As we know, the technology and services for open banking have been around for a long time, but it has still required technical competence and strength to take advantage of the product offerings available on the market. That is until now – Finshark, Swedish based open banking company and a Fintech Farm member, is launching their new platform, Streams™, today.
Streams promises to be the first ever plug-and-play application for payments, checkouts and account information based on open banking – in other words allowing businesses to utilise the possibilities offered with AIS and PIS through the banks open APIs without having to bother with the acronyms.
But what exactly does Streams bring to the market? The list of features include single and recurring payments from private and business accounts, instant payouts where the end-user gets full control, income verifications with the tap of a button, debts and risk propensity for loan evaluations, account insights, and easy to use payment and authorization flow for end-users.
While the features offered are not unique by themselves, Finshark has focused on the usability and making things easy for the businesses – by removing the need for code and integrations.
“What’s unique is not the bank integrations or the features themselves. It’s the ease of use! Our team has fought hard, so you don’t have to. We’ve taken all those integrations, bank connections, and licenses and made them accessible for any business, technical or not. It’s a big shift in fintech and open banking!” says Adnan Sporo, CEO of Finshark.
Bekir Busatlic, Finshark CTO adds: “Even if we love working tightly with our customers tech teams, we also realise that it’s a possibility for a limited few. With Streams, our team takes full responsibility for all the tech stuff, so the customers can focus on doing business.”
We’re also happy to report that Streams will be available in Finland.
“We’re really excited to bring Streams to the Finnish market as well. We know how fond you are on banking payments already, and with Streams and our payment flow, it’s going to be even better!” says Adnan Sporo to Fintech Farm.
Finshark is an open banking company unlocking payments and financial data products for all businesses. By removing friction from the legacy processes behind payments, checkouts and within the financial services industry, it powers the breeziest customer experiences in finance.