Garri, good day. To start, could you tell us about Salt Edge, your recent initiatives, and what you have focused on this year?

Certainly! Salt Edge provides a range of solutions and services in the field of financial technology, with a primary focus on Open Banking services and data processing. The Salt Edge fintech solutions are designed to enable financial institutions, fintech startups, and developers to use innovative, secure, and user-friendly applications, financial services, and applications by leveraging open banking and financial information capabilities. This year, we have focused on expanding into new markets and strengthening our company's position. This includes allocating significant resources to enter markets such as Saudi Arabia and Jordan, where we see great potential for our services.

Can it be said that Salt Edge specializes in services related to Open banking?

At first glance and for most of our clients, that is indeed the case.

And in reality?

In reality, Salt Edge is involved in two things: "We provide API and we consume API." That means we work in two directions – we create APIs according to the regulatory requirements or client needs and provide tools for using already created APIs. It's important to understand that the world is moving towards an API-oriented economy, an economy of open access channels for market participants. Such an economy implies a professional service for creating and using relevant access channels. In the future, it will not only be about financial services; it is expected to encompass any business sectors, such as: commerce, insurance, healthcare, and many more. Thus, considering the diversity of approaches to API creation, there should also be API integrators, companies that create and provide this access. So, it can be confidently said that Salt Edge, as an integrator in the field of financial technology, is currently at the forefront of global business development.

We briefly touched on Salt Edge's expansion into new markets…

Entering new markets always comes with unique challenges. In Saudi Arabia and Jordan, we had to adapt to local rules, navigate cultural differences, and establish relationships with local financial institutions. However, these challenges are offset by the tremendous opportunities presented by these markets, as their populations grow, and the demand for digital banking increases.

What strategies did you use to make Salt Edge bigger and stronger in these new markets?

One of our key strategies was to collaborate with local partners and international companies already present in these markets. This allows us to gain insights into the specific needs and preferences of customers in these markets. Additionally, we invested in technology and infrastructure to ensure the reliability and scalability of our services. We are also actively addressing compliance and regulatory issues to facilitate smooth entry and operations in these markets.

Apart from your expansion into Saudi Arabia and Jordan, does Salt Edge have any plans to offer open banking services in other markets, perhaps even in Moldova?

Yes, we definitely have plans to provide Open Banking services in Moldova. In fact, we have already started negotiations with major banks in the region to establish partnerships and integrate our solutions. Moldova is an important market for us, and we see great potential in providing Open Banking benefits to customers and financial institutions in the country. This aligns with our broader goal – to make Salt Edge a global leader in Open Banking solutions, Open Finance, and API-oriented economy overall.