every bank.

How long did it take you to go from testing our API to launch?

It took about three months — from the first proof of concept until we got the new on boarding. This also included a lot of other changes to the user experience. The integration with Tink’s API in itself only took a couple of days.