As banks across the continent prepare to provide third-party access to financial data, Enfuce Financial Services and Suomen Asiakastieto exemplify how a collaborative fintech ecosystem can make the most of PSD2.
PSD2 has opened the floodgates of financial data and Suomen Asiakastieto wanted to offer a single point of entry to banks and third parties with a unified interface to generate next-generation credit scoring using more accurate and clearly presented transaction data.
One of the leading providers of digital information services in the Nordics, Suomen Asiakastieto partnered with Enfuce who has a strong track record within data and compliance in the payment cards and open banking industry – as well as a reputation for delivering cost-effective, secure and scalable solutions. Enfuce got to work right away to integrate their Enfuce API Hub to quickly onboard banks and financial institutions.
More accurate credit decisions can help customers avoid debt. “This service is a European solution for KYC, cash flow and risk assessment purposes that helps fight against over-indebtedness,” explains Reetta Sinelampi, Development Director at Suomen Asiakastieto. Customers can also control who can access their information.
The partnership exemplifies the trend of collaboration in fintech. Strong alliances bring out the best in all stakeholders and deliver more profitable and scalable services. “I look forward to Finland having a fintech ecosystem in place where companies interact with each other to develop better customer experiences,” says says Monika Liikamaa, co-founder and CCO at Enfuce. “We want to be an important player in enabling new services and ideas.”
PSD2 and open banking will serve as catalysts for fintech innovation and Enfuce supports the ecosystem with cutting-edge digital tools and a collaborative mindset. Enfuce aims to build strong partnerships and continually open up new revenue streams for their customers.