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Friday, December 8, 2023
HomeNewsSmart Valor Partners with Finnish Open Banking Platform Enable Banking

Smart Valor Partners with Finnish Open Banking Platform Enable Banking

Digital asset exchange SMART VALOR has entered a cooperation with Finland-based Enable Banking to provide instant purchase of cryptocurrencies via bank transfer.

Together with Enable Banking, we are taking the next step towards future-ready payments. Enable Bankings innovative solution will allow us to connect our digital asset exchange to 1,000+ European banks. Through this partnership, we can significantly accelerate money transfers for our customers. They will receive their crypto right after the bank wire has been created. No need to wait days for approval processes to be finished.

From this symbiosis of traditional banking and fintech innovation, all customers who want to conduct crypto brokerage via bank transfer gain enormous benefits: Its a secure, easy and very fast way to buy crypto, without any additional fees. By buying assets in real-time, our customers can also react immediately to market movements and thus optimise their trading and investing strategies.

For SMART VALOR, it has always been an important objective to offer intuitive, modern functionality while ensuring maximum security. By connecting to Enable Bankings open banking platform, we can link our exchange to our customers’ banks without having to build and operate additional expensive infrastructure.

Thomas Felber, CTO and co-founder of SMART VALOR:

“Using a credit card to buy cryptocurrencies is very easy and convenient. However, credit card providers sometimes charge high fees. With bank transfers, even large amounts can be transferred almost free of charge. So, with this solution, we combine the speed of the credit card network with the cost efficiency of a bank wire transfer. Once customers have sent the money, the cryptocurrency is immediately credited to their SMART VALOR account. Currently, more than 1,000 European banks are already supported. This number is constantly increasing.”

Open banking is one of the big topics of our time and will fundamentally change the financial industry. Cooperations like this are an important part of SMART VALORs future-oriented business strategy. At the same time, we can already today offer our customers excellent service and a positive, comprehensive experience.

Fedor Tyurin, CTO and co-founder at Enable Banking states:

“Adoption of Open Banking in Europe is rising and we see a growing variety of use cases enabled by PSD2. With Enable Banking API innovators like SMART VALOR can focus on bringing new features to their customers and building value-adding services. Our connectivity engine eliminates complexity associated with the need to support hundreds of different integrations and helps our partners (both licensed and non-licensed) to scale their business across Europe.”

About Enable Banking:

The Finland-based company offers connectivity software that allows connecting with every European bank without 3rd party services. Enable Banking is ISO/IEC 27001 certified and regulated by Finnish Financial Supervisory Authority, ensuring the highest security standards and compliance now and in the future.

Chris Crespo
Chris Crespohttp://nordicfintechmagazine.com
Chris is a Founding Partner and Chief Editor at Nordic Fintech Magazine, where he simplifies complex financial ideas into easy-to-understand content. With a over 15 years of experience in Management Consulting and financial services, including collaborations with some of Europe's largest banks, he offers profound industry insights. Previously serving as the Chief Futurist at the largest bank in the Nordics, Chris is at the forefront of the Future of Financial Services, Money, Disruption, and Ethical AI in Finance. He is also a guest lecturer at Stanford University, Singularity University and Copenhagen Business School, where he frequently discusses the future of Money, Finance, and Entrepreneurship in Financial Services. As a Behavioral Economist, Chris is passionate about studying how human behavior and decision-making relate to risk. He also delves into the connections between psychology, leadership, and technology within financial services.