The Trustly Blog

As the industry comes back together after the pandemic and prepares for the start of 2022, we look back on key drivers of the continuously evolving FinTech industry. In this article, we reflect on key learnings from Money 2020 Vegas, the industry’s most influential fintech event.

Trustly, the global leader in online banking and payments, and Payrailz, a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States, have joined forces to more efficiently deliver Open Banking to consumers in the U.S.

I originally intended this blog post to be quite technical and only focus on a few explicit engineering challenges we faced and how we solved them. But I soon realized that it would not make much sense if I did not describe the context a bit more.

According to a 2021 study by Juniper Research, the value of global payment transactions facilitated by Open Banking will exceed $116 billion by 2026. This projected value represents a 2,800% growth rate in the next 5 years—2021 is projected to generate $4 billion.

When I joined Trustly nearly nine years ago, I had never worked in fintech, or ever considered doing so. It was simply a corner of the programming field that wasn’t on my radar. I have since learned that in fintech, the business is fast-paced and the engineering is challenging in ways I never imagined it would be. The work we do and the code we write every day moves billions in funds around the world. A daunting and exciting thought for an engineer.