Backbase, a global leader in engagement banking, has partnered with Salt Edge, a leading provider of open banking solutions, to accelerate the adoption of open banking and help banks seamlessly meet compliance requirements while unlocking new revenue opportunities.

This collaboration enables Backbase customers to integrate robust open banking compliance solutions from Salt Edge. Available end-to-end through the Backbase Marketplace, it ensures seamless connectivity to the bank’s tech stack.

The hidden cost of being compliant 

Banks working toward open banking compliance struggle to build secure authentication flows between third-party providers (TPPs) and their web and mobile apps, resulting in millions of IT dollars spent in building and maintaining these solutions. 

With Backbase offering the banking and integration platform and Salt Edge providing a state-of-the-art open banking compliance solution, banks can now provide a turnkey solution to TPPs without additional build and maintenance costs. 

This solution includes: 

• end-to-end open banking compliance solution, 
• seamless access to Salt Edge’s products offering for Backbase customers,
• a great customer experience for TTPs with dashboard, self-service registration and developer portals.

This partnership marks a significant step in our mission to empower banks to re-architect banking around the customer. 

• 
• Roland Booijen, General Manager Ecosystems

  at Backbase

By collaborating with Salt Edge, we enable banks to not only comply with open banking regulations but also monetise their APIs and offer seamless digital experiences to their customers.

he added.

Turning API modernisation into profit

Beyond compliance, this strategic collaboration allows banks to transform API infrastructure into a key driver of revenue growth. By leveraging Salt Edge’s expertise in API aggregation and compliance, banks can securely connect with TPPs, offer value-added services, and explore new business models that capitalize on the open banking revolution.

Regulatory compliance should not be a bottleneck for banks but rather a catalyst for growth and innovation. By partnering with Backbase, we are equipping financial institutions with the tools they need to effortlessly thrive in the evolving open banking landscape.

• 
• Iulian Mitrea, Head of Partner Ecosystem

  at Salt Edge

A transformative step towards open finance

As the financial industry moves towards an open finance era, this partnership is a testament to Backbase and Salt Edge’s commitment to driving innovation and empowering financial institutions to stay ahead of the curve. 

About Backbase

Backbase is on a mission to re-architect banking around the customer. They are the creators of the Engagement Banking Platform – a composable platform that empowers banks to accelerate their digital transformation by progressively modernising their main customer journeys. From onboarding to servicing, lending and investing, the Backbase platform streamlines every aspect of the customer and employee journey. Pre-integrated with leading core systems and cutting-edge fintechs, it enables institutions to unlock innovation at scale, driving instant value creation.

Visit www.backbase.com for more
Follow Backbase on LinkedIn
Press contact: Alexandros Papaioannou, press-relations@backbase.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 AISP licensed under PSD2, 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’s commitment to reshaping the digital world has been recognised in The Forrester Wave™: Open Banking Intermediaries, 2023 Report, where the company was named a Strong Performer.

Visit www.saltedge.com for more
Follow Salt Edge on LinkedIn and X
Press contact: press@saltedge.com