Sector : FinTech
Solution : Instant payment

Discover our Open banking use case: bank account aggregation for Digiteal. Facilitating real time payment and invoicing.

Setting up the challenge

Digiteal is a pan-European PSP, focused on bringing the most cutting-edge and innovative solutions to their customers and partners. Naturally, this included offering an Open Banking solution tailored towards the needs of their clients: instant pay-ins and instant pay-outs

Key project milestones

• A need was identified to offer Open Banking to their clients, and as such Digiteal went through the regulatory process to obtain their PSD2 licenses , which allow them to offer Payment Initiation and Account Information Services.

• Once this step was completed, they had the option to connect to each bank individually through API’s or use the help of an aggregator such as Exthand. After analysing the project, it became clear that building every API connection in-house was going to be an expensive and time-consuming endeavour.

• They needed to find a partner that could supply them with the coverage of countries needed, that had reliable API’s, that was not competitive to their solution and that had a solution for licensed companies that wasn’t hard to implement.

The solution: White label by Exthand

After contacting a multitude of providers, Digiteal chose Exthand as their preferred Open Banking partner. Exthands’ solution allowed Digiteal to retain control of data sovereignty and security by using a dedicated Docker container. They tested the product without any costs until they were confident that they could go live with their product and launched an AIS based project with a client. It was very important for them that their supplier could treat payments in less than 10 seconds, and Exthand delivered this solution. This was a successful client case for Digiteal, and they decided to roll out multiple projects with different clients, both for instant payments as well as access to real -time data.

Achieved results