Dutch banking group ING Bank has chosen financial API platform Salt Edge to enable a new range of Open Banking use cases for the SME segments, from various industries, corporate, and individual end-users.
According to a statement issued by Salt Edge, it was selected by ING Bank for its “client-oriented approach” and coverage, which allows the bank to serve all types of clients in key markets, thereby extending the range of services ING can offer.
Salt Edge’s Open Banking solutions expert and vice president, Erica Virlan, said: “It’s fulfilling to see the growing interest in Open Banking from financial institutions, especially when they strive to deliver innovations to their clients of all sizes.
“Collaborating with ING Group and helping them bring their disruptive ideas to the market faster is an honour.”
Salt Edge’s bank connectivity extends to more than 5,100 banks globally for account information and 2,000 bank API integrations for payment initiation across Europe.
Virlan added: “We are always committed to being agile and eager to meet the most unique and custom requirements of our clients, providing first-class technical support and offering the largest bank API coverage.
“Combining these key components allows us to deliver on our promises and contribute to ING’s ambitious plans.”
In August 2022, ING announced it would “phase out” Yolt, its business-to-business Open Banking operations, on the basis “it is not feasible to achieve its ambitions with Yolt”.
The phase-out process is due to complete at the end of April 2023.
Earlier this year, Salt Edge began working with Shanghai Commercial Bank to enable it to become PSD2-compliant.