Kaleyra and Epiphany launch first Open Banking hub in Italy

The platform is supposed to give banks a space to launch second Payment Services Directive (PSD2)-compliant products, speeding up innovation and app deployment by getting rid of regulatory roadblocks. 

The partnership, signed in July 2019, will give banks using Kaleyra’s platform access to three of Epiphany’s ‘readymade’ apps: Instapay, an instant payment service via mobile, Account Aggregation, a single API with 100% coverage of the Italian market, and InstaCredit, a real-time microcredit solution. 

These three initial apps, which are PSD2 and General Data Protection Regulation (GDPR)-compliant, will soon be accompanied by more in the coming months. 

The hub is also designed to increase competition in Italy, reduce implementation costs and avoid “disintermediation by third party processors (TPPs) all together”.

For more information about the initiative, you can read the full announcement here.