SDK.finance partners with Salt Edge to enable Open Banking services in EU market
Lithuanian fintech platform SDK.finance has made a significant move in the financial industry by partnering with Open Banking solution provider Salt Edge. This collaboration aims to empower financial institutions and fintechs within the EU market to develop or update Open Banking-enabled services and applications.
SDK.finance’s pre-built ledger-based solution serves as a solid foundation for various fintech products, including digital wallets, payment apps, neobanks, and money transfer systems. By integrating Salt Edge’s ‘Partner API’, SDK.finance’s customers can easily access bank account information even without an account information service provider (AISP) license.
One of the key benefits of this partnership is the ability for customers developing digital wallets or neobank products to offer cost-efficient payment initiation services, such as account top-ups, without the need to individually connect with each bank. This streamlined process will ultimately enhance the overall user experience and drive financial inclusion and innovation within the industry.
Alex Malyshev, CEO and co-founder of SDK.finance, highlighted the importance of this collaboration in enabling businesses to build cutting-edge financial products while bypassing the backend development challenges. By leveraging Salt Edge’s expertise and network, SDK.finance is unlocking access to Open Banking for its customers, meeting the growing demand for this feature in the market.
Rusu Maria, business development manager at Salt Edge, emphasized the partnership’s role in helping businesses of all sizes enhance their products with robust Open Banking solutions to stay competitive in today’s dynamic economy. Salt Edge’s recent launch of version six of its Open Banking Gateway API further underscores its commitment to driving innovation in the industry.
Overall, the integration of Salt Edge’s APIs into SDK.finance’s platform signifies a significant step towards encouraging businesses to develop financial services and products for underserved populations, ultimately promoting financial inclusion and driving industry innovation.
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