Epiphany teams with Kaleyra to launch Italy’s first open banking hub

Digital banking solution builder Epiphany and mobile messaging solution for banks Kaleyra have launched Italy’s first open banking hub.

The new hub will allow banks to quickly innovate and deploy open banking compliant apps.

Kaleyra’s clients will now be able to get access to Epiphany’s apps like Instapay, Account Aggregation and InstaCredit to provide their customers open banking services.

By working together, the company hope to combine communication services and apps so banks can take advantage of open banking opportunities through direct engagement.

Kaleyra is a mobile messaging service for financial institutions, providing them technology to offer messages, push notifications, email, instant messaging, voice services and virtual assistants.

With the new partnership, its can access InstaPay, an instant payment service through mobiles, Account Aggregation, a real-time information for credit scoring and marketing, and InstaCredit, a real-time microcredit solution which uses machine learning to define credit scores.

In a joint comment, Kaleyra managing director Alex Milani and Epiphany CEO and founder Paolo Spadafora said, “Following the implementation of PSD2, banks now need to ensure they are in position to offer competitive services to improve the consumers’ experience: from safe and quick transactions via mobile, to the access of small loans, to the transfer of p2p money whilst you chat.

“It will also help to integrate services such as the purchase of plane tickets and booking of car sharing. Open banking is an opportunity that on European scale is worth more than 60bn euros, having an impact on the level of investments in Italy that will exceed 3.5bn euros, with a focus on products in the lending area (55% of the value generated), digital payments (15%) and bank accounts (20%).”


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