Lithuanian financial technology platform SDK.finance has teamed up with Canadian open banking solution provider Salt Edge to help customers deliver advanced Open Banking experiences to their users.
SDK.finance provides white-label digital banking and payment solutions for financial institutions and fintech companies.
Under the alliance, the Lithuanian company will use Salt Edge’s vast network and expertise to provide fintechs access to open banking functionalities, without needing complex integrations.
The partnership allows its customers to incorporate advanced financial services, including connection to over 5000 banks, domestic and international transfers, and PSD2 Compliance.
SDK.finance, in its statement, said: “Our partnership with Salt Edge is more than just an integration; it’s a game-changer for our customers. It powers our commitment to bring financial services to underserved populations globally.
“By lowering barriers to entry, we’re enabling more businesses to create innovative financial products that can reach unbanked and underbanked communities.”
The partnership allows SDK.finance customers to use Salt Edge’s network of bank connections to access bank account information, along with viewing and payment initiation functionalities.
It enables customers to build digital wallets or neobank products that can provide money transfers to their users using the open banking functionality.
Salt Edge will simplify international transfers through both SWIFT and SEPA protocols, preventing the need for complex, individual bank integrations.
Its partner API will allow even a customer company without a PSD2 Account Information Service Provider (AISP) license to access the bank account information.
The partnership will make it easy for customers to use Open Banking functionalities without navigating complex regulations, said the Lithuanian financial technology firm.
In October last year, omnichannel payment solutions provider SeaPay partnered with Salt Edge to advance digital technology and open banking in Saudi Arabia.
The collaboration provides local merchants in Saudi Arabia with open banking solutions.
