18.08.2016 Warsaw, Poland: Kontomatik has just extended its geographical scope with Portugal. This country becomes the ninth geography covered by the Kontomatik Banking API, next to the already existing UK, Poland, Czech Republic, Slovakia, Spain, Mexico, Brazil and Russia.
What makes Portugal a perfect fit for banking APIs? While Portugal is a home for 10 million people, it also accommodates around 12 banks. Next to this, some internet banking interfaces are quite similar to either their Spanish or Brazilian alternatives. Hence, this makes the whole development process faster and less resourceful.
Portugal has been a homeland for many startups, especially in the FinTech area, and tools such as Kontomatik Banking API will substantially contribute towards the development of the whole FinTech ecosystem in Portugal. Having a commercial banking API released so ahead of PSD2 time also gives Portuguese FinTech developers a great chance to learn and practice before an open banking era commences.
Kontomatik previously announced its new product: Financial Health Indicator. It is not available in Portugal today, but its release can be expected by the end of 2016.