Company Database - Klarna Kosma

Klarna Kosma makes game-changing ideas powerfully real.

Launched in 2022, Klarna Kosma is Klarna’s Platform for banks, fintechs, and innovative merchants, which are developing payment services or need access to financial data to create their own solutions benefitting the end-user.

Our proven and mature platform has been operating since 2005, providing essential connectivity to a growing network of more than 15,000 banks in 27 countries through a single Open Banking API. We process more than 1 billion transactions a year and are one of the most extensive Open Banking platforms in the world.

Active since

2005

Head office

Sweden 

Country offices in

Stockholm, Amsterdam, Berlin, Brussels, Gießen, London, Munich, Madrid

Founder(s)

Sebastian Siemiatkowski

Year over year growth rate

Growth for volumes:
22 vs 21: 256%

Number of employees

150

Member of industry association and/or initiatives

Strategic Working Group (SWG) UK, Innovate Finance 

Contact (phone number / email address)

https://www.kosma.com/contact-us/

Core solution

Klarna Kosma is Klarna's financial technology platform for banks, fintechs, and innovative retailers. 

What are the company`s core solutions

Account verification, Business Transactions Management, Multibanking, Risk management, Categorisation, Payments, Bank connectivity, Digital identity

How it works

Open Banking Products, launched with its own branding, Klarna Kosma to focus on B2B partners, in March 2022, provides a unique network of over 15.000 banks, in 27 countries – making it one of the largest financial connectors in the world. Klarna Kosma processes more than 25 million daily transactions, powering parts of Klarna's in-house solutions (e.g. app payments, account insights for underwriting decision making, and personal finance & identity checks) together with many other innovative external use cases. 

What problem does the company solve

Klarna Kosma provides businesses access to financial data through a single API while also initiating account-to-account payments. We have created a unique Customer Portal that provides support and allows PSD2 License holders easy bank onboarding that will significantly reduce the integration time. 

Types of supported APIs\API standard supported

RESTful API (THE Berlin Group)

Industries/target markets

Banking, lending, and payments industry in DACH, UK, Nordics, US; For more specific fields, contact us and we will provide more detailed information.

Geographical coverage (operational area)

Europe; UK; US

Number of connected banks

15,000 banks in 27 countries 

Account coverage (%) across countries/regions

We’ve got you covered with bank connections in 27 countries around the world giving you access to at least 95% of bank accounts.

Technology

Software language

Java

Software developement tools

More information upon request

When was the core technology developed

Connectivity started in 2005 and Open Banking API in 2018.

Business model

Pricing model

Klarna Kosma is transaction based for PIS, user-based for AIS based, and it depends on the type of setup (Branded vs White Label). We have free trial and pilot periods. For more specific info, please contact us.

Future developments

Kosma Ident: Digital Identity & Verification. Value-adding services around consumer data and their Digital Identity: a single API for the customer that gives access to banks ('classic' Open Banking) as well as to Identity Schemes, Trust Services Providers, credit bureaus, and other digital services providers giving a customer maximum flexibility to embed and/or use any payment/account information/digital identity or identity attribute verification products and services for their particular use case. 

Customers / Case studies

Key customers

Klarna, Airbank, iBanFirst, Krea, kameo, Moss, FINOM

Case studies

https://www.kosma.com/case-studies/