Easily staying the course of open banking during these turbulent times for the European financial market, Salt Edge increases its overall number of connected bank APIs to 300+ in the EU.
Back in June 2019, Salt Edge announced the successful integration via open banking APIs with more than 200 banks all over Europe. Only two months later it is a hundred more, as Salt Edge is also connected with open banking APIs of Monzo, Revolut, Erste Group, CMA9, and many others.
„Each API integration requires a lot of hard work, as Salt Edge’s experts check for any bugs and ticks through testing. It means looking for any pain-point in each bank’s interface and its documentation, and providing the feedback to their developers. (…) The goal is to give each bank connection focused and specific functional testing, as each API might differ in documentation, authentication flow, customer journey, and functionality.”, the company said in the press release.
The integration experience with APIsin different countries was full of obstacles, so it is safe to assume that all third-party providers have to jump through hoops trying to connect with European banks. A collaborative attitude and combined efforts from all the market’s participants will be required in order to go through the integration smoother and eventually make open banking work for end-customers.
Salt Edge is further planning to connect with more banks in Europe: Ireland – Bank of Ireland, Ulster, Permanent TSB; France – Crédit Agricole, Crédit Mutuel; the Czech Republic – ČSOB, UniCredit and so on. You can check out here how many APIs are currently integrated.
Salt Edge is a global fintech company registered as Account Information Service Provider by the UK’s FCA, under PSD2. Among its most popular services are financial data aggregation API, open banking and PSD2 solutions, white label retail banking, and data enrichment.
Connected to 3400+ financial institutions in 66 countries, Salt Edge brings comprehensive financial data at the fingertips of hundreds of thousands of end-users on a daily basis.
„Though Libra has met with fierce resistance from central banks and supervisory authorities and might never see the light of day, in many other cases tech firms (both start-ups and established big players) have successfully captured bits and pieces of universal banks’ traditional value chain. This trend may only intensify in the coming years. In this environment, European banks remain squeezed.”