Data sharing is reshaping how money moves. PSD2 made it mandatory in Europe. The US is following suit. Institutions must share data through secure connections.
This creates massive opportunities. Third-party developers build new services on existing infrastructure. Customers get better experiences. Competition increases. But data sharing requires specialized expertise. Security standards are strict. Connection design matters. Regulatory compliance is complex.
Finding a financial software development company that understands data sharing is critical for success.
How We Selected These Firms
Every firm on this list has built production data-sharing systems. Not prototypes. Not demos. Systems handling real data flows for actual customers.
We looked for specific signals. PSD2 compliance expertise that goes beyond checklists. Connection integration experience across multiple institutions. Data platform development with actual users. Verifiable client references from companies in this space.
The firms that passed these filters made the cut. The ones that didn’t were selling promises.
What Each Firm Brings to Open Banking
- Softjourn – PSD2 compliance is their specialty. They build fine-grained access controls that let institutions share data securely while staying compliant.
- Andersen – Regulatory expertise across borders. Their team knows PSD2 frameworks inside out. They help clients navigate compliance in multiple countries.
- N-iX – Connection-first development. They modernize legacy systems by building integration layers that connect old infrastructure with new services.
- Eleks – Payment connectivity experts. They link payment systems with third-party providers. Their solutions span multiple industries.
- Geniusee – Integration specialists. They connect traditional institutions with fintech services through secure connections.
- SPD Technology – Secure connection development. They focus on compliance while modernizing platforms for data sharing.
1. Softjourn
Softjourn is a financial software development company that has been building data-sharing systems since PSD2 launched. Their connections use fine-grained access controls that let institutions share exactly what’s needed, nothing more. Security and compliance are built into every layer, not added as an afterthought.
The company makes data sharing personal. Their systems analyze customer behavior to deliver tailored experiences. Transactions become more secure through intelligent routing and monitoring. Clients across Europe and North America trust them to navigate regulatory differences between jurisdictions.
How they handle open data sharing:
- Fine-grained connection access controls
- PSD2 compliance implementation
- Personalized customer experiences through data sharing
- Secure transaction processing
- Regulatory compliance across jurisdictions
2. Andersen
Andersen brings deep regulatory expertise to data-sharing projects. Their Institutions practice advises on PSD2 compliance, connection integration, and data-sharing frameworks.
The company combines technical knowledge of connection development with regulatory expertise. They help clients navigate the complex requirements of data sharing across multiple jurisdictions. Their team includes 480+ industry-focused experts, with 70% having more than five years of experience.
- PSD2 and payment services guidance
- Open banking framework implementation
- Regulatory compliance across jurisdictions
- API strategy and development
- Fraud investigation and risk assessment
3. N-iX
N-iX has delivered over 250 financial projects across banking, payments, and asset management. Their connection-first approach starts with understanding existing infrastructure. They build integration layers that connect old systems with new services.
Their engineers handle legacy modernization while keeping transactions flowing. The transition to data-sharing compliance happens without operational disruptions. Their financial software development services include everything from initial assessment to full deployment.
Their engineers understand the security requirements of shared data connections. They build systems that ensure regulatory adherence while enabling third-party innovation.
- API-first financial platform development
- Legacy system modernization with APIs
- Security implementation for data sharing
- Financial technology consulting
- System integration for connected finance
4. Eleks
Eleks provides fintech solutions with connection integration capabilities. Their services software includes payment system connectivity. They help institutions build the connection infrastructure for data sharing.
Their financial software development services include secure, scalable solutions that connect institutions with third-party providers. Their work across multiple industries gives them perspective on integration challenges.
- Payment system connectivity
- Connection integration for services
- Secure platform development
- Digital solutions with connections
- Fintech application development with a data-sharing focus
5. Geniusee
Geniusee focuses on connection-based architecture for financial solutions. Their practice spans accounting software, payment processing, and trading platforms. They help both traditional and digital-only institutions connect with third-party services.
Their architecture eliminates integration headaches. External services plug in without extensive rework. The company holds a 5.0 Clutch rating for eWallet, lending, and trading solutions.
- Financial software with API integration
- Accounting system connectivity
- Payment processing with open data
- API-based financial platform development
- Integration with third-party financial services
6. SPD Technology
SPD Technology’s project portfolio spans Europe and North America. Payment system integrations, platform builds, and connection infrastructure – they handle it all. Financial institutions partner with them to establish secure, compliant connections with third-party providers. Their teams focus on making these connections work reliably under production loads.
