Salt Edge Earns Account Information Service Provider License from FCA

Open banking enabler Salt Edge announced it has received the green light from the U.K.’s Financial Conduct Authority (FCA). Salt Edge’s registration as an Account Information Service Provider (AISP) will allow the company to access financial data in compliance with PSD2 across Europe.

“Receiving an AISP license will help us take better advantage of the Open Banking opportunities on the European landscape as we strive for excellence in everything we do. This process required some serious investment and preparation, but it was worth implementing,” commented Dmitrii Barbasura, Salt Edge CEO.

Salt Edge’s Open Banking API was updated at the beginning of this month to version five. Lenders using the recently updated API will be able to leverage Salt Edge’s AISP license to access consumers’ financial account data (with their consent) to enhance the underwriting process for credit decisioning.

Dmitry Tsap, Head of Infrastructure and Security Department at Salt Edge, said the company underwent “a very strict evaluation process” that assessed the company’s security and data protection measures. “Being approved by the FCA is proof of quality and recognition of our efforts in this direction,” Tsap added.

Salt Edge recently showcased its Open Banking platform at FinovateEurope 2019 in February. Early last month, the Canada-based company teamed up with money management app Emma for account aggregation. Salt Edge was founded in 2013 and connects to 3,100+ banks in 61 countries.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Salt Edge Teams Up with UK-Based PFM App Emma

London-based money management app Emma is the latest company to partner with global data aggregator Salt Edge. The integration will enable Emma users to securely connect their accounts – whether for debit, credit, e-wallet, savings, mortgage, cryptocurrency, or insurance – from banks throughout the U.K.

“We started Emma on a mission to help millions of people improve and fix their finances, once (and) for all,” company CEO Edoardo Moreni said. Emma earned its AISP (account information services provider) approval from the FCA a little over a year ago, and its new relationship with Salt Edge is part of the company’s strategy to “expand to new countries, with them, as partners.”

Praising Emma for its rapid growth and development, Salt Edge CEO Dmitrii Barbasura said his company’s familiarity with the money management space was a significant advantage for the integration.

“Having great experience with PFMs, and being very familiar with the nuances, we believe our solution to be a great fit for Emma,” Barbasura said. “We truly believe that working together towards improving the way people manage their financials will bring fruitful results in our collaboration.”

Headquartered in Toronto, Ontario, Canada, Salt Edge demonstrated its Open Banking Platform at FinovateEurope 2019 earlier this year. With more than 3,100 connected banks representing 250,000+ daily active end users, Salt Edge’s technology brings thousands of bank APIs into a single gateway. The company adds value during the payment flow by providing data enrichment, financial categorization, financial health check and payee verification, and other services.

The first global data aggregator to join the Temenos Marketplace, Salt Edge announced a partnership with smart money app Yolt last fall. The company was founded in 2013.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

FinovateEurope Sneak Peek: Salt Edge

A look at the companies demoing live at FinovateEurope on February 12 through 14, 2019 in London, U.K. Register today and save your spot.

Salt Edge is a leading financial API platform that offers a range of PSD2 and Open Banking solutions. By having a global vision and EU focus, it securely connects to 3,100+ banks in over 60 countries.

Features

  • Verification of payee before the confirmation of payment
  • Built-in payment templates for all instant payment schemes
  • Notifications about banks’ PISP/AISP channels availability

Why it’s great
Salt Edge enables your company to experience the full power of Open Banking. With a single integration, you get access to thousands of banks and dozens of unique services.

Presenters

Lisa Terziman-Gutu, Head of Business Development
Terziman-Gutu has five years working experience in the fintech industry developing Open Banking products. She leads Salt Edge’s business expansion around the world.
LinkedIn

 

Andrei Scutari, Senior Sales Manager
Scutari is a fintech and Open Banking industry expert. He has international experience in product management, sales, and corporate business.
LinkedIn

 

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Salt Edge Serves Up Open Banking Payment Infrastructure for Testing

Just weeks after announcing a collaboration with smart money app, Yolt, Salt Edge is back with news of another new partnership. Today, the company reported its Open Banking payment infrastructure is now available for testing by third party providers.

The complete payment process can be simulated by TPPs who log into the Salt Edge system, which facilitates one-time payments, scheduled and future-dated payments, and bulk payments. The Open Banking hub is equipped with all four of PSD2-required authorization types: redirect/OAuth, embedded, decoupled, and app2app. PISP (Payment Initiation Service Provider) licensed-TPPs that elect to go live with the technology can begin the integration immediately.

Lisa Terziman-Gutu (Business Development EMEA) and CEO Dmitrii Barbasura (not pictured) during their live demo at FinovateEurope 2018.

Salt Edge provides financial data aggregation APIs, open banking and PSD2 solutions, as well as white label retail banking, and data enrichment services. The company demonstrated its Priora PSD2 and Open Banking solution at FinovateEurope earlier this year. The technology enables small and medium-sized banks to become fully PSD2 and Open Banking compliant in months. It provides a number of key features such as its Connector API and SCA Authenticator, and Salt Edge handles cumbersome TPP management – including communication, verification, and onboarding – for the bank.

“Our primary goal at Finovate was to demonstrate a complete user journey in the PSD2 and Open Banking world,” Salt Edge CEO Dmitrii Barbasura said. Calling the technology “secure, customer friendly, and reliable,” he added: “We believe that our solution covers all the needs and concerns that banks have in the wake of PSD2’s deadline, and goes beyond them by delivering the possibility of added-value services.”

Headquartered in Toronto, Ontario, Canada, Salt Edge was founded in 2013. The ISO 27001 certified company is connected to more than 3,100 banks in 60+ countries. Salt Edge has processed more than one million transactions, and has raised $3 million in funding as of this spring.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.