UK-based Suits Me has partnered with tell.money to improve its Open Banking infrastructure and ensure compliance with the EU’s PSD2 requirements.
Suits Me is an alternative banking solution that focuses on financial inclusion. Through this alliance, the company has access to tell.money’s SaaS platform, gaining fast and secure PSD2 compliance services, including the provision of AIS and PIS interfaces, modern TPP management, and continuous regulatory alignment.
Compliance and growth
The PSD2 regulation requires that ASPSPs, including EMIs such as Suits Me, must provide secure and functional access to authorised third-party providers. tell.money’s platform was built to meet these mandates, delivering a fully managed solution that handles API deployment, monitoring, fallback mechanisms, and TPP registration backed by a compliance framework.
The partnership is key to Suits Me’s journey to offer simple Open Banking functionality while accelerating its mission to offer inclusive and compliant financial solutions. The company’s goal is to make banking more accessible, and joining forces with tell.money enables it to remain fully compliant with ever-changing regulatory requirements while making sure its system remains accessible and secure for its expanding customer base.
tell.money’s expertise in PSD2 is key to expanding Open Banking capabilities and offering financial services that prioritise accessibility and inclusion. Its features enable forward-thinking fintechs like Suits Me to focus on innovation and growth by removing complexity and delivering fast compliance.
The company also supports Open Banking developments in its latest partnership with TransferGo, which includes both Open Banking API compliance and the implementation of the EU Verification of Payee (VoP), a process that aims to optimise the way institutions confirm whether the name entered by a payer matches the account details provided, reducing fraud and misdirected payments. Partnering with tell.money across CoP, VoP, and Open Banking compliance will enable TransferGo to continue to scale a global remittance solution that focuses on speed, trust, and user experience, without operational complexity.
