"Salt Edge selected by Tradu for adherence to PSD2 regulations and payment initiation services"
In a significant move, London-based multi-asset trading platform Tradu has partnered with global leader in Open Banking solutions, Salt Edge. This partnership aims to enhance user trust and ensure a seamless and protected financial experience for Tradu users.
With the adoption of Salt Edge's Open Banking Gateway for Payment Initiation Services (PIS), Tradu users will be able to top up their accounts directly from their bank accounts in both the UK and EU, delivering a fast, secure, low-friction funding experience.
The partnership will also support connections to over 500 financial institutions across more than 20 countries, simplifying both integration and compliance efforts for Tradu as it expands its wallet services across Europe.
Regulatory Compliance and PSD2 Conformance
Salt Edge provides fully PSD2-compliant APIs that ensure Tradu meets stringent open banking regulations regarding data security, consent management, and user authentication. This compliance reduces legal risk and simplifies adherence to evolving regional and international regulatory frameworks.
Comprehensive API Suite
Salt Edge's APIs enable functionalities including Account Information Services (AIS) to access real-time account balances and transaction data, and Payment Initiation Services (PIS) to allow users to initiate payments directly from their bank accounts within Tradu's platform.
Seamless Bank Connectivity and Integration
Salt Edge's solution has been validated for compatibility with enterprise-grade infrastructure such as IBM LinuxONE and IBM Z, supporting scalable, secure, and highly available deployments that are critical for fintech platforms like Tradu.
Consent Management and Security
The solution includes robust consent management tools, ensuring transparent handling of user permissions and aligning with best practices for data privacy and security. By leveraging established PSD2-compliant security protocols, Tradu can enhance user trust and reduce fraud risks.
Innovation Enablement and User Experience
With real-time access to verified financial data and streamlined payment processes, Tradu can offer its users personalized insights, faster transactions, and an overall improved trading experience. This also facilitates new revenue-generating services and enhances customer loyalty.
In addition to the compliance and authentication services already provided, Tradu will have access to optional services like the MCI exemption and a custom TPP portal through Salt Edge's solution. The partnership will also help Tradu prevent fraud while maintaining a frictionless customer experience.
Dan Martalog, senior Open Banking solutions expert at Salt Edge, stated, "Secure and compliant access to financial data is essential for innovative platforms like Tradu to scale confidently while meeting PSD2 requirements."
This partnership positions Tradu to confidently navigate open banking regulations and fintech industry demands, ensuring a trustworthy and efficient trading experience for its users.
- Through the collaboration with Salt Edge, Tradu can utilize their Open Banking Gateway for Payment Initiation Services (PIS), enabling users to securely top up their accounts directly from their bank accounts in both the UK and EU.
- Salt Edge's APIs will support Tradu's connections to over 500 financial institutions across more than 20 countries, simplifying integration and compliance efforts as Tradu expands its wallet services across Europe.
- Salt Edge's APIs, being fully PSD2-compliant, ensure Tradu meets stringent open banking regulations regarding data security, consent management, and user authentication, thereby reducing legal risk and simplifying adherence to evolving regulatory frameworks.
- The partnership with Salt Edge equips Tradu with robust consent management tools, promoting transparent handling of user permissions and aligning with best practices for data privacy and security.
- By leveraging Salt Edge's solution, Tradu can enhance its customer experience by offering real-time access to verified financial data and streamlined payment processes, leading to personalized insights, faster transactions, and improved trading experiences for Tradu users.
