Salt Edge

According to Salt Edge Inc., their suite of open banking solutions aims to enable businesses of all sizes, from startups to large enterprises, to access and utilize financial data from thousands of banks globally. The suite includes Account Information, Payment Initiation, Data Enrichment, PSD2 Compliance Solution, Mobile SCA, and TPP Verification. Financial institutions, fintech companies, accounting and financial services providers, payment service providers, and e-commerce platforms are among the professions and industries that Salt Edge's solutions target.

Key Features

Open Banking Gateway: According to the vendor, businesses can access thousands of banks globally through a single API, simplifying the process of connecting to multiple banks and accessing financial data.

Account Information: The vendor states that businesses can retrieve real-time financial data from end-users' bank accounts, including account balances, transaction history, and detailed transaction information, supporting various account types.

Payment Initiation: According to the vendor, businesses can enable end-users to initiate payments directly from their bank accounts, offering a lower-cost payment method and supporting instant payments and transfers within the European Union.

Data Enrichment: The vendor claims that businesses can transform raw financial data into actionable insights by categorizing transactions, providing meaningful data for analysis, identifying merchants, and generating financial reports and insights.

PSD2 Compliance Solution: The vendor states that their solution helps banks and EMIs achieve PSD2 compliance with comprehensive APIs for Account Information Services (AIS) and Payment Initiation Services (PIS), a TPP dedicated environment, and assistance with fallback exemption application.

Mobile SCA: According to the vendor, businesses can enhance the security of online payments and meet PSD2's strong customer authentication (SCA) requirements with a user-friendly and secure authentication process.

TPP Verification: The vendor claims that their solution verifies the regulatory status of Third-Party Providers (TPPs) to ensure only authorized and trusted TPPs access customer data, with a comprehensive dashboard to monitor and manage TPP verifications.