In the dynamic world of fintech, open banking has risen as an innovative solution, reshaping how consumers interact with financial services. According to Statista, the number of open banking users worldwide was expected to grow by an average of 50% per year between 2020 and 2024, with 12.2 million users in Europe in 2020. In 2024, the number of open banking users is close to 64 million, 70% more than...
In recent years, the fintech industry has experienced a significant transformation, with women actively participating and succeeding in this dynamic landscape. Fintech has traditionally been a field dominated by men. Yet, women are now contributing to the industry with fresh perspectives, skill sets, and leadership styles. As it continues to grow, women are not just participants but key architects of innovation and improvement. They are redefining the connection between finance...
Stephen Winyard, Director at Salt Edge Ltd, on how travel and online gaming stand to benefit significantly from leveraging open banking payments Open banking has had an incredible impact since its adoption in 2018, inspiring a wave of change and transformation as it disrupts the financial sector and spreads its influence beyond traditional banking worldwide. While some countries have already established regulations, others are in the process of expanding the...
On February 14, 2024, the Jordan Payments and Clearing Company (JoPACC), along with the Central Bank of Jordan (CBJ) and a group of local banks, launched The Jordan Open Finance Standards. This groundbreaking initiative was made possible through JoPACC's fintech Incubator JOIN Fincubator, and it is set to revolutionise the financial landscape in Jordan. The launch of the technical standards follows the visionary "Open Finance Services Instructions" issued by the...
Plannix, a personal finance hub that helps with wealth tracking, portfolio management, and financial planning, teams up with Salt Edge, a leader in offering open banking solutions, to enable users from Italy and beyond to connect and view all their bank accounts in one place instantly. These days, financial planning is a crucial aspect of our daily lives. The constantly fluctuating markets, investment requirements, and day-to-day costs require people to...
As 2023 draws to a close, it's time for us to take a moment to reflect on the past year and celebrate the accomplishments of our team at Salt Edge. While you were choosing which team you were - Barbie or Oppenheimer (or even Barbenheimer) - here's what happened at Salt Edge in 2023: Throughout the year, we’ve remained committed to our core values of collaboration, transparency, and customer-centricity. These...
In the world of auditing, professionals are no strangers to an array of difficult challenges that can sometimes significantly impact their efficiency and accuracy. The journey begins with a limited view of a client's entire financial transaction history, frequently resulting in a laborious process of obtaining further transaction details at a speed more appropriate for an earlier period. Adding to the complexity, data from various banks arrives in inconsistent formats,...
Endava, a global provider of digital transformation, agile development, and intelligent automation services, announces its new partnership with the leading open banking platform Salt Edge to share the full potential of open banking solutions. As Open Banking Limited reports, in September 2023, the number of active open banking users in the United Kingdom rose to almost 8 million. A year earlier, in October 2022, the number was estimated to be...
Open banking is a revolutionary concept that has been gaining traction worldwide, and Saudi Arabia is no exception. In fact, the kingdom has taken a significant step forward in implementing open banking solutions. In 2020, the Saudi Arabian Monetary Authority (SAMA) launched the Open Banking Framework, which outlines the guiding principles, regulatory requirements, and technical standards for open banking in the country. It started with the debut of the first...
The Central Bank of Jordan (CBJ) has taken a significant step towards modernising the financial services landscape in the Kingdom by unveiling comprehensive guidelines for Open Finance services. These guidelines apply to all banks operating within the jurisdiction of CBJ, as well as online payment and money transfer companies under CBJ's supervision and control. This pioneering initiative aligns with evolving global trends in financial services, facilitating the secure sharing of...
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