Vault core’s integration to Salt Edge

At a glance
Salt Edge is a one-stop shop for open banking solutions that, pre-integrated with Vault Core, enables banks to comply with any open banking regulation in the world
Solution category
Open Banking
Geography
Global
Built by
Salt Edge

The challenge

There is increasing pressure on banks to be compliant with strict open banking requirements, while at the same time, customers demand fintech solutions with a human touch. 

Becoming regulatory compliant and also connecting to multiple banks in a country, or across multiple countries, can both be resource-consuming due to various technical API standards and requirements. In order to succeed, banks need a dedicated and highly-experienced team that can build and maintain these API connections, develop a consent management system, assure a high-level of security, and more. 

The solution

Our solution with Salt Edge aims to help banks meet these challenges. The combination of offered solutions - Open Banking Compliance Hub, Open Banking Gateway, and White Label PFM - enable banks to create dozens of use cases, new monetisation sources, and improved customer experience.


Salt Edge solution mockup
Benefits

Improved data sources and customer visibility 

Salt Edge’s Open Banking Gateway is a unified API that offers connection to enable financial institutions to get instant access to their customers’ bank accounts in over 5,000+ banks in Europe, APAC and Americas for account information and payment initiation. The solution comes with a set of data enrichment tools (transaction categorisation, merchant identification, financial insights) which help in conducting analysis of end-users’ financial behaviour.  

Speed to market

Financial Institutions can become compliant with the necessary open banking standard in a matter of weeks (e.g. PSD2), courtesy of the fact that Salt Edge’s solutions are pre-integrated with Vault Core and it takes care of all the required components, ensuring minimal tech integration and support from the bank side

Improved user experience 

Salt Edge’s customisable PFM solution enables banks to offer advanced personal finance management tools to improve user experience and drive customer engagement to a whole new level - all powered by open banking.

Salt Edge use cases
How the solution works

The solution is powered by a comprehensive set of APIs and a full third party provider (TPP) dedicated environment that includes a TPP dedicated API, ticketing system, monitoring dashboard, and more, to offer TPPs all the support required for integration.

The solution is cloud agnostic and can be locally deployed, even in jurisdictions where data can't leave the territory of the country. Salt Edge also provides bank’s representatives full guidance and training materials to ensure a smooth implementation and successful launch of the Open Banking Compliance solution and all other solutions.

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