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
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/
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.
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.
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.
Key customers
Klarna, Airbank, iBanFirst, Krea, kameo, Moss, FINOM
Case studies
https://www.kosma.com/case-studies/