Finlayer, a Romania-based financial management platform for SMEs, has teamed up with Salt Edge to facilitate Open Banking capabilities for small businesses across the region.
Serving as a financial layer in addition to existing banking systems, Finlayer allows small businesses to manage all their operations without changing banks. The company decided to work with Salt Edge due to its secure and compliant Open Banking framework, which acts as a foundation for developing modern financial tools.
Making daily operations more efficient
Through Salt Edge’s technology, Finlayer is set to be able to provide on its core commitment to simplified multi-bank integration without requiring customers to change their established banking relationships. Utilising Salt Edge’s Account Information Services (AIS) will enable Finlayer to connect to nearly every financial institution in Romania. This allows the company to automate reconciliation and aggregation of data from multiple bank accounts and deliver a real-time view of balances, transactions, and cash flow to businesses.
Additionally, with Salt Edge’s Payment Initiation Services (PIS), Finlayer can support businesses in sending invoices, making payments, and receiving funds directly through its app. This will help small businesses in paying suppliers and reconciling transactions more efficiently, going from hours to minutes.
Furthermore, the collaboration between Salt Edge and Finlayer is set to bring access to a unified platform that optimises financial management and accelerates daily operations for SMEs across Romania. Leveraging Salt Edge’s secure Open Banking infrastructure will enable Finlayer to offer customers multi-bank account connectivity, improve payments, invoicing automation, and cash flow management while maintaining funds in trusted financial institutions and embedded with the Romanian e-factura system.
After receiving validation for the solution in Romania, Finlayer intends to expand it across Eastern Europe, equipping businesses across the region with the same unified financial experience. According to Finlayer’s officials, partnering with Salt Edge allowed the company to centre its efforts on the user experience and develop its planned solution. They added that the collaboration supports Finlayer in achieving its objective of optimising financial management for Romanian small businesses.
Just before joining forces with Finlayer, Salt Edge started working with Sola, aiming to improve the latter’s payment capabilities and accelerate the adoption of alternative payment methods across Europe. Similar to Finlayer, Sola integrated Salt Edge’s PIS, receiving access to its network of European banks and allowing a more reliable instant payment experience for merchants operating in diverse markets and a broader reach.
