Salt Edge Takes a Firm Stand on Data Security in Open Banking
9.11.2021 13:00:00 EET | Business Wire | Press release
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
Nanochon Receives Regulatory Approval from Panamá’s Ministry of Health to Initiate First-in-Human Clinical Study of Chondrograft™17.8.2026 22:44:00 EEST | Press release
Nanochon, a medical device company developing Chondrograft™, a novel patented implant for the treatment of articular cartilage defects of the knee, today announced that it has received regulatory approval from Panamá’s Ministry of Health to initiate its First-in-Human (FIH) clinical study in Panamá. The study will evaluate the safety and performance of Chondrograft™ in patients with focal chondral defects of the knee and represents a major milestone in the company’s clinical and regulatory development strategy. The trial will be conducted at The Panama Clinic in Panamá City under the leadership of Drs. Juan Osorio and Emilio Tufiño, experienced sports medicine surgeons, with Dr. Osorio serving as Principal Investigator for the study. Dr. Osorio stated, “I am pleased to be the Principal Investigator for this important study, and we look forward to contributing the data that will support a larger clinical study and subsequent market entry.” Nanochon selected Panamá for its growing reputa
TOURISE and Oxford Economics Release New Global Report on Tourism Resilience in an Era of Permanent Disruption17.8.2026 17:33:00 EEST | Press release
TOURISE, in collaboration with Oxford Economics, today released a new report, “Resilience in a World that Doesn’t Reset: Redesigning Tourism for an Era of Permanent Disruption.” The analysis of 85 major crises over two decades shows a clear pattern: in a world defined by continuous shocks, destinations that act before disruption hits recover up to 1.5 times faster than those that wait. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260817880835/en/ “In a world that does not reset between crises, disruption is a constant feature of the global tourism landscape,” said His Excellency Ahmed Al-Khateeb, Minister of Tourism of Saudi Arabia and Chairman of TOURISE. “The real test for destinations measures how they prepare for volatility, protect traveler confidence, and maintain continuity ahead of such events.” Using the current Middle East crisis as a lens, where Gulf hubs carry roughly 14 percent of global transit traffic, the r
The Expensify Visa® Commercial Card Brings New Proactive Spend Controls to 14 Countries17.8.2026 16:00:00 EEST | Press release
Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, travel, and corporate cards, today expanded the reach of Expensify Card spend rules, the market-leading way for businesses to control corporate card spend before it happens. Available to businesses in 14 countries, spend rules let admins decide exactly how, where, and when each Expensify Card can be used, so only compliant transactions go through. Unlike traditional corporate cards that rely on after-the-fact expense review, the Expensify Card enforces policy at the point of purchase. Admins set the rules once, and the card handles the rest. With Expensify Card spend rules, admins can: Lock a card to a subscription. Give each recurring SaaS tool its own virtual card, so a vendor can only ever charge what it should. If the card owner changes teams or leaves, the subscription keeps running, with no swapping cards and no missed payments. Cover a one-time purchase. Issue a virtual card for a single transaction like event r
Riskified Analysis Finds Travel Fraudsters Are Adapting Faster Than Traditional Signals Can Keep Up, With May Flight Risk Up 32%17.8.2026 15:30:00 EEST | Press release
Riskified (NYSE: RSKD), a global leader in ecommerce fraud and risk intelligence, today released new findings from its Travel Industry Insights report, revealing how sophisticated fraud rings and AI-enabled fraudsters are evolving their tactics across airlines, hotels, and online travel platforms. Riskified’s analysis shows that fraudsters are increasingly adapting their behavior to resemble legitimate travelers, making traditional fraud indicators less reliable and creating new challenges for travel merchants. Riskified’s analysis of hundreds of millions of travel transactions across flights, hotels, and land transportation found that flight fraud risk increased through the first five months of 2026, with May 2026 marking the sharpest year-over-year increase at 32% compared to May 2025. The findings show that sophisticated fraud activity is not limited to predictable travel peaks, with organized fraud rings continuously adjusting their methods throughout the year. Riskified's travel n
PIF Delivers Strong Revenue and Profit Growth in 202517.8.2026 14:54:00 EEST | Press release
PIF today published its 2025 Annual Report demonstrating strong financial performance and continued progress against its long-term objectives. As a long-term investor with a unique mandate to drive the economic transformation of Saudi Arabia and deliver sustainable financial returns, PIF maintained a diversified portfolio in 2025, balancing returns with national impact and long-term resilience. Maintaining Financial Discipline In 2025, revenue rose 9% year on year to $120 billion, while net profit more than doubled to $17 billion, supported by stronger contributions from maturing portfolio companies. PIF retained over $900 billion in assets under management and achieved an annualized total shareholder return of 5.8% since 2017. Total shareholder return in 2025 was positively driven by increased dividends from portfolio companies and returns from financial investments. It was also impacted by downward movements in the valuations of some assets, as a result of wider market conditions, an
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