TreasurUp and Salt Edge to bring open banking solutions to commercial banks
25th August 2023
TreasurUp, a fintech company specialised in commercial banking services, joins forces with Salt Edge, a global leader in open banking solutions, to enable a first-rate experience in account aggregation and open banking compliance for financial institutions in the UK and EU.
Financial institutions are actively attempting to embrace new trends and maintain their competitiveness in this rapidly evolving environment amid quick advancements and changing consumer preferences. This is where technology companies like TreasurUp and Salt Edge come into play. TreasurUp’s Cash Visibility solution offers a comprehensive view of currently available cash levels held at multiple banks. Through Salt Edge’s open banking connectivity with over 5,000 financial institutions, the partner enables banks to help their clients manage their financials easier. Now businesses are able to add bank accounts from other banks and receive graphical and numerical insights into current and historical account balances – powered by open banking.
The partnership supports banks in achieving PSD2 compliance within strict open banking regulations with minimal resources and fortifies end-user security through Salt Edge’s Mobile SCA solution. Moreover, with connectivity to thousands of financial institutions in 50 countries, banks can facilitate their customers getting instant access to account data and adding a secure payment method to empower businesses to make informed decisions and digitalise their processes.
“We are excited to partner with Salt Edge to bring the power of open banking and cash visibility to company clients of banks. Salt Edge has an impressive track record in guiding banks in the development of the technology they need to become champions of open banking. TreasurUp, on the other hand, specialises in helping banks translate the open banking technology foundation into solutions that help companies make better decisions about their finances and improve their bottom line in an easy and self-service manner.”
“We are delighted to partner with TreasurUp to help banks benefit from the power of open banking. TreasurUp’s expertise in commercial banking will be invaluable in helping us deliver a solution that is truly tailored to the needs of banks and their clients.”
TreasurUp is a Dutch FinTech company that helps banks reshape their online Commercial Banking offering with solutions designed by corporate treasurers that are continuously improved based on feedback. These solutions are designed to help companies manage their risks (including foreign exchange and trade credit insurance) and improve Cross-Border Payments, Cash Visibility, and Cash Flow Forecasting. TreasurUp has identified the gaps between what controllers, treasurers, and CFOs of companies aim to achieve with day-to-day finance operations and what banks have been offering per product line. TreasurUp helps banks break the barriers between business lines and deliver integrated product solutions on multiple channels using the latest technology.
More information: www.treasurup.com
About Salt Edge
Salt Edge is a financial API platform with PSD2 and Open Banking solutions for every business. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway and developing the technology necessary for banks to become compliant with the directive’s requirements. ISO 27001 certified and Open Banking licensed, the company employs the highest international security measures to ensure stable and reliable connections between financial institutions and their customers. The company is integrated with 5,000+ financial institutions in 50+ countries. Salt Edge has been named a Strong Performer in The Forrester Wave™: Open Banking Intermediaries, 2023 Report.