Smart Fintech, the first third-party provider authorized by the National Bank of Romania for payments through Open Banking technology, launches the analysis regarding the evolution and degree of adoption of Open Banking in Romania.

Based on the interviews with various companies, this technology has the potential to decrease up to 80% of their accounting operations. However, it is still in its early stages in the Romanian market and faces several challenges, such as banks openness, legislation, and the lack of financial and digital education among users.

During the last year, the number of Smart Fintech partners increased by 142%, and the average transaction value increased from 200 lei to 500,000 lei.