European expansion is more than ever our top priority, as evidenced by our recent fundraising. We have been focusing on accelerating the international coverage of our products, with new Wealth connectors and the arrival of Pay in Italy, as well as strengthening the Bank product in Spain.
Open Finance is experiencing a very strong craze throughout Europe. The evidence is clear: more and more fintech firms and banks using Open Banking or Open Finance technology are developing in several European countries at the same time.
In addition to the major institutional groups deploying their offerings in several countries via their local subsidiaries, there are now Agicap, Finary, and Ismo. These new players think of their product as “European-first”: they plan to deploy their solutions in the European market from the outset. France is often only the first step.
At the same time, we can witness significant growth in transactions generated by fintech firms in every European country. Moreover, this trend is expected to increase over the next few years, according to the latest estimates from Statista and BBVA, a sign that local dynamics are strong and favorable to the development of new innovative players.
Budget Insight is not to be outdone. Committed to our clients, we support their international growth by enabling them to deploy their services throughout Europe. Firstly with the increase of our Bank (AIS) and Pay (PIS) coverage, but also with the strengthening of our Wealth coverage (savings accounts, loans, and investments).
4 new Wealth connectors in Italy
As we announced in March, the coverage of Wealth in Italy is getting richer. You could already aggregate the data of the following banks’ securities accounts (positions, values, capital gains, and losses):
- Banca Sella
The list of available banks is growing, with the arrival of connectors for:
- Monte dei Paschi di Siena
- Poste Italiene
To date, Budget Insight is the only TPP that offers securities account aggregation for Italian banks. This is our commitment to Open Finance – extending the scope of Open Banking to other types of accounts than current accounts.
Initiate payments in Italy with Pay
Our Pay product is also coming to the Italian market in a big way. You can now initiate wire transfer payments to your customers with our connectors available for the following 10 banks:
- Cassa Centrale Banca / ChiantiCanca
- Banca Carige
- Banco BPM
- Intesa Sanpaolo
- BPER banca
- MonteDeiPaschiDiSiena Banca
This brings our coverage to 85%. In a country where bank card use is relatively low, this payment method has great potential for development.
Bank: Aggregate PSD2 account data in Spain
With our Bank product, you can aggregate the data of bank accounts, both personal and business accounts, held in the leading banks in Spain:
- Banco Sabadell
And this is just the beginning: we are working to reach 50 banks in Spain, always ensuring that we provide you with the best experience in business accounts.
For all our products, we focus on service quality in all markets. With this in mind, our technical teams have developed a testing strategy in live conditions, end-to-end, with real bank accounts.
Like Finary, Agicap, and Neymo, you can trust us for your European expansion.