Moldindconbank has partnered with the Canadian open banking platform Salt Edge to enhance its compliance with the European Payment Services Directive (PSD2) in Moldova.
As one of Moldova’s largest full-service banks, Moldindconbank will use Salt Edge’s open banking compliance solution to ensure secure, regulated access to customers’ financial data and facilitate integration with third-party providers (TPPs).
Salt Edge’s Software-as-a-Service (SaaS) solution, launched in October 2018, includes a range of APIs for account information, payment initiation, and payment instrument issuer service providers. It also features tools for TPP verification and management, regulatory reporting, and mobile strong consumer authentication (SCA).
This adoption comes nearly two years after the National Bank of Moldova (NBM) incorporated PSD2 into its legal framework, requiring the country’s financial institutions to comply with the directive by February 2025. This directive aims to enable banks and fintechs to access customer and business bank data, facilitating payments and banking information-related services.
Moldindconbank expects that this integration will allow it to “swiftly meet the NBM’s requirements and empower its clients to access a comprehensive overview of their financial transactions through any regulated app of their choice.”
“Harnessing Salt Edge’s international expertise in regulatory compliance allows Moldindconbank to quickly comply with local open banking requirements while elevating our digital solutions, furthering our dedication to providing top-notch services to our clients,” said Mihail Iovu, deputy chairman of the managing board at Moldindconbank.
Other institutions using Salt Edge’s solution include Landsbankinn in Iceland, financial super-app Curve, and Shanghai Commercial Bank in Hong Kong, among others.
Source: fintechfutures.com
