Erste Group taps Salt Edge to offer multi-banking services in CEE
By Gloria Methri
Erste Group, a financial services company in Eastern Europe, has collaborated with open banking solutions provider Salt Edge. This strategic partnership aims to bolster the multi-banking functionalities for Erste Group’s retail and corporate customers through the George banking app and the ErsteConnect API.
Founded in 1997, Erste Group is one of the largest financial services providers in Eastern Europe, serving over 16 million customers across 7 countries.
The bank already uses Salt Edge’s Account Information solution to enable multi-banking for its customers through the George banking app in Austria and Romania. This feature provides the app users with a comprehensive, 360-degree view of all their finances in one place, allowing them to easily connect their bank accounts and view all their transactions.
However, the true advantage of multi-banking extends beyond the convenience of consolidating various accounts on a single screen. It allows users to see their complete financial picture rather than just isolated pieces.
In addition to retail solutions, Erste Group’s corporate clients will benefit from integrating Salt Edge’s solutions via their premium ErsteConnect API. This API provides a single, secure access point for managing finances across Erste Group and other banks in the CEE region. It supports both Account Information and Payment Initiation Services, allowing seamless integration into existing ERP systems or custom solutions.
Tim Wanzelee, Product Owner of Group Open Banking Erste Group, said, “Our partnership with Salt Edge has enabled us to offer multi-banking services to both retail and corporate customers. The expertise in Open Banking and extensive PSD2 connectivity across the CEE region has empowered us to deliver secure and efficient access to account information and initiate payments.
Salt Edge’s connectivity with various banks in the CEE region eliminates Erste Group’s need to onboard and maintain connections with multiple banks individually.
“We are thrilled to be the preferred technology provider of account aggregation and payment initiation services for one of Eastern Europe’s largest financial institutions, serving nearly 16 million customers in the region,” said Erica Virlan, VP of Sales Salt Edge. “Together with Erste Group, we empower users with enhanced financial insights and control, driving the future of banking in the CEE region. We look forward to supporting Erste Group’s mission to provide superior financial management solutions.”
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
October 30, 2024