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Klarna Launches Open Banking Platform

Klarna launches a platform to access more than 4,300 banks through a single API, which will promote competition, innovation and superior consumer services.

The platform provides a fully proven and mature infrastructure, market coverage and connectivity, with access to 99% of online banking consumers currently across 14 European markets. By opening up its own technology and capabilities, Klarna is simplifying and democratising access to APIs securely. Established, newer banks and fintechs, as well as other licensed businesses, will be able to build smart and personalised offerings that meet the evolving needs of consumers across Europe. Klarna believes high-quality APIs will drive innovation and competition but most importantly will empower consumers across Europe with increased clarity on their finances, and ability to access better products.

Koen Köppen, Chief Technology Officer at Klarna, says: “At Klarna, we have an unparalleled depth of experience and capabilities in XS2A, and for over 15 years, we have succeeded in the midst of huge complexity. Now in the midst of further change and transformation from the PSD2 legislation and steps towards European Open Banking, we can enable other fintechs, banks and others to develop, test and bring new services and products to the market at a faster pace, through our Platform and by integrating with our single API. Our technology allows us to offer an ecosystem of services not only to consumers but also to businesses – whether that’s in retail, financial services or technology. We look forward to seeing all new solutions and products that will grow out of this, creating a consumer centric financial services industry in Europe.”


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