To deliver on its commitment to offering augmented solutions and technology to organisations of all sizes, Innovance teamed up with Salt Edge to equip businesses with access to a full stack of fintech solutions.
The announcement comes shortly after Salt Edge and Spire partnered to support Bahrain’s Open Banking adoption. By introducing Corporate Banking APIs, the two companies aimed to allow Third-Party Service Providers (TPPs) to develop new, business-aligned products and solutions, including financial management tools, automated payment services, and data-supported insights. At the same time, it could enable small and medium-sized enterprises (SMEs) to get access to financial solutions by supporting fintech companies in delivering customised credit tools based on accurate data assessments.
The partnership is set to support financial institutions, including digital wallets, lenders, and digital and traditional banks, in becoming Open Banking compliant by leveraging minimal resources, while also ensuring security throughout the process. Also, Innovance’s clients can now access account data instantly via a gateway, enabling them to make improved financial decisions, be more informed, and better compete in the market. Additionally, users are set to benefit from a secure payment method that simplifies the payment process.
When commenting on the announcement, representatives from Innovance Technologies underlined that the collaboration merges their company’s experience in financial technology solutions with Salt Edge’s knowledge in Open Banking and secure data aggregation. By combining their capabilities, the two companies work towards providing increased value to clients by augmenting their financial experiences and scaling innovation in the fintech industry. At the same time, the partnership brings Innovance’s Open Banking expertise in Turkey and the product of Salt Edge, which delivers a solid proposition in the region for financial entities and their end customers. In turn, this can open up the potential to expand worldwide by receiving connectivity to over 5000 financial institutions globally.
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