In 2022, Tuum, the core banking platform, and Salt Edge, a financial API platform with PSD2 and open banking solutions, partnered together to help European financial institutions get the most of open banking solutions. Now, in 2025, the two firms have brought a new partner into the fray: LHV Bank.
LHV Bank, a subsidiary of LHV Group, is a BaaS (banking-as-a-service) provider to over 200 customer-facing fintechs, offering retail banking products for individuals and flexible lending for businesses. To accelerate innovation and expand its offerings, LHV Bank chose to work with Tuum and Salt Edge to receive more value-added services through managing all core banking operations.
In working with the organisations, LHV Bank will be able to use Tuum to replace and handle its core banking system and Salt Edge to complement its digital core and ensure full compliance with the UK’s open banking regulations.
Marten Vill, product management domain lead, LHV Bank, said: “Open banking is an incredible opportunity but also a technical and regulatory puzzle. Salt Edge helps us solve that puzzle without spending years assembling all the pieces ourselves. This way, we can focus on delivering innovative banking services, not just ticking compliance boxes.”
Integrating open banking now
Instead of spending years developing a fully compliant API layer, the bank chose Salt Edge’s Open Banking Compliance product, a proven solution that integrated seamlessly with their banking core. The ready-made toolkit, management dashboards, robust TPP verification system, and compliance coverage will allow the company to focus on building better banking products.
Salt Edge and Tuum will ensure compliance and provide the bank’s clients with smoother and more secure access to open banking services, whether it involves aggregating accounts, making payments, or connecting with third-party financial tools.
Miljan Stamenkovic, VP sales, Tuum, added: “Our partnership with Salt Edge allows institutions like LHV Bank to unlock the full potential of open banking while remaining fully compliant from day one. By integrating Salt Edge’s compliance capabilities with Tuum’s API-first, modular core, we’ve created a future-ready foundation that enables LHV Bank to innovate rapidly, scale confidently, and deliver seamless experiences to its fintech partners and end customers.”
Andrei Scutari, open banking head of sales and country manager, Salt Edge, commented: “We’re happy to support LHV Bank with our comprehensive Open Banking Compliance solution, helping them meet the UK regulatory requirements, stay ahead of the curve and minimise the technical burdens.”
Iulian Mitrea, head of partner ecosystem, Salt Edge, said: “Our partnership with Tuum combines two complementary solutions that empower financial institutions like LHV Bank to develop a modern, compliant, and future-proof banking infrastructure powered by open banking.”
Source: https://thefintechtimes.com/
