Salt Edge's journey in 2022 – Year in review
As Salt Edge wraps up this year, it’s the best time to stop and reflect on their journey. The company is delighted to share the most significant milestones of 2022 and is even more excited for the year to come.
Salt Edge has launched new products, conducted deep market analyses, attended dozens of events from London to Riyadh, welcomed new Salt Edgers on board, expanded on new markets, and reconfirmed the highest level of security by passing once again the international ISO 27001 information security surveillance audit. So here is a look at what we were up to in 2022.
Presenting top use cases for B2B companies powered by open banking
We at Salt Edge believe that making wise decisions based on reliable information holds the key to success. Thus, we’ve analysed thousands of demo requests and our clients’ experience to qualify the most spread and with the highest-potential open banking-powered use cases and discovered some insightful findings that we shared in the “Top 5 use cases for B2B companies powered by open banking” report.
Growing strong and stable
It is an integral part of Salt Edge’s culture to provide a fair and inclusive working environment for all its people. Despite the challenging times worldwide, the team continued growing, focused on delivering high-quality services to its clients and partners, both existing and new ones.
Our team’s efforts led to new partnerships and strengthened existing collaborations with major financial industry players such as Finastra, Temenos, Mambu, Spire, Thought Machine, Tuum, ebankIT, Crassula, FintechOS and others to help financial institutions innovate, grow, and provide value to customers. Looking ahead, we are excited to grow the team even more and expand to new markets via exciting partnerships and clients in the future.
Expanding our offerings to the KSA market
Recently, Salt Edge announced its expansion to the Kingdom of Saudi Arabia, aiming to help banks and other financial institutions bring innovative solutions to the market and contribute to the Kingdom’s efforts toward the digital rise of technologies via open banking and its 2030 vision.
The Saudi Central Bank (SAMA) sees open banking as pivotal in further developing the Kingdom’s financial sector and supporting financial inclusion in the country. Hence, at the end of this year, SAMA published the Open Banking Framework and mandated banks to make their account information APIs available by the end of 2022 and the payment initiation APIs by March 2023. Despite the looming deadlines, Salt Edge’s Open Banking Compliance solution helps KSA banks become compliant in just three months. Moreover, sandboxes for KSA banks are already developed to offer an easy way to show how it starts.
Keeping the security fences high by introducing TPP Verification
Open banking’s success depends on innovation and collaboration, backed-up by serious investments in security. For this purpose, Salt Edge announced earlier this year the launch of a new open banking solution on the European market – TPP Verification. The solution simplifies ASPSPs’ efforts in checking the third-party providers trying to access users’ accounts while keeping these accounts safe.
New website launch – fresh look, seamless experience
A new website was launched earlier this year after months of dedication and hard work. No matter where you are on your device, the updated website provides a more seamless experience.
Our goal was to make the site faster, more user-friendly, and offer all the useful information at a click distance, so visitors could learn more about Salt Edge’s solutions, regulatory specifics, industry news in a much easier way.
There is a whole host of changes and impactful advancements, including clear Salt Edge coverage, an intuitive developers section, dozens of use cases with examples of how businesses from different industries put open banking to work, a comprehensive resources page with insightful materials to answer all your questions, and much more.
Sharing insights at numerous industry events globally
Throughout the year, we were honoured to attend over 20 exciting events globally, meet interesting leaders from the fintech world, discuss open banking and its benefits for people’s lives, and share our expertise. Among the events, we have joined are Money20/20 Europe, Sibos, Seamless Middle East, Seamless Saudi Arabia, Fintech Connect, Milan Fintech Summit, and many others.
Highest level of security confirmed by ISO 27001 certification
Another significant milestone this year is passing the ISO 27001 surveillance audit again, which has been an essential threshold for Salt Edge since maintaining the utmost security level is one of the core differentiators setting us apart from other market players. As a result, Salt Edge’s customers and their end-users get the guarantee that their data is fully protected while potential risks are properly mitigated. Also, everybody can rest assured that data is processed in full compliance with regulatory requirements, including GDPR.
Garri Galanter, CEO at Salt Edge, said: “What a fantastic year for all of us at Salt Edge! We are truly grateful for every new team member, every partner we shook hands with, and every milestone we achieved. I am confident that in the year to come, we will continue to change the financial world for the better through Salt Edge technologies and our people, that are true professionals.
For us, it’s important to dream big and make sure that these dreams come true. We have many exciting plans for the upcoming year and can’t wait to share them with you. Launching new products, more use cases, strengthening existing partnerships and creating new ones, expanding into new markets and, solidifying our position in the existing ones, participating in even more exciting events are just some of our objectives for 2023.
I am deeply grateful to everyone who contributed to the company’s success over the past year as we continue to follow our mission to provide a universal platform that will take the burden off various types of businesses and allow the world to create dozens of use cases based on Salt Edge open banking solutions.
Wishing you a very happy holiday season from the entire Salt Edge team!”
Salt Edge report
Discover what is the current state of open banking payments in Europe in 2021