By teaming up, Saga and Salt Edge aim to focus their efforts on supporting Serbian financial institutions fall in line with recent amendments to the Payment Services Act (PSA), which mirrors the European PSD2 and introduces Open Banking-assisted services to the Serbian financial market. As of 6 May 2025, all banks in the region are set to be obliged to offer Third-Party Service Providers (TPSPs) safe access to customers' account information via APIs, facilitate payment initiation services, and comply with Open Banking standards to improve competition, transparency, and consumer protection within the financial ecosystem.
The announcement follows Salt Edge’s expansion into the Republic of Serbia, as well as its collaboration with Erste Group to provide advanced and safe multi-banking solutions to the CEE region. The two organisations’ alliance was facilitated by the knowledge of both entities and was projected to optimise the multi-banking solutions in the CEE. Through this process, Salt Edge and Erste Group intended to scale the multi-banking capabilities for Erste Group’s retail and corporate clients via the George banking app and the ErsteConnect API.
Saga and Salt Edge plan to provide Serbian banks with access to tools and services developed for the local market’s needs, demands, and preferences. The partnership is based on Salt Edge’s full-stack Open Banking Compliance Hub, with the service including PSD2 and Open Banking-compliant APIS, a TPP verification system, secure payment and account access with SCA and dynamic linking compliance, consent management solutions, and reporting features.
Furthermore, representatives from Saga commented on the news, mentioning that working together with Salt Edge assists in the advancement of Serbia’s banking sector. Merging Salt Edge’s knowledge in Open Banking and Saga’s understanding of the local market is set to enable banks in the region to meet PSD2 compliance obligations while creating new services that can scale competitiveness and equip customers with a more optimised experience.
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