Salt Edge, a pioneer in open banking, has teamed up with Western Union, a world chief in cross-border, cross-currency cash motion and funds, to combine its answer into the latter’s multi-currency checking account pilot in Europe.
Backed up by PSD2 compliance, Salt Edge’s answer will allow Western Union to increase the connection with its clients, and create a brand new banking expertise.
Turning into compliant with PSD2 means rather more than fulfilling authorized necessities. By turning to Salt Edge’s PSD2 Compliance Answer, Western Union is leveraging PSD2 prospects for its clients, making the innovation safer and permitting regulatory verified TPPs to entry the developer portal and the PSD2 APIs in accordance with authorized necessities. Ultimately, the ultimate person enjoys an upgraded buyer expertise, utilizing the brand new multi-currency checking account service.
With plans underway to launch a Western Union digital financial institution pilot in Europe, being PSD2 compliant is important to our success and enabling our merchandise. It should enable us to supply clients a superior expertise as we glance to broaden our service portfolio. Our collaboration with Salt Edge will enable us to satisfy these targets, based mostly on the workforce’s give attention to innovation and agility, and nice expertise in offering market-leading options.
Thomas Mazzaferro, Chief Information Officer for Western Union
Western Union immediately has one of many greatest monetary networks on the earth, connecting thousands and thousands of customers to their households and family members, in addition to to the world financial system, throughout greater than 200 international locations and territories and in over 130 currencies. The corporate’s world account payout capabilities can be found in over 125 international locations with real-time capabilities in roughly 100 international locations. Over 60% of Western Union’s world account payout transaction quantity is delivered in real-time.
Ever since PSD2’s adoption, we at Salt Edge have been encouraging and serving to firms take a constructive and constructive method to the directive and see it as a big-time alternative moderately than a compliance hardship. Western Union has had this method from the very starting of our collaboration, focusing all of its efforts on the tip shopper and the best way they’ll be having fun with the brand new companies. We’re honoured to be contributing to this by integrating our PSD2 Compliance Answer and serving to Western Union create all these new alternatives for its customers.
Dmitrii Barbasura, CEO at Salt Edge