Banktivity partners with Salt Edge to offer their customers a seamless way to manage personal finances
Banktivity, a US-based PFM app, teamed up with Salt Edge, a leader in offering open banking solutions, to enable its customers in the UK and EU to connect their bank accounts and have all their financial data pulled into the app instantly and fully digitally.
The modern PFM market is witnessing considerable growth, accelerated by the digital revolution in financial services, and is expected to reach $1,213 million by 2023. The rising adoption of advanced financial tools transforms the way end-customers manage their money. Banktivity, a powerful and intuitive personal finance app, knows very well that a great PFM app is usually convertible to digitalisation, and that eliminating the need to insert the financial data manually is crucial. Using Salt Edge’s data aggregation solution, Banktivity enables its end-customers to connect and access all bank accounts data in one place, helping them to make better decisions.
Salt Edge Account Information solution allows Banktivity customers in the UK and EU to access 2,500+ open banking and PSD2 channels instantly. Thus helping to fix the pain point of tedious manual financial data entry, which is error-prone, time-consuming, and frustrating for customers. Now, there is no need to download, then import files from the bank manually, the process is fully digital. This helps Banktivity customers to immediately understand their financial situation and get control over their money, cutting off the hassle of daily financial management tasks.
We wanted a one-stop solution to allow our customers to connect their bank accounts via open banking. Before we found Salt Edge, the hurdle to become AISP-licensed was too much for us to take on. With Salt Edge, we’ve been able to focus on making our app better for managing finances instead of navigating the ins and outs of the open banking regulations. Leveraging Salt Edge data aggregation solutions, our customers can connect their accounts in Banktivity and then automatically connect their transactions, seamlessly. Salt Edge has helped us grow our customer base by 10%.
Open banking brings vast improvements to financial management, helping people to access all their financial data to help with budgeting and saving. Instead of the consumer having to keep track of their financials in different bank accounts, Salt Edge’s open banking solutions help to aggregate all the bank data into one PFM app to offer a single unified view. PFM apps with open banking solutions – is a match made in heaven, and we are truly excited to team up with Banktivity to explore all the benefits from this cohesiveness.
IGG Software, Inc. develops the Banktivity family of personal finance management solutions exclusively for macOS and iOS, including Banktivity for Mac, Banktivity for iPhone, and Banktivity for iPad. Founded in 2003, the Vermont based company is dedicated to creating intuitive, elegant and powerful applications, empowering users to budget better, save more, and invest to secure their financial future.
More information: www.banktivity.com
About Salt Edge
Salt Edge – a financial API platform with PSD2 and open banking solutions. 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.
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