The Santander Open service, introduced in Poland in recent weeks, has been created in cooperation with the banqUP platform. 

The EU PSD2 directive has increased safety of online bank service users. It has also enabled the development of new services - the most popular one in Poland being multi-banking, allowing the display of accounts from different banks in one user profile of electronic banking. It is already being offered by several banks - incl. Millennium or Alior. In June, Santander Bank Polska joined them with its Santander Open service.

- Cooperation with banqUP allowed us to implement a service that allows access to accounts in other banks. Joint contribution and persistence in striving to achieve the goal allowed us to finally launch a service that changes the market - says Dariusz Paczewski, digital & innovation leader Santander Bank Polska. He adds that thanks to the software provided by banqUP, Santander Bank Polska can quickly add other banks to the service, also from outside the Polish market.

 How does Santander Open work? Thanks to the service, the customer can view accounts at banks other than Santander Polska from the level of the mobile application or online banking. In order to add a new account ran by another bank, select the appropriate option from the menu and accept the appropriate consent forms. The bank then transfers the customer to the login page of the bank to be visible in Santander Bank Polska. After logging in, you must authorize adding an account. When the client performs these simple steps, he is automatically transferred to the Santander Bank Polska online banking and the account from another institution is visible on the list of accounts. The customer can cancel the services at any time and easily disconnect the accounts that have been added.

- From our perspective, cooperation with Santander Bank Polska turned out to be exemplary. We are sure that the bank's customers will appreciate the new opportunities that they have received thanks to the implementation - says Anna Ciesielska, Chief Operations Officer and one of the co-founders of banqUP. She adds that the project was run really efficiently. At the time of the Santander Open launch less than a month ago, the list of banks available to Santander Bank Polska clients consisted of four companies. In recent days, their number has increased to five. The sixth bank is also being tested. - This shows how, thanks to banqUP, additional banks can be added instantly - says Ciesielska.

Open banking not only for the chosen few

The open banking platform developed by banqUP allows clients to easily integrate with banking systems and thus get access to data from different bank accounts. This in turn enables banqUP and its partners to provide new services, such as bank account integration, creditworthiness assessment, identity confirmation, and support for SMEs in liquidity management.

BanqUP now provides access to all major European banking API standards from 19 European markets. The company, as the second entity in Poland, received the AISP license from the Polish Financial Supervision Authority (KNF).

In addition to working with banks, BanqUP also offers TPP-as-a-service to fintechs and other technology companies for which applying for a TPP license is too time-consuming or simply unnecessary for business reasons. TPP-as-a-service enables such entities to access aggregated banking data via the banqUP platform, which allows innovators to work on solutions using open banking quickly, without the need to obtain licenses and the need for independent integration.