Finnish FinTech Enfuce approved as an authorized payment institution

Source: IBS Intelligence 2020-06-05

Finnish FinTech Enfuce announced today that it has been accredited as an authorised payment institution by the Finnish Financial Supervisory Authority. This accreditation will allow the FinTech’s customers to perform account information and payment initiation services with Enfuce.

“Becoming an authorised payment institution is a major milestone for us. We can now serve an even wider group of customers and drive our vision of open banking for everyone,” said Denise Johansson, CEO and Co-Founder at Enfuce.In addition to delivering effective connectivity to our existing licensed customers with our Open Banking Hub, we can now introduce the same service to other customers. We manage the regulatory compliance and technical connectivity, letting our customers focus on designing the service experience and branding.”

The FinTech’s Open Banking Hub enables customers to retrieve bank account information and enable payment initiation for end-users’ bank accounts. The account information service provides access to a new set of data which has not been available before, and the payment initiation service can be integrated into existing payment processes in mobile apps and e-commerce sites.

Recently, Enfuce entered into a partnership with Mobility-as-a-Service provider, MaaS Global today. The collaboration will enable the company to launch a card payment offering within MaaS’ mobility app, Whim. Swedish neobank Rocker also selected Enfuce as its partner for card issuing and payment processing.

Finnish FinTech Enfuce approved as an authorized payment institution

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