Moldindconbank has teamed up with Salt Edge to comply with local regulatory requirements relating to open banking. According to the bank, the collaboration also underscores its commitment to delivering innovative, customer-centric services. Salt Edge’s full-stack Open Banking Compliance solution will enable Moldindconbank to swiftly meet the local central bank’s requirements. Moreover, it will empower its clients to access a comprehensive overview of their financial transactions through any regulated app of their choice.

The National Bank of Moldova is the local regulator and the institution supervising open banking reforms within the country. It mandated banks and other financial institutions falling under its scope to comply with the new requirements by February 2025. Once enacted, it will allow banks and fintechs authorised access to customer and business bank data to facilitate payments and offer banking information-related services.

Simplifying clients’ lives, streamlining service and enhancing security

Mihail Iovu, Deputy Chairman of the Managing Board at Moldindconbank, said: “Our commitment to leveraging technological advancements that simplify our clients’ lives, streamline service interactions, and enhance security is at the heart of our collaboration with Salt Edge, a reliable and trusted partner. Harnessing Salt Edge’s international expertise in regulatory compliance allows Moldindconbank to quickly comply with local open banking requirements while elevating our digital solutions, furthering our dedication to providing top-notch services to our clients.

Dan Martalog, Senior Open Banking Solutions Expert at Salt Edge, added: “As a leader in offering comprehensive open banking solutions for over ten years, Salt Edge is proud to assist Moldindconbank in meeting local open banking requirements and becoming the open banking frontrunner in Moldova.

“Salt Edge has been actively monitoring the country’s open banking path and engaging in consultations with local stakeholders. We are happy to assist one of the biggest Moldovan banks in becoming an even smarter institution that values its customers and tends to offer them innovative solutions to their ever-evolving needs. Open banking is not merely about complying with strict requirements. It’s an opportunity to enhance the entire country’s banking experience and boost local financial health. Salt Edge is delighted to put a shoulder to the wheel to help Moldindconbank achieve this significant milestone.”

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