SEB clients were the first to receive wider possibilities to manage their accounts
As the first ones in the market, SEB is today allowing, with the consent of the client, to display their account information in the internet banks of other banks. This is also possible in the environments of third parties who hold a respective licence, if the latter have a working technical solution for it.
"SEB believes in open competition and the rights of people to use their information exactly as they wish. The secure display of bank account information in the solutions of other banks and licensed fintech businesses allows one to create new financial services which enrich the financial market and expand the possibilities of clients. We are convinced that open banking changes the financial world and the goal of SEB is to be at the forefront in implementing these innovations by also encouraging other banks and service providers to do so. The first open banking solution in Estonia is opened today by SEB for clients who use the services of many banks in Estonia. Unfortunately, we are not yet able to display the client accounts in other banks in SEB’s internet bank because as far as we know, the other market participants have not opened technically working access to accounts yet. I hope it will happen in the near future in order to offer equal possibilities to all clients for the use and management of their account information," noted the SEB Board Member and Head of Retail Ainar Leppänen.
Since 14 June, SEB has tested the solution with licensed banks and fintechs, which allows SEB clients to view their account information and carry out transactions from their accounts in the environments of third parties in addition to their home bank, if they find it necessary. The first cross-usage possibility became available for SEB clients last week through the internet bank of SEB and today, this possibility has been used by almost 500 clients.
Reference to an earlier related press release: This autumn, SEB bank will provide an opportunity to manage other banks’ accounts within SEB’s internet bank.
