ING, Salt Edge to Support Open Banking Use-Cases for SMEs

ING Bank N.V. has partnered with Salt Edge, which claims to be a pioneer in providing open banking solutions, “for leveraging the widest international bank connectivity and thus, unlocking a whole new range of open banking use cases for SME segments from various industries, corporate, and individual end-users.”

ING chose Salt Edge “for its client-oriented approach and exceptional coverage which allows the bank to serve all types of clients in the key markets, extending the range of services ING can offer.”

Salt Edge’s enterprise-level offering “matches ING clients’ high requirements in flexibility and customization options.”

Salt Edge claims it “has the widest bank connectivity of over 5,100 banks worldwide for account information and 2,000 bank API integrations for payment initiation across Europe.”

Salt Edge’s Open Banking Solutions Expert and Vice President, Erica Virlan, commented:

“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. 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.”

As noted in the update, ING is “a global financial institution with a strong European base, offering banking services through its operating company ING Bank.”

The purpose of ING Bank is “to empower people to stay a step ahead in life and in business. ING Bank’s more than 58,000 employees offer retail and wholesale banking services to customers in over 40 countries.”

ING Group shares are “listed on the exchanges of Amsterdam (INGA NA, INGA.AS), Brussels, and on the New York Stock Exchange (ADRs: ING US, ING.N).”

Sustainability is “an integral part of ING’s strategy, evidenced by ING’s leading position in sector benchmarks.”

ING’s Environmental, Social, and Governance (ESG) rating by MSCI was affirmed ‘AA’ in September 2022.

As of August 2022, Sustainalytics “considers ING’s management of ESG material risk to be ‘strong’, and in June 2022 ING received an ESG rating of ‘strong’ from S&P Global Ratings. ING Group shares are also included in major sustainability and ESG index products of leading providers Euronext, STOXX, Morningstar, and FTSE Russell.”

As mentioned in the announcement, Salt Edge – a financial API platform with PSD2 and open banking solutions for every business.

The company “has two main vectors of activity enabling third parties to get access to bank channels via a unified gateway, and developing the technology necessary for banks to become compliant with the directive’s requirements.”

ISO 27001 certified and AISP licensed under PSD2, the company “employs the highest international security measures to ensure stable and reliable connections between financial institutions and their customers.”

The company is “integrated with 5,100+ financial institutions in 50+ countries.”

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