Salt Edge Takes a Firm Stand on Data Security in Open Banking
The following is a statement on open banking’s safety from Salt Edge – a pioneer in providing open banking solutions.
Open banking is literally opening up the access to data that once used to be inaccessible. Since there were no powerful informational campaigns on the perks of open banking and the security it provides to end-users, people aren’t fully understanding how safe it is for them to open-up access to their accounts for enjoying the useful services provided by third-parties. Dmitrii Barbasura, Salt Edge CEO and Co-founder, shares his thoughts on the advantages and the real level of safety for end-users when using open banking.
“Open banking isn’t a new phenomenon. There’ve been similar services based on data sharing up until now. The difference is that it is safer than ever now, under open banking regulations”, says Dmitrii Barbasura.
“The number 1 rule for third-party providers refers to data security. Being accepted to the open banking framework is challenging: every party must implement and prove the existence of the utmost standards of physical security, software tools, and security policies.”
Here are a few reasons why open banking is safe:
- It uses application programming interfaces (APIs) to deliver fast and secure data transfer or to safely initiate payments.
- Account access happens only upon user’s explicit consent.
- Users have full control over the process due to SCA.
“We at Salt Edge have a very strong security awareness culture within the organisation. An ever-expanding number of leading FinTechs, banks, and other financial institutions trust us to deliver Account Information, Payment Initiation, PSD2 Compliance solutions, and others. For us, open banking participants, getting data protection wrong brings commercial, reputational, regulatory, and legal penalties. Getting it right brings rewards in terms of client trust and confidence.” concludes Dmitrii Barbasura.
Read the full article on why open banking is safe on https://blog.saltedge.com/data-security-in-open-banking/.
About Salt Edge
Salt Edge, a financial API platform with PSD2 and open banking solutions integrated with 5000+ financial institutions in 50+ countries, focuses on enabling third-parties to get access to bank channels via a unified gateway, and developing the technology necessary for banks to become compliant with the directive’s requirements. ISO-27001 certified, AISP-licensed under PSD2, it employs the highest security standards.
More information: www.saltedge.com
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211109005196/en/
Contact information
Adriana Arnaut
press@saltedge.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Polpharma Biologics and Libbs Farmacêutica Sign Licensing Agreement for a Biosimilar for Autoimmune Diseases10.12.2025 08:01:00 EET | Press release
Polpharma Biologics, a leading biopharmaceutical company specializing in the development and manufacturing of biosimilars, is thrilled to announce the signing of a landmark licensing agreement with the Brazilian company Libbs Farmacêutica! Through this strategic partnership, Libbs Farmacêutica will gain exclusive rights to commercialize a cutting-edge biosimilar for autoimmune diseases in the rapidly growing Brazilian market. Polpharma Biologics retains full responsibility for the development and manufacturing of the biosimilar. Libbs Farmacêutica will hold an exclusive license for the commercialization, marketing and distribution of the biosimilar in Brazil. This collaboration opens up exciting new opportunities and demonstrates the shared commitment of both companies to delivering innovative and accessible therapies to patients. “Entering the Brazilian market with a biosimilar is a significant step for Polpharma Biologics and reflects our ongoing mission to expand access to high-qual
NayaPay Launches Global QR Payments for Pakistanis via Alipay+10.12.2025 06:00:00 EET | Press release
NayaPay, one of Pakistan’s fastest growing fintech platforms, has launched global QR payments in collaboration with Alipay+, Ant International’s global wallet gateway. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209591389/en/ The partnership enables millions of NayaPay users to scan-and-pay at Alipay+ merchants initially across more than 50 countries, connecting Pakistani consumers to an extensive global ecosystem spanning retail, dining, transport, healthcare, entertainment and more. With this innovative feature, paying abroad just got faster and more affordable. With NayaPay, Pakistanis can now scan and pay securely worldwide with lower costs, less friction, and a seamless checkout experience wherever they go. Alipay+ connects 40 international mobile payment partners to more than 150 million merchants globally. The launch reinforces NayaPay’s commitment to delivering world-class payment experiences to Pakistani consu
Biocytogen Completes STAR Market IPO, Becoming the First “H+A” Global Drug Innovator10.12.2025 04:50:00 EET | Press release
Biocytogen (Beijing) Pharmaceutical Technology Co., Ltd. (“Biocytogen,” SSE: 688796; HKEX: 02315), a global biotechnology company advancing innovative drug discovery, today announced its successful listing on the Shanghai Stock Exchange STAR Market. This follows the Company’s listing on the Hong Kong Stock Exchange in September 2022 and marks a significant milestone in establishing Biocytogen as the first “H+A” dual-listed global drug innovator, reinforcing its mission to become the global headstream of new drugs. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251209977992/en/ The Company’s IPO price was set at 26.68 RMB per share, with an opening price of 58 RMB, representing a 117% increase over the offering price. Based on the opening price, Biocytogen’s market capitalization exceeds 25.9 billion RMB. Biocytogen’s proprietary RenMice® platforms (RenMab™, RenLite®, RenNano®, RenTCR-mimic™) enable the discovery of fully hum
Argo Infrastructure Partners Increases Ownership and Capital Commitment to TierPoint10.12.2025 00:00:00 EET | Press release
Argo Infrastructure Partners, LP (“Argo”), an established mid-market asset manager of essential infrastructure assets in North America, today announced it has acquired on behalf of its managed funds the equity interests of the majority of minority shareholders in TierPoint. The transaction reflects Argo’s continued conviction in TierPoint’s strategy and growth potential during a period of accelerating demand for TierPoint’s enterprise-class data center services. Since Argo’s initial investment in 2020, $3 billion of capital has been raised to fund growth and reduce TierPoint’s cost of capital by terming out debt facilities. The investment capital has advanced TierPoint’s market position as a data center services provider to enterprises, government organizations, hyperscalers and other consumers of state-of-the-art digital infrastructure. With these investments, Argo has supported the national expansion of TierPoint’s data center platform, and its efforts to meet and exceed customers’ r
Venture Global Announces Closing of $3,000,000,000 Senior Secured Notes by Venture Global Plaquemines LNG, LLC9.12.2025 23:30:00 EET | Press release
Venture Global, Inc. (“Venture Global”, NYSE: VG) announced today that its subsidiary, Venture Global Plaquemines LNG, LLC (“VGPL”) has closed an offering of $3,000,000,000 aggregate principal amount of senior secured notes, which has been issued in two series: (i) a series of 6.125% senior secured notes due 2030 in an aggregate principal amount of $1,750,000,000 (the “2030 Notes”) and (ii) a series of 6.500% senior secured notes due 2034 in an aggregate principal amount of $1,250,000,000 (the “2034 Notes” and, together with the 2030 Notes, the “Notes”). The 2030 Notes will mature on December 15, 2030, and the 2034 Notes will mature on June 15, 2034. Venture Global had previously announced the issuance of $2,500,000,000 of senior secured notes by VGPL on April 21, 2025, and $4,000,000,000 of senior secured notes by VGPL on July 3, 2025 (collectively, the “Existing Notes”), bringing the combined aggregate amount of senior secured notes issued by VGPL to $9,500,000,000 since the project
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom