OpenPayd, an API-led Banking-as-a-Service provider, has teamed up with open banking infrastructure provider, Token.io LTD to bring Open Banking to OpenPayd’s customers.
The multi-phase collaboration is part of OpenPayd’s goal to become the one-stop-shop for its corporate customers’ banking and payments needs. Furthermore, in time it aims to launch a new Open Banking API, according to the official press release.
Through the integration with Token’s API platform, OpenPayd’s customers can bring together business and corporate bank accounts from multiple institutions into a single dashboard, where they can manage their balances and initiate payouts to beneficiaries.
In the second phase, OpenPayd will introduce its Open Banking API, enabling its customers such as crypto, financial institutions, remittance companies, lenders, and online marketplaces to offer banking, payments, and Open Banking services directly to their own customers. End users will always be able to initiate payments from any of their bank accounts and transact without ever leaving their familiar provider’s app or web interface whilst ensuring PSD2 compliance.
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