Today Kontomatik is happy to announce its expansion to another European Union member state – Italy. This country becomes the 10th geography covered by the Kontomatik Banking API.
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02.11.2016 Warsaw, Poland: Today Kontomatik is happy to announce its expansion to another European Union member state – Italy. This country becomes the 10th geography covered by the Kontomatik Banking API, next to the recently announced Portugal and already established 8 countries: Poland, Czech Republic, Slovakia and Spain in the European Union and such other rapidly growing economies as Russia, Mexico, and Brazil.
Why Italy? This country is a home for over 60 million of people, which makes Italy 4th largest country in the EU and 6th largest in Europe. Even though Italy has a significant number of banking institutions, covering a dozen of largest retail banks will be enough to provide bank account authentication to the largest part of the population. Next to this, Italian biggest banks, such as UniCredit, are present in most of the countries supported by Kontomatik. This makes entering Italy a less challenging task as the Kontomatik’s team already has experience in developing APIs for online banking interfaces similar to the ones employed by the banks in Italy.
The banking sector is quite strong in Italy, yet it is also very innovative. Such brands as Chebanca! clearly, show that Italian banking sector is pretty much open towards innovation and such technologies as banking APIs will be welcomed in this country even before the Payment Services Directive II comes into force. Also, with the availability of Kontomatik Banking API in Italy, banks will be granted a unique opportunity to adopt their services to the open-banking era ahead of time. Also, there are quite many Italian financial technology startups and companies within the online lending segment that could majorly benefit from the bank account data sets supplied by Kontomatik.
As Italy is the most recent market, Kontomatik’s new product, Financial Health Indicator, won’t be available in this country at first. It is planned to be released in the first half of 2017.