NoCFO, an AI-native financial management platform, has partnered with open banking solutions provider Salt Edge to integrate direct payment initiation capabilities into its ecosystem. The collaboration brings “Pay by Bank” functionality to entrepreneurs and small businesses, eliminating the need to switch between different applications to complete financial workflows.
Building an all-in-one command centre
Teemu Karuluoto, CEO and co-founder at NoCFO
Founded in 2020 in Espoo, Finland, NoCFO was built with an automation-first approach to serve founder-led companies and small business owners. The platform aims to automate accounting, invoicing, expenses, and financial reporting, giving entrepreneurs back the time they need to focus on building their businesses instead of managing financial administration.
To achieve its goal of becoming an all-in-one financial command centre, NoCFO required seamless and compliant bank connectivity. By embedding Salt Edge’s Pay by Bank solution, NoCFO users can now handle the entire process of approving and paying invoices directly within the app. The platform features a signature “swipe to approve” interface, designed to make business transactions as effortless as using a consumer-grade application.
Teemu Karuluoto, CEO and co-founder at NoCFO, explained the impact of the integration: “Our vision has always been to build a platform where entrepreneurs can manage their entire financial life without constant context switching between apps. With Salt Edge’s payment initiation, we’re making that vision real. Our users can now approve and pay invoices, track cash flow, and handle their bookkeeping all in one place. They hardly need to log in to their bank anymore. That’s the kind of simplicity small business owners deserve.”
Strategic expansion into Germany
Virgiliu Bodrug, pay by bank expert at Salt Edge
The Pay by Bank feature is currently live and available to more than 3,000 active NoCFO users in Finland. However, the partnership is also acting as a key enabler for the company’s strategic expansion into the German market, which is scheduled for 2026.
Salt Edge was selected to support this expansion due to its strong Payment Services Directive 2 (PSD2) coverage, which connects to over 2,700 European institutions. This broad reach ensures robust functionality and compliance in both the Finnish and German key markets.
Virgiliu Bodrug, Pay by Bank expert at Salt Edge, commented on the collaboration: “The collaboration with NoCFO exemplifies the power of open banking to deliver tangible value and simplicity to small businesses. By embedding our Pay by Bank solution, NoCFO is closing the loop on the financial administration process, allowing entrepreneurs to stay within their core platform, maximise automation, and dramatically improve efficiency. We are proud to support their growth and their upcoming expansion into Germany.”
Salt Edge currently integrates with over 5,000 financial institutions across more than 50 countries, employing high international security standards as an ISO 27001 certified and AISP licensed provider.
