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Fairo, Salt Edge to offer Romanian freelancers Open Banking connectivity

Thursday 24 February 2022 10:52 CET | News

Fairo, a financial app for freelancers, has partnered with Open Banking solutions provider Salt Edge to enable Fairo customers to track their business banking transactions in the app and to automate the management of administrative tasks.

Since the start of the pandemic, the freelance economy has grown while the widespread adoption of remote work has fuelled the shift in the job landscape. Millions of independent freelance professionals boosted the demand for a cost-effective and comprehensive tool to save time by effectively managing business finances and administration including invoicing, accounting, and tax reporting. Fairo app was created to answer such growing demand. Built by Austria-based startup Creative Dock, with the support of Raiffeisen Bank International, Fairo app was launched on the Romanian market in August 2021.

Leveraging Salt Edge Account Information solution, the Fairo team launched the FairoSync feature. With it, Fairo enables customers to get access to a full overview of their banking transactions in the app compliantly, without needing its own PSD2 licence. Fairo customers simply connect their bank account to the app and can track their business income and expenses directly in Fairo. Furthermore, combining Salt Edge Account Information solution with Fairo’s invoice-payment pairing technology, Fairo customers can forget about tracking the status of their invoices manually in Excel sheets. Fairo now automatically tracks if client invoices are paid, overdue, or outstanding.

FairoSync’s security aspects ensure that the API service used has no capability to move money or make withdrawals from connected user accounts.


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Keywords: partnership, Salt Edge, Open Banking, API
Categories: Banking & Fintech
Companies:
Countries: Romania
This article is part of category

Banking & Fintech






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