“Opening APIs is not enough, it should be easy to use them”, states the slogan of enable:Banking, one of our member companies. enable:Banking offers a software development kit that includes the library, documentation and tools which give the freedom to connect with every European bank within one’s own solutions without 3rd party services.
The company’s story started from an innovation by a group of developers. The current CTO and Co-founder Fedor Tyurin, who is originally Russian but was already living in Finland, started testing some integrations for fun with a bunch of other developers and made the first prototype. When he realised that there could really be a business opportunity in it, he called his former colleague Joonas Tomperi, the current CEO and Co-founder of the company to ask if he could also see the business case. A couple of months from that, both of them had quit their previous jobs and begun to take the business idea forward.
Right from the start, the e:B founders had ambition and motivation to go international since Finland seemed to be too small of a market for the business. Now e:B has expanded for example to Poland, which proved to be an interesting and innovative area for this kind of business. Poland was also chosen because of a great market testing opportunity offered by Business Finland.
Aiming for a sustainable business ecosystem and stronger internationalization
A couple of weeks ago, enable:Banking took part in an Open Banking Hackathon in Poland as a community partner. The event brought together developers, students from the Polish and CEE region universities and representatives of the payment sector – banks, payment institutions and IT companies in order to come up with new IT talents, and to promote open banking solutions based on PolishAPI, i.e. standard of the interface for the needs of services provided by third parties on the basis of access to payment accounts. More about the event here: https://openbankinghackathon.pl/
e:B provided the hackathon with a special prize of 2 000 PLN to a team making the best use of enable:Banking software development kit. The winner was team Dropdatabase group for the best integration with their interface.
“We chose to be a community partner in this hackathon, because we want to help the ecosystem to evolve and get everyone in the value chain (between a bank and the end customer) involved. That is the only way to build a sustainable ecosystem: ensuring that everyone in it can make profit. This was a natural way for us to do some good”, CEO Joonas Tomperi sums up.
Tomperi also reveals that e:B has strong internationalization plans in the future, too. Next year, they are going to integrate to all the main banks in Europe to cover most of the end users in the area. They are also mapping the markets in all the Nordic and Baltic countries, rest of Poland, UK and e.g. Romania, too. The company is currently actively looking for especially OEM partners.
”We see enable:Banking SDK as Formula One tires ensuring the best grip on Open Banking road. So our customers, as Formula One teams, can focus on building world leading solutions and providing supreme experience to the end-users ”driving” them. This analogy comes from the fact that while tires are extremely important, none of the car manufacturers are making those themselves”, explains Fedor Tyurin, the CTO & Co-founder of enable:Banking.
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