SDK.finance, a white-label Lithuanian fintech platform for digital payments, has partnered with Salt Edge, the open banking solution provider, aiming to help fintechs of all sizes develop open banking-enabled financial services and applications.
By leveraging Salt Edge’s Partner API, SDK.finance will enable customers without an Account Information Service Provider (AISP) licence to access bank account information easily, removing various regulatory complexities and hurdles.
SDK.finance customers developing digital wallets or neobank products will also be able to easily provide cost-efficient payment initiation services, including account top-ups, without needing to connect with each bank individually.
“At SDK.finance, we empower businesses to build the next generation of financial products, bypassing the backend development grind,” said Alex Malyshev, CEO and co-founder at SDK.finance. “By integrating Salt Edge’s extensive network and expertise, we’re unlocking access to open banking for our customers, a feature that’s become a literal hot topic in their requests. This will allow our customers to offer their end users a rich and convenient open banking experience, ultimately accelerating financial inclusion and innovation within the industry.”
SDK.finance has been on a mission to support businesses to build innovative financial products since 2013, and offers a pre-built ledger-based solution serving as a foundation for various fintech products, including digital wallets, neobanks, payment apps, crypto-to-fiat solutions, and money transfer systems.
Increasing access to open banking
SDK.finance will use Salt Edge’s Partner programme for account information and payment initiation services to revolutionise the fintech sector by offering cost-effective and streamlined solutions to the EU market.
The platform also hopes to enhance financial inclusion in unbanked countries, encouraging businesses to build innovative products that reach underserved populations globally. By providing a foundation for accessible financial services in unbanked countries, SDK.finance can also be a valuable tool in improving the lives of people and communities within these regions.
Rusu Maria, business development manager at Salt Edge, said: “At Salt Edge, our mission is to enable fintechs and other businesses to integrate digital financial services into their offerings with minimum efforts from their side and in compliance with the latest open banking regulatory requirements. The partnership with SDK.finance allows us to assist all-sized businesses in enhancing their products with robust open banking solutions, ensuring they remain competitive in today’s dynamic economy.”
By integrating with Salt Edge’s APIs, SDK.finance is also able to provide Account Information and Payment Initiation features directly within its platform, minimising the development burden for its customers interested in open banking functionalities.
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