France-based SaaS banking platform Skaleet has announced a partnership with Salt Edge , an Open Banking payment and compliance services provider. According to the press release, the partnership with Skaleet is part of Salt Edge’s plans to supply a gateway that would allow for on-the-spot payments as well as safe access to data from multiple sources, from various banking institutions.

At the moment, Salt Edge enables users to access over 5,000 banks from all over the world (it supports 50 countries) via one API. The company is AISP licenced under PSD2 as well as ISO 27001 certified. What is more, the company offers compliance with a wide range of institutions such as Open Banking (UK), and CDR (Australia) – among others –, as well as with the API standards from Saudi, Jordan, and Brasil.

What’s in store for Open Banking The significance of Open Banking is on the rise  and its benefits can extend to both consumers and businesses. While consumers can use Open Banking to better spend and manage their finances during this period of time that is marked by instability, businesses can utilise it to provide their customers with a seamless payment experience that can secure their retention. Whilst its current popularity is unquestionable, Open Banking still has to ensure this ascending trend continues by guiding customers through learning about what it entails and by working together with the ecosystem and confirming customer satisfaction by catering to their specific needs.

The innate open nature of Open Banking can, however, come with some risks. The main liability that most analysts of the banking industry agree upon has to do with security, mainly the possibility of data breaches caused by hacking or other threats. Nonetheless, as these concerns are addressed and given the benefits they bring to the current financial situation, Open Banking payments are still a critical solution that satisfies both end users and businesses alike.

Skaleet’s recent partnerships Besides this latest partnership with Salt Edge, Skaleet has recently announced a series of other strategic partnerships and product launches. For instance, in March 2023 it announced the launch of a new module addressed to financial institutions that allowed them to process and manage loans in a timely manner. In April, Skaleet partnered with AMLYZE  in an effort to better prevent financial crimes.

The partnership also involved a collaboration between the two companies as they exchanged valuable insights into how financial service providers can supply services that cater to the needs of their clients. In the latter part of 2022, the company also partnered with 42Flows.Tech, as the software development firm was looking to expand its services in Europe. .