Comertbank, a key player in Moldova’s transforming financial landscape, joins forces with Salt Edge, a leading developer of open banking solutions, to become compliant with local PSD2 regulations.
„Following Europe’s lead, the Republic of Moldova is making significant progress towards fostering an inclusive, transparent financial environment by adopting open banking regulations. Such regulatory and technological advancements drive the country one step closer to developing a strong digital financial ecosystem, built on competitiveness, accessibility, and innovation.” – according to the press release.
At the forefront of these efforts is The National Bank of Moldova (NBM), which has successfully integrated the European PSD2 directive into Moldova’s legal framework. The local regulatory authority is working on supervising that financial institutions fall under the scope of open banking requirements while ensuring to achieve the right balance between nurturing innovation and protecting customer interests.
„It is leading to more and more financial institutions from Moldova being keen to recognise the importance of prudent regulation and implementing robust digital services. As a market leader in open banking solutions, Salt Edge is committed to guiding these financial institutions towards meeting full PSD2 compliance in the shortest time.” – the company said.
For over 30 years, Comertbank has been a pillar of trust and financial support for both individuals and entrepreneurs who are developing their businesses. On a mission to help its customers improve and maximise the spectrum of online services provided, Comertbank has sought a solution compliant with the European PSD2 directive. In this way, by partnering with Salt Edge, the institution will be able to offer current and potential customers a new experience in interacting with banking products and services.
Elena Cusnir – Deputy Chairwoman of the Managing Board at Comertbank: „We are committed to providing our customers with an innovative and value-added banking experience, integrating digital solutions to continuously increase customer satisfaction. The bank pays close attention to financial security and stability, providing customers with the newest and most innovative banking products to meet their expectations. Where there is a need, there is a product, and shifting from traditional banking to open banking meets this need and will align the payment services market with EU standards.„
Salt Edge’s full-stack Open Banking Compliance Solution will allow Comertbank to meet the local PSD2 requirements and provide customers with a value-added open banking experience with full access and a detailed dashboard of financial transactions through regulated applications of their choice.
Dan Martalog – Senior Open Banking Solutions Expert at Salt Edge: „We’re honoured that Comertbank has chosen Salt Edge to navigate the complex technical and regulatory landscape of PSD2, solidifying its commitment to innovation in Moldova’s financial sector. With our Open Banking Compliance Solution, Comertbank is taking a significant step in being one of the frontrunners to comply with open banking regulations while empowering its customers with advanced fintech solutions and greater control over their finances.„
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
