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Banca Transilvania launches BT Open Banking platform dedicated to fintech companies

Fintech companies and start-ups in IT can test the new BT Open Banking platform (BT Api Store), launched by Banca Transilvania, for online integration with banking services such as: display of online balances, transaction history and initiating transactions via external platforms to Banca Transilvania.

2019-03-18 22:22:54

According to a release of the bank, BT Open Banking is based on the European PSD2 directive. This is a mandatory European directive for the banks in Romania, towards the important development of banking services.

The development implies the introduction of an internal market for payments at the level of the European Union, the facilitation of the access of new and new industries to the banking market, the creation of the platform for SEPA payments and the protection of consumer rights to make payments.

"Open banking is the new way to make banking. We now have the ability to integrate into the BT ecosystem and other actors, such as fintech, which will provide a superior digital experience for customers, and new ideas can be implemented much faster Fintech helps us to keep pace with the new challenges and requirements, with the new technologies, but also with the competition coming from other domains," says Mariana Chindris, digital transformation coordinator, Banca Transilvania.
The test phase runs until September 2019, after which the final version of the platform is launched. The bank will add other services in the coming months.

BT Open Banking platform has been fully developed by the IT and Digital team at Transilvania Bank, in collaboration with IBM solution provider and IT Smart Systems. Banca Transilvania has long been working with financial IT startups (fintech) to bring customers a range of financial solutions closer together to better manage money and support entrepreneurs:
• BT cooperates with Personetics, the market leader in cognitive banking applications, to offer BT customers a superior digital experience by incorporating artificial intelligence into its services. The cognitive banking application offered by Personetics will be integrated with the bank's new internet banking and mobile banking, which will be launched in the first half of this year.
• BT became a shareholder of Timesafe, the developer pago, the only application in Romania that can be used to pay for energy bills with the card from one account.
• Transilvania Bank Partnership with Ebriza, BT is the main investor in a financing round of 300,000 euros launched by BT. Ebriza digitizes business management and completely transforms what is now a cash register, sales and management software: they will be monitored online, non-stop, on any device, real-time business activity, shares and sales are viewed.
• Co-operation with Blugento, a company that specializes in offering eCommerce solutions, so that entrepreneurs can open their own online store in a maximum of 3 days, based on a monthly subscription.
• BT partnership with Smart Bill, the leader in the online billing and management solutions market that offers solutions for all companies for issuing, delivering, collecting invoices, communications, proposals, receipts, inventory management, etc.

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