Enable Banking

High-Level Overview

Enable Banking is a B2B SaaS fintech company building next-generation open banking infrastructure for businesses across Europe. The company provides a single, developer-friendly API that connects to over 2,500 banks across 29 European countries, enabling partners to access real-time account information and payment initiation capabilities in a PSD2-compliant way. Its platform is used by lenders, accounting platforms, loyalty programs, and financial services providers to streamline onboarding, enhance credit risk models, automate cash flow insights, and reduce friction in financial workflows.

Enable Banking serves a wide range of industries, including lending, accounting, payments, and loyalty, by simplifying access to open banking data while ensuring data privacy and regulatory compliance. The company has achieved strong growth momentum, expanding rapidly across Europe, securing backing from Wellstreet’s Fintech Fund, and being recognized as Finland’s 5th largest fintech startup. With a partner-first model and a focus on non-intrusive, neutral infrastructure, Enable Banking is helping reshape how financial data flows between banks and businesses.

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Origin Story

Enable Banking was founded in Finland by Joonas Tomperi, a fintech entrepreneur with deep experience in financial connectivity and open banking. The idea emerged from the growing complexity and fragmentation of open banking ecosystems across Europe: each country has its own bank APIs, regulatory nuances, and integration challenges, making it difficult for businesses to scale pan-European financial products efficiently.

Tomperi saw an opportunity to build a unified, neutral connectivity layer that abstracts away the backend complexity of connecting to multiple banks and official ASPSP APIs. Starting with a focus on Finland and the Nordics, Enable Banking quickly expanded across Europe, connecting to thousands of banks and onboarding a growing network of partners. Early traction came from use cases in credit risk assessment and automated financial data retrieval, validating the need for a simple, reliable, and compliant open banking gateway. The company’s €600,000 funding round led by Wellstreet accelerated its growth and brought in high-profile talent like Sarah Häger, further strengthening its position in the European open banking landscape.

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Core Differentiators

• Single API, Pan-European Coverage: One integration gives access to real-time account data and payments across 29 European countries and 2,500+ banks, eliminating the need for multiple bank agreements and integrations.

• Neutral, Non-Intrusive Infrastructure: Unlike some competitors that build end-user products, Enable Banking focuses purely on infrastructure, empowering its partners to own their customer relationships and business models.

• PSD2-Compliant & Privacy-First: Built on official ASPSP APIs, the platform ensures compliance with European regulations. Data privacy is core to its design: Enable Banking does not store customer data, giving partners and end-users full control.

• Developer-Centric Experience: RESTful, well-documented APIs with strong uptime and ease of integration make it simple for engineering teams to embed open banking into their products quickly.

• Proven Use Cases Across Industries: From AI-driven credit risk engines (e.g., Fimento) to accounting platforms (Bokio, Odoo) and loyalty programs (SAS EuroBonus), Enable Banking enables diverse, real-world applications that drive efficiency and personalization.

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Role in the Broader Tech Landscape

Enable Banking is riding the wave of open banking transformation in Europe, where regulation (PSD2) has opened up access to bank data and payments, but implementation remains fragmented and technically challenging. As more businesses look to build embedded finance, instant credit decisions, and automated financial management tools, the need for reliable, scalable connectivity has never been greater.

The timing is critical: banks are modernizing their APIs, regulators are pushing for stronger open finance frameworks, and companies are under pressure to reduce manual processes and improve customer experiences. Enable Banking sits at the center of this shift, acting as a foundational layer that allows fintechs, lenders, and SaaS platforms to innovate faster without reinventing the wheel for each market.

By lowering the barrier to open banking adoption, Enable Banking is helping democratize access to financial data and payments, enabling a more competitive, innovative, and customer-centric European financial ecosystem. Its neutral, infrastructure-first approach also supports a healthier fintech landscape, where multiple players can build differentiated products on top of shared, compliant plumbing.

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Quick Take & Future Outlook

Enable Banking is well-positioned to become a key piece of Europe’s open banking backbone. As open finance expands beyond payments and account data into areas like investments, pensions, and identity, the demand for neutral, scalable connectivity will only grow. The company’s focus on infrastructure—rather than competing with its partners—gives it a sustainable edge and strong network effects as more banks and businesses join its ecosystem.

Looking ahead, Enable Banking is likely to deepen its footprint in underpenetrated European markets, expand into new open finance use cases, and potentially support cross-border payment flows and multi-currency capabilities. Strategic partnerships with investors like Wellstreet and talent from institutions like Nordea will further accelerate its product development and go-to-market.

In a world where financial services are increasingly embedded into everyday platforms, Enable Banking’s role as a silent enabler—making open banking simple, secure, and accessible—will only become more valuable. Just as cloud infrastructure powered the last decade of SaaS growth, open banking infrastructure like Enable Banking’s could power the next wave of financial innovation across Europe.