Company Database - Enable Banking OY

Enabling the future of Open Banking

Website

https://enablebanking.com/

Company description

Enable Banking is the premier neutral connectivity provider. We offer +2500 connections to banks across Europe without ever touching our clients’ data or business model.No data storage and no competing value propositions.

Active since

2019

Head office

Finland

Country offices in

Sweden, Lithuania

Founder(s)

Joonas Tomperi, Fedor Tyurin

Funding rounds and investors

Wellstreet, 70V, ForwardVC

Number of employees

15

Member of industry associations

Swefintech (Sweden), ETPPA (EU), Fintech Farm (Finland) Open Finance Forum (Finland) & Finnish TPP Forum.

Awards 

 We have not yet applied for any awards, but we are highly appraised by our customers on our Youtube channel

Contact

Sarah@enablebanking.com, +46 764 954253, Joonas@enablebanking.com +358401505816

Core solution

The company`s core solutions

We enable companies to build the next generation of services with our Open Banking connectivity and API. One API connects you to more than 2500 regulated PSD2 APIs, accessing accounts and transactions, and the second enables you to initiate payments from more than 1500 banks. 

What problem does the company solve?

Enable Banking simplifies financial data access for businesses, addressing challenges of data accessibility, automation, and security. It offers 1 API for connecting with 2500+ banks via PSD2 Open Banking APIs, ensuring privacy, easing scalability, and reducing manual efforts in value-added financial services.

Major use cases & products

Appreciated by credit-scoring engines like Kreditz.com and Monthio.com. We enable automated invoice reconciliation, seamlessly integrating with accounting/ERPs such as Odoo and Zervant. We specialise in automating processes related to FX, KYC/KYB. Finally, we excel in providing white-labelled payment initiation solutions.

Competitive advantage

Your customers' data is theirs, not ours or anyone else’s. Even though our API connects you to many bank accounts and transactions, we never use or handle any personal data. You can say we are the postman of your data, safely delivering it into the application of choice.

Types of supported APIs\API standard supported

AIS and PIS

Do you have a fallback mechanism for PSD2`s API?

No. (Depending on the bank, we sometimes support fallback APIs if the bank has it)

Geographical coverage

Europe

Connected banks

95% of banks in Europe

What account type do you serve?

Enable Banking serves both personal and business/corporate accounts and the people working there have a long history in the ERP and corporate banking industry. While many early Open Banking providers targeted consumer accounts only, Enable Banking has a balanced distribution, with 50% of its 10 million monthly API calls now originating from both business and consumer accounts.

Account coverage across countries

  • Austria - 80%
  • Belgium - 95%
  • Croatia - 90%
  • Denmark - 95%
  • Estonia - 95%
  • Finland - 98%
  • France - 95%
  • Germany - 95%
  • Greece - 90%
  • Hungary - 90%
  • Iceland - 98%
  • Ireland - 70%
  • Italy - 80%
  • Latvia - 98%
  • Lithuania - 98%
  • Netherlands - 98%
  • Norway - 98%
  • Poland - 85%
  • Portugal - 80%
  • Slovenia - 80%
  • Slovakia - 80%
  • Spain - 90%
  • Sweden - 98%

Do you offer a developer portal? 
What tooling do you provide for developers?
Do you provide sandboxes and a testing environment?"

Certainly! In addition to the developer portal, Enable Banking goes the extra mile by offering a live production environment for testing without requiring a contract. This allows developers to seamlessly evaluate and experience the live functionality of our services, ensuring a robust and practical integration process.

Number of signed-up developers

1200+

Number of total end users

130000+ monthly active users, 365000+ users in the last 90 days

Target market

Target segments/industries

Enable Banking caters to diverse industries seeking direct access to bank data. Our solutions benefit sectors including finance, accounting, ERP systems, credit scoring engines, property management, loyalty applications, and licensed companies involved in FX, KYC/KYB, and white-labeled PISP services.

Current customers

Kreditz, Monthio, CRIF, Odoo, Roaring, Props, eTasku,  

Technology

Type of technology used

Native Cloud, multi-cloud, possibility to deploy in own environment

Software language

Python, Java, JavaScript

Software development tools

GitLab, Google Cloud Platform

When was the core technology developed?

2020

Licencing

Supported licences

AISP, in November 2023 ongoing PISP license application.

Partners

Technology partners

Google Cloud

Distribution channels

Value-adding services by our partners

Business model

Pricing model

Volume-based

Revenue streams

Revenue is coming from the usage of software and is based on our partners' success. We are enabling and helping our partners to expand internationally and get more visibility and customers.

Business strategy resources

We are closely following the changes in relevant European regulations and have discussions with banks on their plans. This is especially important for us as we are a provider that is solely built on APIs. We are actively collaborating with our partners, customers, and investors. Our active investors have been very supportive in our journey to opening doors and sharing knowledge.

Case studies

Case studies – examples

Product roadmap

Planned features PIS coverage across the EEA, support of bulk payments, AI-generated mock data simulating real data provided by ASPSPs


Contact Enable Banking OY

+46 764 954253
https://enablebanking.com/
Sarah@enablebanking.com
Finland