Aid to banks for the challenges of the PSD2 directive


The partnership with Salt Edge adds to the Finance offer of the Exprivia | Italtel group new fintech services addressed to banks to withstand the competition of the new non-bank operators and allows to take advantage of the other solutions already in Exprivia’s portfolio in the Credit area.

Exprivia signed a partnership agreement with the fintech company Salt Edge Inc., aimed at making new platform available to the banks relating to the introduction of the European directive PSD2 (Payment services directive 2), operational from September 14, 2019.

The new directive allows bank customers to manage their accounts, make payments, request loans using the new providers that will be able to securely access bank customer data and offer them new products and services with advantageous commissions. As a result, banks enter a broader market, with new players (TPPs) increasing competition on financial services aimed at both retail and business customers.

The partnership agreement allows the Exprivia | Italtel group to integrate its offer in the Finance sector with the platform of Salt Edge, a fintech company with specific expertise in the technologies required by banks and new non-bank providers to comply with the requirements of the PSD2 and the Open banking. Salt Edge, with offices in Toronto and London, operates in the IT sector dedicated to finance in Europe, Asia-Pacific and America. The company is integrated with more than 3500 financial institutions in more than 60 countries.

“With PSD2 gaining traction in Europe, Salt Edge strives to build better technology for financial institutions so they can securely and freely interact with each other and with their customers. The partnership with Exprivia|Italtel will enable more institutions to benefit from a truly open banking environment by means of innovative services,” commented Dmitrii Barbasura, CEO at Salt Edge.

“The partnership with Salt Edge – said Filippo Giannelli, Head of Market Unit Banking, Finance & Insurance at Exprivia – will enable us to enhance our portfolio of offerings and convey technologically advanced services and solutions capable of generating new opportunities both for companies and for individuals, in the belief that the new regulatory ‘frontiers’ can become useful tools for economic growth “.

The new services that Exprivia | Italtel will be able to offer to banks, thanks to its ability to integrate and add value to Salt Edge’s fintech solutions, concern both the retail segment and companies and large industrial groups. In the retail segment, in particular, an advanced service is offered, able to aggregate and categorize movements on current accounts; the service is enhanced by a Personal Financial Manager, which simplifies and facilitates the user-bank interviews through Machine Learning and Virtual Assistant techniques. The platform dedicated to companies offers banks a self-assessment support providing in real time the trend of the company’s liquidity, with continuous monitoring of the assumptions of business continuity and timely reporting of the state of crisis. Among the services relating to large customer groups, the agreement with Salt Edge allows banks to activate more stringent assessment mechanisms than the requirements of Basel 2 so as to activate loans in very short times (minutes and not weeks) and acquire new customers with the offer of the new payment methods, provided by the PSD2

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