Billingo, a Hungarian on-line invoicer, has partnered with Salt Edge, an open banking resolution supplier, to increase its billing companies providing primarily based on financial institution information aggregation.
Introduced on Wednesday, the deal was inked as Billingo doesn’t maintain a PSD2 license, which is necessary for providing such companies.
With this partnership, Billingo will get on the spot entry to financial institution information in a simple and compliant approach, integrating with financial institution PSD2 channels with out having their very own AISP license.
The announcement additionally detailed that Salt Edge will allow Billingo to attach through one platform to 9 main Hungarian banks.
Mentioning the partnership, Albert Sárospataki, co-founder of Billingo, stated: “Salt Edge is likely one of the most refined firms within the open banking world, with entry to 5000+ banks in additional than 70 international locations. Billingo selected Salt Edge because it has the best financial institution protection in Hungary and is taken into account some of the expert and skilled firms on this planet.”
Digitizing the billing course of
The Hungry-based firm presents administration, billing, and monetary administration companies to companies throughout the nation. It is going to now automate and ease all main billing processes utilizing information aggregated from a number of banks.
The platform may also provide the chance to trace the standing of bill success, offering a fast overview of shoppers’ short-term liquidity, and sharing checking account historical past with their accountant.
“Within the fashionable digitalized society, the implementation of open banking is essential because it simplifies the banking expertise to take care of buyer wants and supply modern capabilities for them,” Dmitrii Barbasura, CEO at Salt Edge, added.
“Billingo is a cutting-edge fashionable firm that makes monetary processes easier and extra environment friendly. Salt Edge all the time seeks extra methods to widen its collaboration horizon and is proud to work with an organization that helps companies and promotes open banking options in Hungary.”