Introducing the latest release of Salt Edge API, version 5

Salt Edge announced the release of a new version of its unified Open Banking Account Information API; v5 comes with a Consent Management system and with changes that ease the way how financial institutions interact with the platform.


In this new API version, Salt Edge has added a Consent Management System. It is a new compartment in which financial institutions that use the Salt Edge system can create, revoke, and monitor the expiry of the consents granted by their end-users. They also have a detailed view of each consent: the expiry date, the scope of consent (e.g., access account holder information, account details, transaction history), the period of validity and reason of consent revocation, and much more. The Consent Management system is fully compliant with PSD2 and RTS requirements.

“Consent is the leitmotiv of PSD2, therefore we went above and beyond to make it super easy for financial institutions to monitor consents of their customers,” said Dmitrii Barbasura, CEO at Salt Edge.

During the lifecycle of API v5, a set of new scopes of consents will be added and handled via Consent Management System. These will be consents for obtaining payment details, credit card statements, information about product offers, and others.

Also, all the data enrichment services that Salt Edge has developed over the past years such as merchant identification, transaction categorization are now available via one unified end-point. Salt Edge will be adding new services like financial health check API, expense report, payee verification to the data enrichment portfolio so that clients can have a complete picture of their end-customers’ financial situation.

“Over time, we managed to develop a very good understanding and ability to anticipate our clients’ needs and transpose their high expectations into a new version of Salt Edge API. Also, by meticulously studying the PSD2, RTS, GDPR, and local legislations such as PSR2017 and consulting with different European regulatory bodies, we have built Open Banking Gateway state of the art services,” added Dmitrii Barbasura.

With Open Banking gaining traction in Europe and beyond, Salt Edge strives, more than ever, to give institutions access to better technology and data so these can bring their business ideas to life.

More detailed information about v5 of Salt Edge API can be found in the Salt Edge documentation.


About Salt Edge

Salt Edge is a global fintech company offering a range of cutting-edge solutions to financial institutions, banks, finapps, and other fintech companies. Among its most popular services are financial data aggregation API, open banking and PSD2 solutions, white label retail banking, and data enrichment. ISO 27001 certified, the company employs the highest international security measures to ensure stable and reliable interoperability channels between financial institutions and their users. Connected to 3100+ financial institutions in 61 countries, Salt Edge brings comprehensive financial data at the fingertips of hundreds of thousands of end-users on a daily basis.

More information:

www.saltedge.com

Phone number: +1-437-886-3969

E-mail: press@saltedge.com

Salt Edge report

Discover what is the current state of open banking in Europe

Download now

Related articles

2 min read Apr 2017

Mobillity partners with Salt Edge Inc. to deliver personal finance management | Salt Edge

April, 2017 – London-based Mobillity has partnered with Salt Edge Inc. to provide consumers in the United Kingdom with a way to save on their recurring bills & subscriptions. By partnering with Salt Edge, Mobillity now can offer consumers a new way to manage their personal finances. Mobillity has a profit-sharing…

2 min read Jul 2016

Salt Edge welcomes Chip Financial Ltd in its startup program | Salt Edge

Salt Edge’s agreement with the UK based FinTech startup Chip Financial regulates the use of Spectre data aggregation API to provide for the money-saving app’s effective performance. July 1, 2016 – Chip Financial is in the process of implementing Spectre API within the final developmental stages of its automated assistant that…

5 min read Apr 2018

Priora PSD2 & Open Banking Solution demo at Finovate Europe ‘18 | Salt Edge

Salt Edge Inc. showcased the very first live demo of its PSD2 & Open Banking Solution integrated in Norvik Banka. April 6th, 2018 – On the 7th of Match, the second day of Finovate Europe 2018, the ExCel Center hosted 1400+ senior fintech attendees, 300+ major financial institutions representatives, and…

4 min read Nov 2017

Spectre API to be used by Société Générale Expressbank | Salt Edge

Salt Edge Inc. partners in Bulgaria with Société Générale Expressbank to deliver a customer-oriented Personal Finance Management solution which will incorporate Spectre API. November 28th, 2017 – Société Générale Expressbank, the seventh largest financial institution in Bulgaria and part of Societe Generale group, has partnered with Salt Edge Inc. to…