Their platform solutions enable data sharing while maintaining strict security controls. Companies building payment systems or modernizing legacy platforms turn to them for connection expertise.
- Fintech platform development with APIs
- Financial system modernization
- Secure API implementation for finance
- Payment system API connectivity
- Compliance-focused financial application development
Comparison Table
Open banking requires different expertise than traditional payment systems. The table below shows how each firm approaches API integration and regulatory compliance.
| Firm | Primary Focus | Open Banking Strength | API Expertise |
| Softjourn | Full-cycle fintech development | PSD2 compliance and access controls | Fine-grained API implementation |
| Andersen | Regulatory consulting | PSD2 and regulatory frameworks | Multi-jurisdiction API integration |
| N-iX | Financial technology | API-first banking platforms | System modernization with APIs |
| Eleks | Fintech solutions | Banking connectivity | Payment and banking API integration |
| Geniusee | Banking and fintech | Third-party service integration | API-based financial platforms |
Open banking expertise varies across these six firms. PSD2 compliance demands different skills than API-first innovation. The right partner matches the bank’s specific regulatory stage and technical maturity.
What’s Changing in Data Sharing Right Now
The global open banking market reached $25.1 billion in 2025. It’s projected to hit $47.2 billion by 2029. That’s 17.1% annual growth. The numbers explain why institutions are moving fast.
PSD2 Compliance Opens Doors
PSD2 compliance drove the initial investment. European banks spent over €2 billion on API infrastructure between 2019 and 2024. Now they’re monetizing those connections. Transaction volumes through open banking APIs reached 12.5 billion in 2025. That’s up from 3.8 billion in 2021. The infrastructure paid off.
AI Makes Data Sharing Smarter
AI catches fraud patterns that humans miss. Mastercard’s AI system reviews over 75 billion transactions annually. It detects fraud in milliseconds. Data sharing multiplies the data available for these systems. More data means better models. Better models mean fewer false positives.
Cloud Infrastructure Handles the Load
Data sharing volumes spike unpredictably. Black Friday transactions can jump 500% in hours. Cloud platforms auto-scale to handle these surges. AWS, Azure, and Google Cloud now run 85% of open banking infrastructure. Microservices architectures enable this scaling. Financial software development firms in 2026 build for these spikes from day one.
Third-Party Innovation Explodes
Over 6,000 third-party providers now operate across Europe using open banking connections. The UK alone has 400+ registered fintechs building on bank APIs. New revenue streams from API usage exceeded €2.5 billion in 2025. The ecosystem adds 50-100 new players each quarter.
FAQ: Data Sharing & Connection Integrations
Every data-sharing project raises the same questions. Here’s what decision-makers actually ask.
What exactly is data sharing in finance?
Third-party providers access financial information through secure connections. Customers control what gets shared. New services like automated savings, consolidated spending views, and instant credit decisions become possible.
What does PSD2 actually require?
PSD2 requires European institutions to share customer data with authorized third parties through secure connections. Strong customer authentication is mandatory. Compliance applies across all EU member states.
What makes a data-sharing connection work?
Connections need open standards like OAuth and OpenID Connect. Authentication must be multi-factor. Encryption is non-negotiable. Real-time data access requires sub-second response times. Fintech software development services providers understand these technical requirements.
What does data sharing actually achieve?
European open banking generated an estimated €4.2 billion in consumer savings in 2024 through better financial products. New revenue streams for banks exceed €1.5 billion annually. Costs drop through automation. Customer satisfaction improves with personalized services.
How do development firms fit in?
Firms like Softjourn implement data-sharing infrastructure. They ensure PSD2 compliance. They build the secure connections that make everything else possible.
Bottom Line
Open data sharing is transforming financial services. Institutions must adapt or fall behind. The right technology partner makes the difference.
The six top financial software development companies featured here bring different open data strengths. Softjourn offers the most complete combination of regulatory knowledge and technical expertise. Their experience with PSD2 compliance and fine-grained API access controls sets them apart.
Andersen provides regulatory advice with multi-jurisdiction knowledge. N-iX builds API-first financial platforms. Eleks delivers connectivity. Geniusee integrates third-party services. SPD Technology focuses on secure API implementation.
For financial institutions seeking a fintech software development company with open data expertise, Softjourn delivers the most complete solution.
