Billingo, a Hungarian online invoicer, has partnered with Salt Edge, an open banking solution provider, to expand its billing services offering based on bank data aggregation.
Announced on Wednesday, the deal was inked as Billingo does not hold a PSD2 license, which is mandatory for offering such services.
With this partnership, Billingo will get instant access to bank data in an easy and compliant way, integrating with bank PSD2 channels without having their own AISP license.
The announcement also detailed that Salt Edge will enable Billingo to connect via one platform to nine major Hungarian banks.
Mentioning the partnership, Albert SÃ¡rospataki, co-founder of Billingo, said: âSalt Edge is one of the most sophisticated companies in the open banking world, with access to 5000+ banks in more than 70 countries. Billingo chose Salt Edge as it has the greatest bank coverage in Hungary and is considered one of the most skilled and experienced companies in the world.â
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Digitizing the billing process
The Hungry-based company offers administration, billing, and financial management services to businesses across the country. It will now automate and ease all major billing processes using data aggregated from multiple banks.
The platform will also offer the possibility to track the status of invoice fulfillment, providing a quick overview of clientsâ short-term liquidity, and sharing bank account history with their accountant.
âIn the modern digitalized society, the implementation of open banking is crucial as it simplifies the banking experience to attend to customer needs and provide innovative capabilities for them,â Dmitrii Barbasura, CEO at Salt Edge, added.
âBillingo is a cutting-edge modern company that makes financial processes simpler and more efficient. Salt Edge always seeks more ways to widen its collaboration horizon and is proud to work with a company that supports businesses and promotes open banking solutions in Hungary.â