Open Finance extends the concept of Open Banking by providing customers with accessto their financial data across various services and platforms. This includes fintech apps for investment, retirement, and savings, as well as accountingsystems.

Aritma's Open Finance Platform connects ERPsystems, banks, and Payment Service Providers (PSPs) for businesses. This integration enables seamless data exchange between financial systems, allowing businesses to automate transactions, streamline payment reconciliation, and enhance overall financial management across all platforms.

An API (Application Programming Interface) is an intermediary that allows two programs or systems to communicate with each other. A Banking API is a type of programming interface that enables applications to interact with banking services, such as retrieving account information or initiating payments. With Aritma's Open Finance Platform, you can use the Banking API to seamlessly integrate banking services into your applications. This provides easy access to financial data and functions, enhancing both efficiency and user experience. You can view a comprehensive list of bank integrations on our website here.

Financial data includes information such as transaction details, receivables, account specifications, and balances. By using Aritma's Open Finance Platform, you can connect to our banking API to gain easy access to a wide range of financial data. This integration allows you to efficiently retrieve and manage financial information within your applications.

An Open Banking platform provides access to banking services and account information via APIs, enabling seamless integration with third-party applications. Aritma's Open Banking platform can enhance your financial management by offering real-time data, automating payment processes, andi ntegrating financial services for improved oversight and efficiency.

On Aritma's platform, Open Banking  payments work by allowing you to connect to all banks through a single API,  making integration both simple and efficient. You can approve and reject  payments directly from the platform without needing to log into your online  banking. This reduces the time required to develop and launch your product  while providing real-time exchange of banking data. This solution offers a  seamless, secure, and efficient way to manage payments and banking data.

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PSD2, or the Payment Services Directive 2, is the latest version of the EU directive regulating payment services within the EU's internal market. As Norway is an EEA member, this directive also applies to payment services in Norway.

The goal ofPSD2 is to enhance competition in the payment market, promote innovation, strengthen security for online payments, improve collaboration between stakeholders, and harmonize regulation across the EU.

For Aritma's Open Finance Platform, PSD2 compliance ensures that the platform adheres to these regulatory standards, offering secure and innovative solutions that align with PSD2's objectives. This helps facilitate seamless integration with various financial services and improves overall financial operations and user experience.

Cloud-based financial solutions on Aritma's platform, which include both accounting services and financial management, offer a comprehensive approach to financial administration. By using these solutions, you gain access to an integrated platform that combines features for accounting, financial reporting, and real-time insights into financial data. This provides you with an efficient ,accessible, and streamlined method for managing financial processes, improving oversight, and optimizing decision-making.