IPF Digital partners with Mambu and Salt Edge for open banking
Global fintech lender IPF Digital has partnered with cloud banking platform Mambu and open banking solutions provider Salt Edge to become Payment Service Directive 2 (PSD2) compliant and contribute to greater financial inclusion in the European market.
PSD2 is the EU’s equivalent to open banking in the UK, which mandates banks to share anonymised customer data with approved third parties.
IPF Digital provides online loans and revolving credit line facilities to customers in Finland, Estonia, Latvia, Lithuania, Poland, Spain, Mexico, and Australia through a number of brands.
It recently became licensed as an electronic money institution and chose Mambu for core banking services and open banking solutions provider Salt Edge to help it comply with the data-sharing initiative.
Salt Edge’s solution is pre-integrated on Mambu’s core banking platform, helping IPF Digital to make the compliance journey more seamless and save time.
The solution comes with account information and payment initiation APIs, a developer portal for third parties, a TPP verification system that helps IPF Digital in covering its conformity needs and a set of dashboards.
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“We are glad to build new services and provide them to people who don’t have easy access to financial services in their countries,” said Mihkel Karu, business development, board member at IPF Digital.
“In this pursuit, we needed a partner with a high level of expertise in PSD2 compliance and, thanks to Mambu, we found Salt Edge. Integrating its PSD2 Compliance Solution was an easy and well-organised process.
“This partnership contributes to sustainable development on the part of financial inclusion by serving the underserved. It is breaking the market and the information barriers.”
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“Understanding the potential customers’ needs and approaching them with the latest technology is what we appreciate in every partnership that Salt Edge enters in,” said Lisa Gutu, head of business development at Salt Edge.
“We are always happy to help Mambu clients become compliant in no time.
“Enabling PSD2 compliance for IPF Digital is directly contributing to enlarging financial inclusion and opening additional financial services to the formerly underserved categories.
“It is an honour for Salt Edge to be part of this and leave our footprint on the way to sustainable development.”
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“In the age of ecosystems, it’s crucial now more than ever to encourage more symbiotic relationships for the platform economy, and by partnering with both IPF Digital and Salt Edge we’re delivering on our aim of making financial services more accessible,” said Ben Goldin, chief technology officer at Mambu.
“We continuously work to bring best-of-service partners to our ecosystem with the goal of providing our customers with better, simpler access to financial services architectures.
“This also allows them to focus on the delivery of their strategy and customer experience.”