UK-based FinTech HyperJar has chosen open banking options supplier, Salt Edge, in a bid to attain PSD2 compliance and develop new open banking capabilities. The collaboration will allow the FinTech’s prospects to attach their accounts to 3rd occasion functions (TPPs) and look at their HyperJar transactions.
“Salt Edge are experts in providing the essential regulatory services and know-how that mean we can rely on them for these services and we can focus on doing what we’re best at – creating world-first pay tech and brilliant UX for users,” mentioned Chris Lowrie, Chief Working Officer at HyperJar.
In response to Salt Edge, the FinTech’s PSD2 compliance implementation includes a variety of PSD2 required performance together with an API, safe connection of TPPs, TPP developer portal, TPP verification system, shopper dashboard, and so on. HyperJar’s shoppers might be supplied with an aggregated overview of their monetary transactions in any app they use.
HyperJar is a budgeting app and an eWallet that helps folks of their spending plans by allocating cash into a number of jars, utilizing every of those mini-accounts for various spending functions.
“Salt Edge’s aim is to transform the financial market hand in hand with businesses that impact people’s lives like smart digital budgeting that makes it easier to plan expenses. We’re here to assist institutions like HyperJar to join the open banking ecosystem in a fully compliant way and offer new useful services for their clients,” mentioned Ilia Dragan, Head of PSD2 Compliance at Salt Edge.
Not too long ago, Salt Edge was chosen by UK-based Software program as a Service (SaaS), Fiskl. The partnership aimed to allow Fiskl to supply monetary management expertise of SMBs globally.