The key to efficient financial management
Access to financial data
Companies that want to implement multibanking face considerable challenges when it comes to accessing financial data. One of the main problems is the implementation of the PSD2 directive, which requires strong customer authentication (SCA). This leads to complications as each bank interprets the regulation individually and requires different combinations of authentication factors. For multi-banking users, this means increased effort as they need separate TAN generators, biometric procedures or apps for each bank account. In addition, following the PSD2 changeover, some banks have restricted access to FinTS APIs for multibanking applications or temporarily switched them off completely, which makes it more difficult to query account transactions.
Available in the following countries:
Germany
Austria
Iberia
200+
Happy customers
700h
Resources and time saved working with us in average
3,000+
connected financial Institutions
Challenges
Frequent hurdles with the multibanking concept
Technical complexity
The integration of data from different banks and financial institutions is technically challenging, especially with different interfaces and standards.
Real-time data access
Delays in accessing financial data can affect decision-making and user experience.
Security and compliance requirements
Regulatory requirements such as PSD2 and strong customer authentication (SCA) increase complexity and require secure data transfers.
Data analysis and value generation
Organisations can struggle to gain valuable insights from financial data.
Scalability and future-proofing
Many multibanking solutions are not flexible enough to serve future requirements or new markets.
Efficient and compliant multibanking with Qwist solutions
Our financial transaction data solution provides seamless access to harmonised data from over 3,000 institutions in Germany, Austria, Spain and Portugal. Users can link one or more accounts via an intuitive process, giving them a comprehensive 360-degree view of their financial status.
What Qwist solutions can do for you
Real-time overview of the end user’s financial situation for a flexible time horizon
Ready-to-use data aggregations based on various parameters. No need for extensive data compilations – we provide aggregated financial data based on various flexible parameters that can be used by the next multibanking application
Harmonised view of all users’ financial data – We harmonise all end-user financial sources, regardless of account type or financial provider. This enables customers to create a standardised, user-friendly multibanking application that fits any financial situation.
Our product suite is highly flexible and modular, so that each product can be used on its own or in combination with the multitude of other products we currently offer.
Why Qwist?
- + 3,000 financial service providers beyond PSD2
Standardised real-time data from more than 3,000 financial institutions. - + 365 days of valuable insights
We provide harmonised transaction data for every available transaction history that our connected banks support. New transactions are automatically retrieved up to 4x per day. - Plug & play & always up-to-date
Our API can be easily implemented and automatically retrieves new transactions from the bank up to four times a day, without the end user having to intervene.
