STOCKHOLM, March 3, 2021 /PRNewswire/ -- Klarna, the leading
global payments and shopping service, today announces the expansion
of its leading Open Banking solution across eight more European
countries, including Portugal, Denmark, Luxembourg, Ireland, Croatia, Estonia, Lithuania and Latvia. Klarna provides the largest open
banking network in Europe,
supporting a total of 24 countries in the continent, with up to 99%
and a minimum of 90% bank coverage across markets.
Klarna's Open Banking solution which today processes more than
150m+ transactions per year, offers third party providers
simplified access to consumer bank account data via `Account
information' (AIS) and `Payment initiation' (PIS) services in line
with Payment Services Directives (PSD2). The secure solution allows
consumers, wishing to elevate the potential of their financial
data, to better understand and engage with their finances in a more
meaningful way.
As part of the latest expansion, Klarna also introduces `Account
Insights' a powerful new solution that turns simple bank statements
into unique insights through categorization and data enrichment.
These insights can enable a variety of use cases including
personalized budget plans, insurance checks, loan applications,
credit- & risk assessments, personal finance management
applications, and many more, all through a simple API
integration.
"Since we launched our Open Banking Offering in March 2019 our growth trajectory has been
tremendous. That's why we're excited to launch in 8 more markets
today and expand our product offering even further, as we continue
to lead Europe's Open Banking
industry covering more than 6.000 banks across 24 countries. The
ability to empower consumers through financial data should not be
at the discretion of a single provider but open to many providers
so that more solutions can be developed that put the customer at
the centre of their personal finances," says Koen
Köppen, Klarnas Chief Technology Officer.
Klarna's XS2A API is the most established and proven solution
that has been developed at scale across markets for more than 15
years. Across markets, Klarna has a superior PIS conversion rate
from the login to successful completion of the flow. The Klarna
Open Banking Platform also provides developer friendly tools and
technical solutions to help solve both the compliance and UX
aspects of managing credentials and to overall help drive an
accelerated time to market for products while minimizing costs and
technological investments required.
Note to editor:
Open banking market availability in Europe: Austria, Belgium, Croatia, Czech
Republic, Denmark,
Estonia, Finland, France, Germany, Hungary, Italy, Latvia, Lithuania, Luxembourg, the
Netherlands, Norway,
Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, Ireland, and the UK.
About Klarna
We make shopping smoooth. With Klarna consumers can buy now and
pay later, so they can get what they need today. Klarna's offering
to consumers and retailers include payments, social shopping, and
personal finances. Over 200,000 merchants, including H&M, IKEA,
Expedia Group, Samsung, ASOS, Peloton, Abercrombie & Fitch,
Nike and AliExpress have enabled Klarna's innovative shopping
experience online and in-store. Klarna is the most highly valued
private fintech in Europe with a
valuation of $10.65 billion, and is
one of the largest private fintechs globally. Klarna was founded in
2005, has over 3,500 employees. For more information, visit
klarna.com.
Contact
Daniel Byrne
press@klarna.com
+46701612666
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