Finastra Fusion: Streamlining Open Banking Compliance with Salt Edge Solution

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Finastra Fusion: Streamlining Open Banking Compliance with Salt Edge Solution

Navigating Open Banking Regulations

With the ever-evolving landscape of Open Banking regulations, financial institutions are faced with the challenge of meeting stringent compliance requirements. Finastra's Fusion, in collaboration with Salt Edge, offers a comprehensive solution to streamline the complex process of compliance.

Cost-Effective and Scalable Solution

Salt Edge’s Open Banking and PSD2 Compliance solution provides a cost-effective and technically scalable approach to compliance. This Software-as-a-Service (SaaS) solution covers all essential components required by regulators, including testing and live environments for TPPs, the TPP Developer Portal, consent management, and more. By leveraging Salt Edge's solution, financial institutions can save on development, maintenance, and support costs, while ensuring compliance with PSD2/OB requirements in just one month.

Proven Off-the-Shelf Solution

Salt Edge's OB Compliance solution boasts a proven track record of success, with over 100 API implementations for financial institutions globally. The solution includes TPP verification, communication channels, a developer portal, API versioning, and alignment with regulatory requirements, all managed by the vendor. Furthermore, Salt Edge's PSD2 solution has been audited by third parties, underscoring its reliability and security.

Building Blocks for Compliance

The Salt Edge solution offers essential building blocks for compliance, including functions like retrieving customer accounts, financial transactions posting, international payment initiation, and customer onboarding. These APIs seamlessly integrate with Finastra Core banking solutions, such as Fusion Essence and Equation, enabling clients to go live in a month. By providing pre-integration with Finastra's solutions, Salt Edge significantly accelerates the compliance process for financial institutions.

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