Berlin and Milan, 20 January 2021 – finleap connect, the full-stack open banking platform of Europe’s leading fintech ecosystem finleap, has signed a strategic partnership agreement with SIA, a leading European hi-tech company in the payment services and infrastructures sector, controlled by CDP Equity, to deliver new Open Banking services to European banks, financial institutions and fintechs.
It will allow finleap connect and SIA to integrate their respective PSD2 compliant solutions enabling the adoption at international level of innovative use cases based on Accounting Information Services (AIS) and Payment Initiation Services (PIS) and boosting the growth of new digital payments applications to be provided through different channels.
The partnership between the two companies marks another important step towards a European customers’ value proposition through new combined payment options and transactional flows: this is made possible by leveraging on advanced API interfaces which allow third parties to access straight to the customer’s bank accounts, respecting PSD2 regulations and thereby providing different use cases.
Moreover, it stands as a positive case of an ecosystem aimed at sharing investments and solutions, which is part of an established trend. Indeed, the synergy brings significant benefits such as the definition of ready-to-use solutions to approach the customer earlier and having a better time to market. The new disruptive technologies and regulations lead all the market players to also cooperate in terms of cost efficiency and strengthen their positioning.
“By joining forces, SIA and finleap connect will open up the European market opportunities facilitating integration among the financial actors for the creation of cross-border ready-to-use digital services. This will address the growing customer needs of providing tailored services based on real-time information and payments,” stated Daniele Savarè, Innovation & Business Solutions Director of SIA.
“The partnership is another milestone achievement towards setting up a pan-European open banking infrastructure, where finleap connect plays a pivotal role with its presence in different markets. We enable more than 370 brands to access to a wide open series of business opportunities; from state-of-the-art data analytics to easy customer interactions, from unprecedented use cases to turn-key banking solutions,” commented Marco Berini, General Manager Italy of finleap connect.
Specifically, the Account Information Services allow financial institutions, fintechs and corporates to access the bank account of the customer, providing a detailed overview of the user’s finances and pursuing the creation of use cases aimed at enhancing the market value proposition.
Likewise, the Payment Initiation Services enable them to take advantage of new payment systems underpinned by innovative digital channels reshaping a new user experience that is more enriched and customized. Indeed the user will be able to make any payment simply, safely and in real time.
finleap connect addresses the fragmented open banking landscape with a “full-stack” platform. It enables partners to access financial transactions, enrich the transactions with data & analytics tools, and ultimately deliver seamless digitized financial services to customers. finleap connect has the unique ability to tap into category leaders founded in the finleap ecosystem, including Solarisbank, ELEMENT and Elinvar, driving additional value to partners.
The company is a regulated payment institution under the Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG) with offices in Berlin, Frankfurt, Hamburg, Milan, Madrid and Paris. As a business unit of finleap, finleap connect is part of the leading European fintech ecosystem, a group with 1,300 employees from more than 80 countries.
SIA - a subsidiary of CDP Equity - is European leader in the design, creation and management of technology infrastructures and services for Financial Institutions, Central Banks, Corporates and the Public Sector, in the areas of Card & Merchant Solutions, Digital Payment Solutions and Capital Market & Network Solutions. SIA Group provides its services in 50 countries, and also operates through its subsidiaries and branches in Austria, Belgium, Croatia, Czech Republic, Germany, Greece, Hungary, the Netherlands, Romania, Serbia, Slovakia, and South Africa. The company also has representation offices in the UK and Poland.
For more information: www.sia.eu/en