We’ve partnered with Salt Edge to expand our open banking capabilities in the EU and the UK, helping businesses connect to more banks and automate financial workflows.
Check out the features of Bankfeed.
We have partnered with Salt Edge, a leading open banking solutions provider, to deliver a more powerful and reliable way for SMBs across the EU and the UK to manage multi-bank financial operations.
Managing multiple bank accounts often comes with fragmented data, time-consuming reconciliation, and limited visibility into available funds. These challenges not only increase operational workload but also raise the risk of errors and payment delays. We address these issues by automating bank statement imports, payment recognition, and invoice reconciliation directly within Microsoft Dynamics 365 Business Central.
By integrating Salt Edge’s Data Aggregation and Data Enrichment solutions, we connect to over 2,700 banks across Europe and the UK via their API. Alongside our other aggregation partnerships, this brings Bankfeed’s total coverage to over 12,300 financial institutions – giving our customers unmatched connectivity. This enables real-time access to account balances and transactions, enriched financial data, and a more streamlined reconciliation process, helping finance teams reduce manual work and make faster, more informed decisions.
“Our mission at Bankfeed has always been to eliminate unnecessary manual work for accountants and replace it with reliable automation. Partnering with Salt Edge allows us to scale that mission further. By leveraging their APIs, we’re expanding bank connectivity, improving stability, and laying the groundwork for advanced features like bulk payments. This means our customers can connect more banks, automate processes, and operate with greater confidence and efficiency.”
— Povilas Safranauskas, Partner Manager at Bankfeed
Additionally, real-time access to bank data allows our users to identify and address potential payment issues early. This helps reduce failed transactions, improve customer experience, and ensure smoother payment operations overall.
“The partnership between Salt Edge and Bankfeed provides accounting platforms and ERPs with secure, standalone API connectivity, enabling them to leverage open banking as a strategic advantage for growth and efficiency. By combining Salt Edge’s AIS with Bankfeed’s AI-powered automation in Microsoft Dynamics 365 Business Central, companies gain a real-time overview of their financial data, faster and more accurate reconciliation, and a streamlined process where transactions are automatically matched, allowing finance teams to spend far less time on repetitive tasks.”
— Virgiliu Bodrug, Pay by Bank Expert at Salt Edge
Looking ahead, we plan to integrate Salt Edge’s Pay by Bank capabilities, enabling businesses to initiate secure bulk payments directly from Microsoft Dynamics 365 Business Central. This will unlock new automation opportunities and further streamline financial workflows for companies handling high transaction volumes.
Salt Edge is a financial API platform with PSD2 and open banking solutions for every business. The company has two main vectors of activity: enabling third parties to get access to bank channels via a unified gateway and developing the technology necessary for banks to become compliant with the directive’s requirements. ISO 27001 certified and AISP licensed under PSD2, the company employs the highest international security measures to ensure stable and reliable connections between financial institutions and their customers. The company is integrated with 5,000+ financial institutions in 50+ countries. Salt Edge has been named a Strong Performer in The Forrester Wave™: Open Banking Intermediaries, 2023 Report.
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Hello, I found this Dynamics 365 Business Central add-on that would save me tons of time by automatically importing bank statements and matching payments with invoices. It has certain technical requirements like an up-to-date Business Central version and banks that comply with the PSD2 open banking protocol. Could you please check the requirements and let me know if we are able to use the Bankfeed app? The requirements are here: www.bankfeed.com/faq/, or you may contact the add-on’s developers at [email protected].
Bankfeed works as an add-on for Microsoft Dynamics 365 Business Central. Therefore the usage of this ERP system is necessary. The solution works best with the three latest versions of Business Central. Before installing Bankfeed, we recommend checking if the following conditions are met: 1. Open banking API (PSD2) is not occupied. If you use online payment provider services (Wordline, Wordpay, etc.), they might be connected through an open banking API. Therefore, Bankfeed will not be able to connect to this API as it is already occupied. In these situations, we can connect Bankfeed through the bank’s direct API, known as a Gateway. However, it usually requires additional banking fees and additional implementation hours. 2. Banks provide the information required for recognition and reconciliation. Even though open banking is regulated using the PSD2 protocol and is mandatory for all EU banks, the banks treat these requirements differently. The amount of information provided through the APIs and its quality can differ depending on the bank. This can lead to a situation where Bankfeed will not be able to properly identify customers/vendors or documents because of the lack of data. Here is a list of mandatory bank fields needed to enable Bankfeed’s payment recognition and reconciliation. Please check HERE if the banks you are using provide the information from these fields:
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