Erste Group has announced its partnership with Open Banking solutions provider Salt Edge in order to bring advanced and secure multi-banking services to the CEE region. Following this announcement, the partnership was backed by the extensive expertise of both entities and is expected to optimise the multi-banking solutions in the CEE region.

This process aims to bolster the multi-banking functionalities for Erste Group’s retail and corporate clients through the George banking application, as well as the ErsteConnect API. In addition, both financial institutions will continue to focus on meeting the needs, preferences, and demands of customers and users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. More insights on the Erste Group x Salt Edge collaboration According to the official press release, the bank already uses Salt Edge’s Account Information solution in order to enable multi-banking for its clients through the George banking app in Austria and Romania.

This feature also provides award-winning app users with a comprehensive, 360-degree view of all their finances in one place, which allows them to easily connect their Erste or any other Romanian and Austrian bank accounts and view all of their payments. The benefits of multi-banking also extend to allowing customers to see their complete financial picture, rather than just isolate pieces, fostering a deeper understanding and financial well-being. In addition to retail solutions, Erste Group’s corporate users will benefit from integrating Salt Edge’s services via their premium ErsteConnect API.

This API was developed in order to provide a single, secure access point for managing finances across Erste Group and other banks in the CEE region. The product also supports both Account Information and Payment Initiative Services, which allows secure and efficient integration into existing ERP systems or customer tools, while significantly optimising operational efficiency and financial oversight for corporate users as well. Salt Edge’s extensive connectivity with multiple banks in the CEE region will also eliminate the need for Erste Group to individually onboard and maintain connections with several financial institutions.

This dynamic registration feature streamlines the onboarding procedure, saving time and resources, while also expanding the range of available connections to meet customers' needs. Source: Link .