Source: Salt Edge
Salt Edge, a leader in developing open banking solutions, enables UK fintech HyperJar to follow PSD2 requirements and provide new open banking capabilities.
Budgeting app and eWallet HyperJar helps people plan their spending by allocating money into multiple jars, using each of these mini-accounts for different spending purposes: groceries, coffee, kids’ clubs, nights out. Collaboration with Salt Edge will enable HyperJar’s full compliance with the PSD2 requirements, allowing its customers to securely connect their accounts to third party applications (TPPs) and have a full view of their HyperJar transactions.
HyperJar has chosen Salt Edge for fast and efficient implementation of the PSD2 regulatory requirements for interfaces. HyperJar’s PSD2 compliance implementation, built by Salt Edge, has a wide range of PSD2 required functionality including an API, secure connection of TPPs, TPP developer portal, TPP verification system, client dashboard, and much more. With the comprehensive documentation, TPPs can seamlessly integrate with the API of HyperJar. The communication is also handled for HyperJar by providing first-line support. Salt Edge takes care of all the technical matters, monitoring, and updates, enabling HyperJar to leverage open banking capabilities in the fastest possible way.
Salt Edge are experts in providing the essential regulatory services and know-how that mean we can rely on them for these services and we can focus on doing what we’re best at - creating world-first pay tech and brilliant UX for users.
Chris Lowrie, Chief Operating Officer at HyperJar
Customers of HyperJar will be able to get an aggregated overview of their financial transactions in any app they choose to use. HyperJar has a broad long-term open banking project to be accomplished in collaboration with Salt Edge: the first step is to become PSD2 compliant and offer TPPs access to users’ accounts; the second step is to provide AISP and PISP services from within the HyperJar app using additional Salt Edge services.
Salt Edge’s aim is to transform the financial market hand in hand with businesses that impact people’s lives like smart digital budgeting that makes it easier to plan expenses. We’re here to assist institutions like HyperJar to join the open banking ecosystem in a fully compliant way and offer new useful services for their clients.
Ilia Dragan, Head of PSD2 Compliance at Salt Edge