Landsbankinn chooses Salt Edge to become PSD2 compliant

1 week ago 13

Landsbankinn, the largest Icelandic bank, has joined forces with Salt Edge, a pioneer successful unfastened banking, to comply with Icelandic instrumentality connected the PSD2 legislation.

The caller Act connected Payment Services, which transposes the European PSD2 into Icelandic law, entered into unit connected November 1, 2021, and volition instrumentality afloat effect connected May 1, 2022. Once the regularisation accompanying the Act is afloat implemented, banks and fintechs volition get authorised entree to lawsuit and concern slope accounts to initiate payments and supply banking data-related services. Leveraging Salt Edge’s PSD2 Compliance Solution, Landsbankinn volition connection its customers the anticipation to presumption their slope accounts successful apps and websites outer to the slope and usage these services to marque transfers from their accounts.

“Landsbankinn is enthusiastic astir technological improvement that helps america simplify beingness for our customers. With that successful mind, we person chosen to enactment with Salt Edge, a reliable and experienced partner, to comply with the Act connected Payment Services. The Act enhances contention and user extortion successful fiscal markets and supports innovation successful the outgo market. Our collaboration with Salt Edge gives america entree to planetary expertise that successful crook enables america to heighten our robust and agile lawsuit service. We purpose to harness exertion to marque finances smarter and much approachable, arsenic ever placing lawsuit restitution first”, says Arinbjörn Ólafsson, Managing Director of IT astatine Landsbankinn.

Following the provisions of the Act, Landsbankinn has opened a sandbox, oregon improvement environment, hosted and operated by Salt Edge, allowing fintechs and different companies successful the assemblage to research the functionality of assorted slope systems and to make innovative fintech solutions. The sandbox allows developers to retrieve relationship accusation and transaction statements, trial home and cross-border transfers, and more.

“As a pioneer successful unfastened banking, Salt Edge is thrilled to assistance Landsbankinn connected its mode to becoming 1 of the unfastened banking trailblazers successful Iceland. Becoming compliant means overmuch much than conscionable fulfilling ineligible requirements, it is an astonishing accidental for the full portion to connection the eventual banking acquisition and boost section fiscal wellbeing. Landsbankinn, an ever-smarter bank, volition proceed to alteration and make successful harmony with the assemblage it serves, and Salt Edge is honoured to beryllium a portion of specified an important milestone”, says Andrei Scutari, Country Manager astatine Salt Edge.

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