Two years ago, Finqware brought open banking to life in Romania, powering account information services for Banca Transilvania. Since then, we’ve been on a journey to understand how open banking technology truly performs. Not just in theory, but in the daily operations of Romanian businesses.
So, where are we today?
Are Romanian banking APIs living up to their promise?
Can companies really rely on them to access their bank statements and manage cash flow more intelligently?
From Theory to Everyday Value
Innovation isn’t just about technology. Innovation is about people finding meaningful ways to use it. For any new tech to become mainstream, it needs to deliver tangible value to real users. In open banking, those users aren’t just developers or fintechs; they’re finance professionals such as Treasurers, CFOs, and Accountants who live and breathe numbers, spreadsheets, and reconciliation every day.
These are the people open banking was made for. Imagine a CFO who wants to reduce manual, repetitive work while gaining real-time visibility into company finances. For them, banking APIs are a turning point, offering a secure and cost-effective way to automate financial operations and unlock state-of-the-art control and visibility.
The Rise of Corporate Treasury Automation
This is where innovation creates impact. A new category is taking shape — Corporate Treasury Automation, driven by real-time banking data. It’s transforming how companies see and manage their money, from consolidated cash views to instant access to multi-bank transactions.
But technology alone isn’t enough. User experience — how easily people can access, connect, and rely on these APIs — will ultimately decide whether open banking becomes a true standard or stays a niche innovation.
Testing APIs, Empowering Businesses
Over the past year, Finqware has been rigorously testing Romanian banking APIs, together with our banking and corporate partners and with the support of the National Bank of Romania. Our goal: to see how APIs perform in real-world corporate treasury scenarios — aggregating cash positions and transactions across multiple banks, entities, and currencies, all in real-time.
The result is more than just technical validation. It’s a step toward a smarter, more connected financial ecosystem where businesses operate with transparency, agility, and confidence.
| BANK | CONNECTED | FUNCTIONAL | DATA USEFULNESS. Data refresh response rate = real time data capacity |
|---|---|---|---|
 | ✅ | ✅ | 95% |
 | ✅ | ✅ | 99% |
 | ✅ | ⛔ | 49% |
 | ✅ | ✅ | 98% |
 | ✅ | ✅ | 99.5% |
 | ✅ | ✅ | 90% |
 | ✅ | ✅ | 97% |
 | ✅ | ✅ | 90% |
 | ✅ | ✅ | 99% |
 | ✅ | ✅ | 97% |
 | ✅ | ⛔ | poor sandbox functionality, unclear API documentation and lenghty response time in developer support |
 | ✅ | ✅ | 98% |
 | ⛔ | ⛔ | poor sandbox functionality and almost inexistent developer support |
 | ✅ | ✅ | 98% |
 | ✅ | ✅ | 96% |
 | ✅ | ✅ | 75% |
We invite you to explore our findings in the full Report on Romanian Open Banking APIs for Corporate Treasuries, including detailed performance insights for each major bank and the progress made throughout 2022.
About Finqware
Finqware is a pan-European payment institution solving the complexities of businesses working with multiple banks through its Open Banking infrastructure.
Backed by institutional investors such as Elevator Ventures, Raiffeisen International venture capital arm, and Gapminder, Finqware works for the largest banks in Central and Eastern Europe such as Banca Transilvania, Alpha Bank, CEC Bank and OTP, has a Seal of Excellence from the European Commission and is supported by Microsoft for Startups. It is renowned for being the first technology company to enable Open Banking in real-life production in Croatia and Romania and has already been recognized for its potential to become the CEE open banking leader.
