Exthand provides a secure open banking aggregation and payment solution that connects applications to banks worldwide, enabling instant access to bank transactions and balances. The platform offers customizable APIs for seamless integration, allowing businesses to manage payments and account information while maintaining control over data security and user experience.
Funding
$660.1K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many applications struggle to securely connect to banks worldwide for accessing transaction data and initiating payments, often facing challenges related to data standardization, regulatory compliance, and maintaining control over security and user experience. Existing solutions can be complex, lack customization options, and introduce intermediaries, increasing costs and reducing transparency.
Solution
Exthand provides a secure and customizable Open Banking solution that enables applications to connect to banks globally for instant access to bank transactions and balances. The platform offers a developer-friendly API that simplifies integration, allowing businesses to manage payments and account information while maintaining complete control over data security and user experience. Exthand's solution standardizes data from different banks, eliminating the need for developers to handle inconsistencies. By offering a dockerized solution, Exthand ensures that transactions are only accessible to the client, providing enhanced security and scalability. The platform supports various use cases, including online payments, IBAN checks, data enrichment, KYB/KYC processes, and confirmation of funds.
Target Audience
Exthand's primary customers are businesses in payments, consulting, AML, KYC, insurance, lending, credit, and retail industries that require secure and reliable access to Open Banking data and payment functionalities.
Features
- Secure API for accessing bank transactions and balances worldwide
- Dockerized solution for enhanced security and control
- White-labeled solution for seamless integration into existing ecosystems
- Easy data standardization across different banks
- Support for instant payments, bulk payments, and variable recurring payments (VRP)
- Connection with over 2,300 banks in the EU and UK
- Backup licenses for guaranteed permanent transaction flow
- On-premise deployment option for data sovereignty