The Paypers

Finqware is a Romanian startup that has already brought the Croatian banks into the open banking era in less than two months, achieving 90% market coverage. The Romanian startup established connections with PSD2-compliant APIs of 7 major Croatian financial institutions.

Finqware connects Banca Transilvania to five banks' APIs in the first commercially open banking use case.

The Finqware middleware technology provides a single API for open banking. Thus, BT clients can see their current accounts from ING Bank, Revolut, BCR, and UniCredit Bank in NEO mobile banking app.

As the final beneficiary of open banking, the consumer gets faster and easier access to his finances.

Simultaneously, through Finqware technology, Banca Transilvania benefited from the increased ability to customise the account aggregation process without losing on the customer experience side.

Aside from the multi-banking feature, Finqware is ready to enable:

Multi-banking treasury management solutions
Peer to peer payments for online retailers
Whitelabel Personal Finance Management apps
Compliance solutions for banks to monitor and report the open banking progress
Cross-border financial marketplaces

Finqware develops open banking infrastructure, creating a bridge between consumers or businesses and their financial service providers through a cloud-based middleware leveraging the PSD2-compliant APIs. Launched in 2018 and headquartered in Romania, the company aspires to become a regional leader in the CEE Open Banking space.

Finqware Technology partners with Banca Transilvania