Klarna Kosma will provide its open banking platform to enable Airbank to access the world’s largest network of banks, and help advance its expansion into Europe and further markets
Airbank selects Klarna open banking platform. (Credit: Alejandro Escamilla on Unsplash)
Germany-based digital financial management platform Airbank has teamed up with Klarna Kosma, a unit of Swedish fintech company Klarna, for the latter’s open banking platform.
Klarna Kosma provides a financial technology platform for banks, fintechs and retailers who are developing payment services to develop their own solutions.
It is claimed to process nearly one billion bank account information requests per annum and is the world’s most comprehensive open banking platform.
Under the collaboration, Klarna Kosma will provide Airbank with access to the world’s largest network of banks and help advance its expansion into Europe and further markets.
Klarna Kosma VP Wilko Klaassen said: “The market for fintechs focused on SMEs harbours enormous potential for growth. Yet, hardly any open banking providers are addressing their needs.
“We are proud to empower Airbank to make the leap to a global stage with our proven API and help to drastically simplify financial management for SMEs around the world.”
Airbank is a new-generation finance operations platform that enables businesses to consolidate all their bank accounts and financial data into one place.
It enables SMEs and start-ups to monitor their business accounts in real-time, automate their bill management and make payments through the portal.
Klarna Kosma’s open banking platform will provide Airbank with access to account information from 15,000 banks in 26 countries worldwide, through single API integration.
The expanded market coverage from the collaboration will support Airbank’s rapid global expansion and opens up its platform to SME customers worldwide.
Recently, Airbank has raised a $20m funding round to support its expansion plans.
Airbank founder and CEO Christopher Zemina said: “By the end of this year, we will serve over 50 countries, making Airbank the most comprehensive global banking solution for SMEs in the industry, with the ability to connect bank accounts from almost anywhere in the world.
“We are delighted to have Klarna Kosma as an experienced and dynamic partner that shares our ambition to shape the future of B2B financial management.”