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Klarna launches open banking 'autopilot'

Klarna launches open banking 'autopilot'

Klarna's open banking unit, Klarna Kosma, has unveiled an initiative to help startups develop Proofs of Concepts in the e-commerce, data analytics and fintech space.

The "autopilot" initiative will let a selection of startups as well as more established firms access all the Klarna Kosma products and 15,000 banks for three months, free of charge.

Klarna says it hopes this will accelerate open banking innovation by providing players in the space with a zero-cost product development ‘sandbox’ built on the world’s largest bank aggregation platform.

Wilko Klaassen, VP, open banking, Klarna, says: “Open Banking was introduced to wrest control of consumer data away from the big banks and make it securely available to drive innovation.

“With that data accessible through simple APIs, with consumers’ permissions, a whole new vista of potential use cases has opened up. The initiative we are launching today aims to add rocket fuel to the innovation process.”

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