Lithuanian fintech platform SDK.finance has partnered with Open Banking solution provider Salt Edge to enable financial institutions and fintechs to develop or update Open Banking-enabled services and applications within the EU market.
SDK.finance’s pre-built ledger-based solution acts as a foundation for fintech products, such as digital wallets, payment apps, neobanks and money transfer systems.
With Salt Edge’s ‘Partner API’, SDK.finance’s customers without an account information service provider (AISP) licence to access bank account information easily.
Among its customers developing digital wallets or neobank products, the collaboration with Salt Edge will enable them to provide cost-efficient payment initiation services, including account top-ups, without having to connect with each bank individually.
Alex Malyshev, chief executive officer and co-founder of SDK.finance, said that SDK.finance helps businesses to build the next generation of financial products, while “bypassing the backend development grind”.
“By integrating Salt Edge’s extensive network and expertise, we’re unlocking access to Open Banking for our customers, a feature that’s become a literal hot topic in their requests,” Malyshev said.
“This will allow our customers to offer their end users a rich and convenient Open Banking experience, ultimately accelerating financial inclusion and innovation within the industry.”
The integration with Salt Edge’s APIs means SDK.finance can provide account information and payment initiation features directly within its platform.
Through its platform, SDK.finance aims to encourage businesses in countries with unbanked populations to build financial services and products for those who are underserved.
Maria Rusu, business development manager at Salt Edge, added: “The partnership with SDK.finance allows us to assist all-sized businesses in enhancing their products with robust Open Banking solutions, ensuring they remain competitive in today’s dynamic economy.”
Salt Edge recently launched version six of its Open Banking Gateway API, having unveiled the previous version back in 2019.
Salt Edge is event partner of the Open Finance Show, which is one of two new co-located shows at Open Banking Expo UK & Europe 2024. Click here to find out more.
