Product news
Jan 25, 20212 min read

Klarna Open Banking goes live in the UK

Elias Pitsavos

by Elias Pitsavos

 

Open Banking has made landfall. 

Following Klarna’s recent partnership with UK cross-border money transfer provider, Kaoshi, we’ve opened the doors to secure access to data and financial innovation for Britain’s big banks, FinTechs and third-party providers.

Teaming up with Kaoshi to expand the Open Banking Ecosystem

Kaoshi are on a mission to connect banks and financial institutions to the diaspora. They deliver a finance platform that aggregates financial services allowing banks to directly market and sell financial products and services, as well as process payments for service delivery.

Our Account Information Services (AIS) and Payment Initiation Services (PIS) combined with our front end design open up new opportunities for Kaoshi to test, build and launch game-changing financial services backed by enriched data.

Our single API provides Kaoshi with the means to create an end-to-end user experience in line with PSD2 requirements, so that everyone has peace of mind that security, compliance and the ability to collect, handle or process bank account information is never compromised.

New Opportunities for Britain’s FinTechs Await

Klarna Open Banking’s emergence in the UK is further evidence that Open Banking is thriving. Our service is already available in 16 countries across Europe, covering more than 5000 banks and FinTechs across the continent. And those numbers only continue to grow.

After navigating the uncharted waters of 2020, we’re thrilled to be kicking off the new year on a high as we continue to grow our Klarna family. We know all too well how energised Kaoshi are to revolutionise the future of digital payments, and we can’t wait to play our part.

Where to next we wonder?

Experience the Klarna Way

Visit Klarna Open Banking to learn more about Open Banking  to find out how it all works. Let’s connect and get started.