- Santander UK, a subsidiary of Banco Santander, has partnered with Token.io to enhance its open banking infrastructure.
- The collaboration allows Santander customers to make account-to-account (A2A) payments from external bank accounts to repay credit cards.
- Token.io’s technology reduces errors from manual data entry and supports biometric Strong Customer Authentication (SCA) for mobile payments.
- Santander aims to use Token.io’s solutions to improve real-time money movement for its 14 million+ UK customers and develop new real-time payment propositions.
- Token.io, founded in 2015, provides A2A infrastructure for major financial institutions and claims connectivity to over 567 million bank accounts across 20 markets.
- The partnership was announced at the Open Banking Expo in London by Santander UK’s chief payment officer, Paul Horlock, and Token.io’s CEO, Todd Clyde.
