finleap connect signs partnership agreement with SIA

Wednesday 20 January 2021 12:55 CET | News

finleap connect, the full-stack open banking platform of the European fintech ecosystem finleap, has signed a strategic partnership agreement with SIA, an European hi-tech company in the payment services and infrastructures sector, controlled by CDP Equity.

The partnerships is aimed at delivering new Open Banking services to European banks, financial institutions and fintechs.

It will allow finleap connect and SIA to integrate their respective PSD2 compliant solutions enabling the adoption at international level of use cases based on Accounting Information Services (AIS) and Payment Initiation Services (PIS) and boosting the growth of new digital payments applications to be provided through different channels.

The partnership between the two companies marks another important step towards a European customers’ value proposition through new combined payment options and transactional flows: this is made possible by leveraging on advanced API interfaces which allow third parties to access straight to the customer’s bank accounts, respecting PSD2 regulations and thereby providing different use cases.

Moreover, it stands as a positive case of an ecosystem aimed at sharing investments and solutions, which is part of an established trend. Indeed, the synergy brings significant benefits such as the definition of ready-to-use solutions to approach the customer earlier and having a better time to market. The new disruptive technologies and regulations lead all the market players to also cooperate in terms of cost efficiency and strengthen their positioning.

Specifically, the Accounting Information Services allow financial institutions, fintechs and corporates to access the bank account of the customer, providing a detailed overview of the user’s finances and pursuing the creation of use cases aimed at enhancing the market value proposition.

Likewise, the Payment Initiation Services enable them to take advantage of new payment systems underpinned by innovative digital channels reshaping a new user experience that is more enriched and customised. 

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Keywords: finleap connect, SIA, Open Banking, payments
Categories: Banking & Fintech
Countries: Europe
This article is part of category

Banking & Fintech