- 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.
Santander UK enters open banking payments partnership with Token.io
