Salt Edge and Finom to fuel finance management for European SMEs

By Megha Bhattacharya

Open banking solutions provider Salt Edge announced that B2B financial services provider Finom has selected the former to simplify business management processes for SMEs and professionals across Europe. Finom is a B2B financial service that aims to save time for SMEs, freelancers, and the self-employed in Europe via a seamless finance management experience.

“…Our data aggregation system powered by Salt Edge is really something new. The way towards disruptive innovation is never easy, but we are sure that this is the right way to go. Entrepreneurs and professionals will love it because our product has been designed by the very same people who are supposed to use it,” said Alena Valovaya, Co-founder at Finom.

Salt Edge stated that its Partner Program allows the company to gain access to PSD2 APIs of European banks. The partnership is expected to eliminate the need for Finom’s customers to enter data manually and fuel the company’s platform features like dashboards with categorised expenses, multi banking environment, the e-invoicing, and e-reconciliation system.

Recently, European IT solutions and services group, Intrasoft teamed up with Salt Edge in a bid to help banks and e-money institutions with PSD2 and SCA compliance. The IT solutions provider is expected to benefit from the open banking solution provider’s PSD2 compliance toolkit and leverage the company’s Authenticator app to create a secure payment environment.

“At Salt Edge, we work to make open banking a new reality for everyone and change the traditional banking experience for end-users. This is why we are proud to help innovative companies like Finom blur the line between accounting, finance management and banking, showing that finance management can be easy with modern technologies,” said Andrei Scutari, Country Manager Italy at Salt Edge.