Open banking benefits
Open banking offers a digital boost to lending, providing access to real-time financial data directly from banks across all Europe and beyond via a single API.
Real-time data source
Start using real-time financial data including KYC details, account numbers, personal and business data directly from banks across all Europe and beyond. Fill in all the necessary data automatically to reduce friction, eliminate errors, speed-up onboarding and improve customer experience.
Income & identity verification
Refine the underwriting process by validating the identity and account information in several clicks. Check instantly the sources of income including basic salary, freelance, dividends, abroad, and mitigate risks associated with outdated and false information. Eliminate manual checks and prevent fraud by immediate data verification.
Financial insights & expense analysis
Improve accuracy of credit scoring calculation by designing a quicker and more reliable credit assessment model. Sophisticated pattern recognition and machine learning algorithms deliver enriched data that helps you analyse your customer’s financial health.
Take lending decisions fast and easy as one-two-three. Stop asking a borrower to physically bring documents. Real-time financial data coming directly from users’ bank accounts into your software empowers you to take lending decisions in a split second.
Enable your customers to easily initiate loan repayments directly from their bank accounts, without leaving your app or website. Allowing credit disbursement and setting automatic payment requests straight in your app or website, makes the payment experience more convenient. Easy and fast without cards or hidden fees from other payment processors.
See how lending companies are successfully putting open banking to work with Salt Edge.
Founder & CEO at Credit Hero
The collaboration with Salt Edge granted us access to real-time financial data to automatically verify the applicant’s identity, account number, income sources, and balance. We are not only looking to achieve more operational efficiency but also to deliver a more intelligent risk management and enhance the customer experience.
Managing Director at Forward Advances
Salt Edge data-driven open banking toolkit helps Forward Advances provide our customers with a better experience and deploy much needed capital to small businesses so they can concentrate on growing. Salt Edge’s solution stood out with the business categorisation offering that is not supported by most open banking providers.
Salt Edge toolbox
Open banking-enabled and digital boost for any type of lending: personal, business, traditional, alternative, RBF, P2P, SME, mortgage, crowdfunding, etc.
Access the open banking data from 5,000+ financial institutions in over 50 countries with Salt Edge
Value-added services for complete financial behavior analysis: merchant identification, financial insights, business and personal transaction categorisation
Choose the shortest path to discover countless open banking opportunities. Salt Edge handles all the technical, security, compliance matters for you
ISO 27001 certified and PSD2 licensed, Salt Edge employs the highest international security standards to initiate payments and access financial data
Pay by any bank from Europe, faster and more secure