Slovakia-based TrustPay has announced its partnership with ibanXS in order to leverage its suite of solutions in the process of expanding its Open Banking reach. Following this announcement, TrustPay’s clients and customers will be enabled to benefit from an optimised Open Banking experience, as well as `Pay by Bank` solutions.

In addition, the Slovakian PSP is set to meet the needs, preferences, and demands of its users and to remain compliant with the requirements and laws of the industry, while also aiming to improve its development process at the same time. ibanXS’s recent strategy of development Netherlands-based company ibanXS delivers its customers and collaborators access to European banks, identity providers, and financial institutions by combining its open market services with the platform. The aim is set to offer clients simple-to-use, secure, and efficient products.

The company had multiple partnerships and product launches in the last couple of months, covering several geographic areas around the world. In June 2023, the Slovenia-based fintech FLIQA announced its partnership with the company in order to give clients and customers access to banks and financial institutions via Open Banking services. Throughout this collaboration, FLIQA was set to deliver users and partners effective and secure products, as well as a developer-friendly infrastructure for a safe and efficient suite of payment options.

At the same time, the firm focused on pay-ins and pay-outs via Open Banking, for money collections and money withdrawals. Customers were given the possibility to accept instant payments, benefit from data capabilities, and make payouts in multiple markets around the world. The company’s services and expertise in the industry were set to be combined with ibanXS’s technology and products, as well as its wide reach of bank connections.

Earlier in February 2023, RPA provider Nidaros announced its collaboration with ibanXS, aiming to deliver access to more than 2,000 European banks to its customer base. Following the announcement, Nidaros’ virtual employees were enabled to quickly and securely request payments, make transactions and payments, as well as automatically retrieve bank statements for processing. Furthermore, the client’s banking institution was no longer relevant.

By using the new technology, the procedure of automating tasks (such as retrieving, reading, or processing bank statements) was improved. In addition, the partnership enabled the possibility of delivering a reminder with a payment request following a reversal in an automatic, effective, and secure manner. .