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.