Salt Edge helps Simplifi in accelerating their accounting services via open banking

Salt Edge helps Simplifi in accelerating their accounting services via open banking
26.05.2020 10:58 am

Salt Edge helps Simplifi in accelerating their accounting services via open banking

Open Banking

Simplifi-HQ, an online accounting service provider from New Zealand has chosen Salt Edge, a leader in offering open banking solutions, to speed-up and digitise its software package by accessing financial data of their clients directly from the bank.

Simplifi-HQ is an advanced cloud accounting software that covers accountancy, tax, invoicing, reporting and payroll features in one easy-to-use solution that is fully focused on helping freelancers, contractors, and small businesses. Partnering up with Salt Edge allows Simplifi to get easy and fast access to the open banking ecosystem in the UK and Europe, while also enjoying worldwide financial institution coverage.

During recent years, open banking has been making impressive progress globally and is starting to tell a much broader digital transformation story. This partnership is important in helping to accelerate the open banking journey especially for SMEs in Europe and beyond.

We have chosen Salt Edge because of their worldwide financial institutions coverage, easy access to the full power of open banking in the UK and Europe, and a well-documented and solid API. Salt Edge’s desire to work with us and open up more bank feeds in countries where we do not have service currently, will create more opportunities for Simplifi-HQ.

Greg Hanton, Founder at Simplifi-HQ

 

Salt Edge data aggregation allows Simplifi-HQ to skip many steps like bank integration, monitoring of APIs, normalisation of data format, and start using bank data almost instantly. Now the company can experience the full power of open banking in their software because all the technical, security, and compliance matters related to PSD2 and bank connectivity are handled by Salt Edge. Via Data Enrichment solution, Simplifi-HQ obtains the bank transactions of their clients in a categorized and well-structured format that is a true time and money saver.

 

At Salt Edge we aim to transform the traditional interaction between financial institutions and fintechs in the open banking framework. The potential of such transformation is enormous and we are thrilled to bring another partnership to the fruitful open banking ground. Combining cutting-edge technologies from Simplifi-HQ with open banking solutions offered by Salt Edge creates a powerful digital concentrate that supports small businesses and eventually the whole local financial market in various countries.

Vasile Valcov, VP at Salt Edge

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