Financial data access gets a boost as Salt Edge teams up with Thinslices for easier navigation
In a groundbreaking move, European company Thinslices has partnered with Salt Edge to make financial data more accessible and actionable for businesses across industries. This collaboration aims to simplify financial data aggregation and enable account-to-account payments for businesses, thereby improving efficiency, accuracy, and customer experience.
According to Stefan Sarbu, CEO of Thinslices, the partnership with Salt Edge is aimed at helping companies build smarter financial products faster. Maria Rusu, Business Development Manager at Salt Edge, echoed this sentiment, stating that the partnership is focused on making financial data more accessible and actionable for businesses.
Salt Edge, a company committed to financial data connectivity and payment initiation capabilities, aggregates data from over 5,000 financial institutions across 50-plus countries. Thinslices, on the other hand, specializes in system integration and front-end development, providing white label solutions to lower front-end development costs.
Benefits of the Partnership
The partnership offers several benefits to businesses:
- Simplified access to comprehensive financial data: This allows for better analytics, decision-making, and customer insights.
- Faster, more secure payment processing: Account-to-account payments reduce transaction costs and enhance cash flow management.
- Improved user experience: Seamless financial data integration and payment initiation in digital platforms enhance the overall user experience.
Potential Industries that can Benefit
Industries such as fintech and banking, e-commerce and retail, accounting and financial services, lending and credit, utilities and telecom, and even automotive finance and lending can benefit from this partnership. Improved aggregation of customer financial data and faster payments can enhance service offerings, reduce friction at checkout, support efficient bookkeeping, aid in risk assessment, and enhance payment reliability.
Contribution to Open Banking
This partnership is expected to contribute to the practical application and scalability of Open Banking. By simplifying financial data aggregation and enabling account-to-account payments, businesses can leverage real-time financial data and payments for improved operational efficiency and customer satisfaction.
Unlocking New Payment Possibilities
According to Maria Rusu, the partnership with Thinslices will unlock new payment possibilities for businesses. This collaboration is intended to streamline Open Banking adoption, reduce integration complexity, and enhance decision-making.
Backbase has also partnered with Salt Edge to enable Open Banking compliance among banks, further emphasizing the impact of this collaboration.
In essence, this partnership supports digitization and transparency in financial services, enabling businesses across sectors to leverage real-time financial data and payments for improved operational efficiency and customer satisfaction.
The partnership between Thinslices and Salt Edge promises to unlock new payment possibilities, making financial data more accessible and actionable for businesses across various sectors, including fintech, banking, e-commerce, accounting, lending, utilities, and automotive finance. By simplifying financial data aggregation and enabling account-to-account payments, this collaboration aims to improve operational efficiency, enhance cash flow management, and provide a seamless user experience. The partnership is expected to contribute significantly to the practical application and scalability of Open Banking, allowing businesses to leverage real-time financial data and payments for better decision-making and customer satisfaction. Backbase's partnership with Salt Edge further underscores the impact of this collaboration, as it focuses on enabling Open Banking compliance among banks. This partnership not only supports the digitization and transparency of financial services but also fosters collaboration within the technology industry.
