Salt Edge partners with SAGA to support banks with compliance changes

The National Bank of Serbia (NBS) released its Regulatory Technical Standards (RTS) and extended the compliance deadline from May 6, 20205, to January 1, 2026. The partnership ensures that Serbian banks have access to global and local expertise to navigate the new regulatory requirements.

Helping financial institutions adapt to regulatory changes

With the extended compliance deadlines, banks in the country can prepare and ensure a compliant transition. Salt Edge is committed to supporting Serbian financial institutions as they embrace Open Banking. In December 2024, the company partnered with SAGA to ensure banks comply with Open Banking regulations, as mentioned in the Payment Services Act (PSA), which mirrors the European PSD2.

By partnering with SAGA, the company supports banks in meeting compliance enforcements and creating Open Banking-powered financial products and services for their customers.

Serbia’s introduction of RTS aims to align its legislative framework with European standards while fostering technological progress. The regulatory changes will strengthen customer protection, broaden financial service offerings, and reduce costs. The extended compliance deadline offers Serbian institutions additional time to align with the requirements. By 2026, financial institutions will have to provide third-party service providers with secure access to customers’ account information through APIs, facilitate payment initiation services, and ensure compliance with Open Banking standards. This will upgrade customer protection within the financial ecosystem, and improve competition and transparency.

Salt Edge’s Open Banking compliance hub provides Serbian banks with advanced tools and services tailored to meet the local market’s specific needs. This suite includes PSD2 and Open Banking-compliant APIs, a robust TPP verification system, secure payment and account access with full SCA and dynamic linking compliance, consent management tools, and detailed reporting, delivering a cost-effective and scalable approach to regulatory compliance.