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EMBank Chairman Ekmel Çilingir Writes On Open Finance and SME Growth

EMBank Chairman Ekmel Çilingir Writes On Open Finance and SME Growth

EMBank Chairman Ekmel Çilingir Writes On Open Finance and SME Growth

Ekmel Çilingir, Chairman of European Merchant Bank (EMBank), has contributed a thought-provoking article to The Paypers' Open Finance Report 2025, exploring the transformative role of open finance and PSD3 in driving growth for small and mid-sized enterprises (SMEs) across Europe.

In the article, titled "Open Finance: A New Growth Lever for SMEs," Çilingir argues that while much of the open finance discussion revolves around technology and compliance, the real opportunity lies in unlocking growth for SMEs-the backbone of Europe's economy. He emphasises that open finance, when directed intentionally, can rebuild critical infrastructure for SME trade, finance, and payment access that has eroded over the past decade.

"The pipes of international trade for SMEs-settlements, compliance, and data-sharing-are increasingly clogged," Çilingir writes. "Open finance, under PSD3, gives us a chance to clear them and build something more resilient and inclusive."

Çilingir's article highlights several key areas where open finance can create tangible value for SMEs:

Improved Risk Assessment: By leveraging real-time data on cash flows, payroll, tax filings, and even logistics, SMEs can gain better access to working capital and trade finance products.

Faster, Cheaper Payments: PSD3's support for account-to-account (A2A) payments offers SMEs a viable alternative to card networks-cutting costs, reducing chargebacks, and improving cash flow.

Smarter Compliance: With programmable and embedded checks, open finance can streamline AML, KYC, and fraud detection processes, speeding up onboarding and reducing operational friction.

Cross-Border Consistency: Harmonised APIs and security profiles will allow European SMEs to operate more seamlessly across markets, eliminating costly inefficiencies in international payments and finance.

The report, which features voices from across the banking and fintech industries, comes at a time when PSD3 is poised to reshape the regulatory and technological landscape of European financial services. Çilingir makes a clear case that SMEs must not be left out of this transformation.

"Open finance should not be seen as just another tech trend," he concludes. "It can be a powerful instrument of trade policy-if we focus it where it counts."
The full article and report are available publicly via The Paypers:
https://thepaypers.com/fintech/reports/open-finance-report-2025

Company Name: European Merchant Bank (EMBank)
Contact Person: Dilek Isik
Email: dilek.isik@em.bank
Country: Lithuania
Address: Pirkliu Klubas, Gedimino 35, 01119, Vilnius, Lithuania
Website: https://em.bank/

European Merchant Bank (EMBank) is a specialised financial institution licensed by the European Central Bank and headquartered in Vilnius, Lithuania. The bank supports SMEs and fintechs with regulated accounts, embedded financial infrastructure, payment processing, and credit solutions. EMBank operates in line with EU standards and participates in Lithuania's deposit guarantee scheme.
Further information can be found at https://em.bank

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