Ahead of the launch of Klarna Kosma, a new Open Banking brand, Wilko Klaassen, the company’s VP Business Development, reveals in a The Paypers interview how Klarna’s disruptive DNA can help partners shake up the Open Banking market with new data applications.
„OB has had the biggest impact on payments, creating step changes in multi-banking, cross border payments, faster onboarding, and more intuitive financial status reporting. But in truth, much of Open Banking’s true value is yet to be realised,” says Wilko Klaassen.
„There’s a real opportunity to reach beyond banking, allowing all sorts of dynamic businesses to bring new products to market based on the customer insight embedded in financial data. One of the most exciting prospects is providing actionable information about sustainable financing and financial health.
Having a comprehensive understanding of the consumer from Open Banking’s feed of real-time data, allows us to show them where they stand, whether they can afford a purchase or not, and what practical steps they can take to improve their situation. It’s much more than how much they’re spending and where. It’s telling them what would happen if they changed habits, preferences, or sources. That’s a hugely compelling value creator for the consumer,” he added.
Klarna’s Open Banking technology is now represented by the new Klarna Kosma brand and has been developed at scale across markets for more than 15 years. „It’s among the most established and proven in the world and delivers one of the best PIS conversion rates available,” according to Klaassen.
„We operate the largest OB network reaching 16 countries and 99% of banks. We’re also one of our own biggest customers. Our tech powers Klarna’s BNPL products – using our bank, app, and underwriting. This makes us the only payment provider that has a proven ‘extreme-proof’ solution in terms of connection levels, volume, and scale of customers.”
More details and updates about Klarna’s Open Banking offering here
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:
