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CEC Bank and Finqware to allow payment initiation in Romania

Monday 28 June 2021 15:17 CET | News

CEC Bank has partnered with Romania-based Finqware to launch initiation of payments through Open Banking from accounts at other banks through its Mobile Banking application, according to nocash.ro.

The new feature was implemented with support from Finqware– a Romanian startup specialising in integration and Open Banking applications and Asseco SEE, the developer of the Mobile Banking application. The new functionality in the Mobile Banking app comes just three months after CEC Bank launched the first Open Banking feature: viewing accounts and transactions from other banks and financial institutions.

CEC Bank’s Mobile Banking app saw a doubling of the number of users and an increase of more than 110% in the number of transactions in 2020. It is the financial institution with the longest tradition in Romania. Founded in 1864, CEC Bank currently has the largest national network, with more than 1,000 branches and territorial units and assets of over RON 41.25 billion at the end of 2020. The Romanian State, through the Ministry of Public Finance, is the sole shareholder of CEC Bank.


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Keywords: Open Banking, payment initiation, mobile banking, partnership
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Romania
This article is part of category

Banking & Fintech