This has the scope to empower banks towards agility, better customer experience and integration with external ecosystems.

Using the principles of Opening Banking, PwC built a demonstration digital bank and integrated a number of fintechs using SaaS API.

Salt Edge is working closely with PwC to help businesses implement Open Banking technology. Salt Edge’s data aggregation technology automatically structures and categorises bank data fetched via Open banking channels – for tracking, budgeting, payment and planning purposes. Also, Salt Edge’s personal finance management (PFM) app where users can manage their finances holistically by connecting bank and e-wallet accounts, is part of PwC’s Digital Ecosystem Banking.

Another use case on which Salt Edge and PwC work is contributing to the mortgage application flow, where the end-user can connect their bank accounts, including mortgage ones, for faster decision-making, as well as optimising the mortgage repayment process by using Open Banking payment initiation.

Salt Edge – a financial API platform with PSD2 and Open Banking solutions. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway, and developing the technology necessary for banks to become compliant with the directive’s requirements. ISO 27001 certified and AISP licensed under PSD2, the company employs international security measures to ensure connections between financial institutions and their customers. The company is integrated with 5100+ financial institutions in 70+ countries.