Banca Transilvania, increasingly ready for collaboration with fintechs: launches the BT Open Banking platform

Banca Transilvania launches the BT Open Banking platform (BT Api Store), which allows fintechs and other technology companies to test the integration with BT, in order to present the bank's services, such as: displaying online balances, transaction history and initiating transactions through external platforms to Banca Transilvania.

PSD2 is a first step towards Open Banking and is a mandatory European directive for banks in Romania, in the direction of significant development of banking services. This involves creating a single market for payments at European Union level, facilitating access to the banking market for new plays from other industries, creating the platform for SEPA payments, as well as protecting the right of consumers to make payments.

"Open Banking is the new way of doing banking. From now on we have the opportunity to integrate other actors, such as fintechs, into the BT ecosystem, which will bring a superior digital experience for customers, with new ideas being able to be implemented much faster than ever before. Fintechs help us keep up with new challenges and requirements, with new technologies, but also with the competition that comes from other fields" - says Mariana Chindris, Digital Transformation Coordinating Director, Banca Transilvania.

The testing phase is until September this year, after which the final version of the platform is launched. Over the next few months, the bank will add other services. The BT Open Banking project was fully realized by the IT and Digital team of Transilvania Bank, in collaboration with the IBM solution provider and it Smart Systems.

BT encourages digitalization by collaborating with fintechs

Banca Transilvania has experience in collaborating with fintechs, with which it brings close to its clients a series of financial solutions for better money management and support of entrepreneurs:

• BT collaborates with Personetics, the market leader in cognitive banking applications, to deliver a superior digital experience to BT customers by incorporating artificial intelligence into its services. The cognitive banking application offered by Personetics will be integrated with the new versions of Internet Banking and Mobile Banking of the bank, which will be launched in the first half of this year.
• BT became a shareholder of Timesafe, the developer of Pago, the only application in Romania through which the payment of utility bills can be made, by card, from a single account.
• The partnership of Banca Transilvania with Ebriza, BT being the main investor in a financing round of 300,000 euros launched by it. Ebriza digitizes business administration and totally transforms what the cash register means now, the sales and management software: they will be accessed online, non-stop, from any device, tracking in real time the company's activity, stocks and sales.
• Collaboration with Blugento, a company specialized in providing eCommerce solutions, so entrepreneurs have the opportunity to open their own online store in maximum 3 days, based on a monthly subscription. 
• BT's partnership with Smart Bill, the market leader of online invoicing and management solutions, which offers a suitable solution for all businesses for issuing, delivering, collecting invoices, notices, proformas, receipts, inventory management, etc.