SIA & finleap connect team up to deliver open banking services in Europe

By Megha Bhattacharya

Open banking platform finleap connect has signed an agreement with SIA in a bid to deliver new Open Banking services to European banks, financial institutions, and FinTechs. The collaboration is expected to allow finleap connect and SIA to integrate their respective PSD2 compliant solutions enabling the adoption at international level of innovative use cases based on Accounting Information Services (AIS) and Payment Initiation Services (PIS) and boosting the growth of new digital payments applications to be provided through different channels.

“By joining forces, SIA and finleap connect will open up the European market opportunities facilitating integration among the financial actors for the creation of cross-border ready-to-use digital services. This will address the growing customer needs of providing tailored services based on real-time information and payments,” stated Daniele Savarè, Innovation & Business Solutions Director of SIA.

According to the companies, the partnership will boost customers’ value proposition through new combined payment options and transactional flows. The Accounting Information Services allow financial institutions, FinTechs, and corporates to access the bank account of the customer, providing a detailed overview of the user’s finances and pursuing the creation of use cases aimed at enhancing the market value proposition. The Payment Initiation Services enable them to take advantage of new payment systems underpinned by innovative digital channels reshaping a new user experience that is more enriched and customized. Indeed the user will be able to make any payment simply, safely, and in real-time.

“The partnership is another milestone achievement towards setting up a pan-European open banking infrastructure, where finleap connect plays a pivotal role with its presence in different markets. We enable more than 370 brands to access to a wide open series of business opportunities; from state-of-the-art data analytics to easy customer interactions, from unprecedented use cases to turn-key banking solutions,” commented Marco Berini, General Manager finleap connect Italy.