This is precisely where Crosskey marks its presence in the Nordic region by providing a new lane to the banking industry by enabling a fruitful collaboration with fintech companies through their forward-thinking technology and innovative open banking solutions.
“We implemented open banking strategy seven years back even before there was any talk about PSD2 or open banking,” remarks Thomas Lundberg, CEO of Crosskey. As a part of their open banking strategy, Crosskey took a strategic decision to tailor its systems to support open banking concepts and later developed a state-of-the-art, cloud-based, PSD2-compliant open banking integration module. “With our open banking solution, banks can access several other banks’ APIs and collaborate with third-party developers to build various banking applications and services,” explains Lundberg.
With our open banking solution, banks can access several APIs and collaborate with third-party developers to build various banking applications and services
Elaborating on the effectiveness of Crosskey’s banking platform, Lundberg cites a case study where S Group, a Finnish retailing cooperative organization wanted to launch a bank in Finland. The business-critical nature of the task demanded a partner with a deep understanding of core banking, and a system with the stability to handle large volumes of transactions. Since S Group was starting its banking business from scratch with the launch of S-Pankki, a retail bank, Crosskey proved to be the ideal choice to tailor a system that closely matched their business needs. Crosskey’s banking products delivered support for customer management, deposits, loans, payments, and business products, with online banking as the primary channel. “We also have a proven track record of helping a Swedish startup bank implement a banking solution within five months,” extols Lundberg.
To deliver banking experiences that align with current digitally driven businesses, Crosskey not only offers PSD2- products but also supports areas outside basic PSD2 scope such as capital markets, credit cards and/or other parts of banking through an exceptional “aggregator” module.
Reinventing Financial Competitive Advantage with High Performance IT Resources
FREMONT, CA: Niclas Södergård, Chief Technology Officer of Crosskey points out “Banks that see the new era in the financial services industry as an opportunity rather than an obstacle have the chance to make huge gains. At Crosskey, our goal is to become the most valuable innovation partner for banks, which involves keeping track of what’s going on in the technology world and developing solutions that deliver optimal value for our clients and their customers.” In light of this vision, Crosskey is creating dynamic, dependable and future proof IT solutions that allow financial institutions to unlock competitive advantage. Read More