Finom expands its EMI offerings via Open Banking from Salt Edge

Friday 14 October 2022 09:24 CET | News

Netherlands-based B2B fintech platform Finom has started collaborating with Salt Edge to leverage PSD2 possibilities for SMEs and professionals across Europe.


The Dutch B2B fintech company blends together accounting, financial management, and banking functions for early-stage businesses, SMEs, and freelancers into one cross-device product. Having set to accelerate its international expansion in 2022, Finom has got its EMI licence in the Netherlands. As one of the requirements to offer EMI services was to be compliant with all the strict PSD2 requirements, Finom has chosen Salt Edge for this.

Finom has started collaborating with Salt Edge to leverage PSD2 possibilities for SMEs and professionals across Europe.


Fulfilling requirements with Salt Edge

Backed up by Salt Edge’s PSD2 Compliance solution, Finom is leveraging PSD2 possibilities for its customers, making the innovation more secure and allowing customers to share account information with and initiate payments only through regulatory-verified fintech apps.

Finom is now growing steadily, gaining over 3,000 new clients every month. That’s why the company needed to have by its side a partner that would match them at this pace. And Salt Edge was able to always deliver it. There is untapped market potential in the European Union in regards to financial services for SMEs, and Finom already sees how Open Banking-powered services will bring ways to help customers in managing their businesses.

Passing regulatory hurdles

Upon successful testing of the Finom compliance APIs, the company got exempted by the De Nederlandsche Bank from providing a fallback channel, liberating Finom from extra regulatory and technical obligations.  The solution has also successfully passed an external audit on its compliance with PSD2, RTS requirements, and Berlin Group technical standards.

Having an efficient and reliable PSD2 compliance implementation, Finom can quickly respond to customers’ needs, leaving the burdens of TPPs technical integration, portal maintenance, and support to us. Our goal is to assist Finom to provide flawless open banking capabilities in the fastest possible way.

For more information on Salt Edge, please check out the company profile in The Paypers Company Database.

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Keywords: Open Banking, EMI licence, PSD2, partnership, SMEs, TPP
Categories: Banking & Fintech
Companies: FINOM, Salt Edge
Countries: Europe
This article is part of category

Banking & Fintech



Salt Edge

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