Open banking solutions provider Salt Edge has formed an alliance with Thought Machine to offer open banking SaaS solutions. 

As part of the partnership, Salt Edge will integrate its solutions with Vault Core, the core banking engine of Through Machine.

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The open banking solutions will be offered on Vault Core Open Banking Compliance, Account Information, Payment Initiation, White Label PFM, and Mobile SCA.

The integration will allow clients to access Salt Edge’s open banking solutions via Vault Core as well. 

Salt Edge business development manager Iulian Mitrea said: “With the end-customers’ best interest in mind, we are happy to be contributing to businesses’ development with our open banking solutions. 

“Thought Machine and we see eye to eye when it comes to delivering enhanced digital experiences while sustaining these companies’ competitive edge, and joining the Integration Library is an important step towards it.”

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Currently, Salt Edge’s Open Banking Compliance is available to financial institutions from Europe, the UK and Australia. 

The technology vendor plans to launch its offering in Saudi Arabia and other markets. 

Thought Machine general manager North America and global MD partnerships Bradley Steele said: “We have selected Salt Edge to be part of our first cohort of partners featured in the Integration Library due to its world-renowned high standards of security, adjustability to the clients’ expectations, and experience in open banking. 

“With access to this integration, our clients can seamlessly access Salt Edge’s expert solution at a reduced cost and accelerated speed.

The announcement follows Thought Machine’s $160m Series D funding round, which valued it at a $2.7bn.