Klarna Open Banking Reaches 8 More Markets

Klarna, the leading global payments and shopping service, announces the expansion of its leading Open banking solution across eight more European countries, including Portugal, Denmark, Luxembourg, Ireland, Croatia, Estonia, Lithuania, and Latvia.

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Klarna provides the largest open banking network in Europe, supporting a total of 24 countries in the continent, with up to 99% and a minimum of 90% bank coverage across markets.

Klarna’s Open Banking solution, which today processes more than 150 million transactions per year, offers third-party providers simplified access to consumer bank account data via `Account information’ (AIS) and `Payment initiation’ (PIS) services in line with Payment Services Directives (PSD2). The secure solution allows consumers, wishing to elevate the potential of their financial data, to better understand and engage with their finances in a more meaningful way.

As part of the latest expansion, Klarna also introduces `Account Insights’, a powerful new solution that turns simple bank statements into unique insights through categorization and data enrichment. These insights can enable a variety of use cases, including personalized budget plans, insurance checks, loan applications, credit & risk assessments, personal finance management applications, and many more, all through a simple API integration.

“Since we launched our Open banking offering in March 2019 our growth trajectory has been tremendous. That’s why we’re excited to launch in 8 more markets today and expand our product offering even further, as we continue to lead Europe’s Open Banking industry covering more than 6.000 banks across 24 countries. The ability to empower consumers through financial data should not be at the discretion of a single provider but open to many providers so that more solutions can be developed that put the customer at the center of their personal finances, says Koen Köppen, Klarnas Chief Technology Officer.

Klarna’s XS2A API is the most established and proven solution that has been developed at scale across markets for more than 15 years. Across markets, Klarna has a superior PIS conversion rate from the login to the successful completion of the flow. The Klarna Open Banking Platform also provides developer-friendly tools and technical solutions to help solve both the compliance and UX aspects of managing credentials and to overall help drive an accelerated time to market for products while minimizing costs and technological investments required.


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Driven by wanderlust and a passion for tech, Sandra is the creative force behind Alertify. Love for exploration and discovery is what sparked the idea for Alertify, a product that likely combines Sandra’s technological expertise with the desire to simplify or enhance travel experiences in some way.