Flinks has the expertise in providing software that enables consumers to implement bank account connectivity, financial insights and credit risk intelligence. By doing so, consumers are able to obtain clear, real-time insight into the financial profiles of their customers.
On the other side, Koho describes itself as being a “Canadian tech company that’s here to shake up the finance industry by offering intuitive and transparent financial tools”.
The Koho-Flinks team delivers a tool, called What the Fee, that connects to a user’s bank account(s) and scans the activity to identify all fees that a user pays. While this does not seem like a groundbreaking idea, providing users with greater transparency into their finances is extremely beneficial for all Canadian. In fact, Canadians pay one of the highest amounts in bank fees, ranging from $159-200 annually.
Obviously the tool will not eliminate the bank fees a user is incurring, but with the added transparency and the information being presented in a visually appealing and easily digestible format, users can make financial decisions that better suit their needs, and perhaps even make adjustments to their financial plans that may have been created years ago.