Nordea takes open banking to Sweden
Nordea is a right old super trouper as it has extended its open banking to Sweden.
Take a chance on me
According to the bank, this gives developers the possibility to begin building applications designed for both Finnish and Swedish customers.
Erik Zingmark, head of transaction banking at Nordea, says it is “the first bank to open up two countries in the Nordics on this scale”.
Nordea’s open banking platform was launched at the end of 2017 when Finnish customer data was made available to third party developers. Since the launch, more than 2,500 developers have registered to test Nordea’s APIs.
As reported in March 2017, Nordea released the first version of its open banking portal targeted towards external developers, as it got ready for PSD2 at that time.
In the latest development, to access real customer data, third parties are required to obtain a PSD2 licence from the relevant national financial authority.
Developers will be able to use the account information service (AIS) API where they can retrieve account information details and initiate payments through the payment initiation service (PIS) API.
The end users, Nordea customers, will be able to authenticate themselves, and give consent to the third-party providers to access their accounts.
Nordea says its team is now working on extending the services to Denmark and Norway.
In our PayTech Awards 2018, Nordea netted a delicious double. It won “Best Mobile Payments Initiative” with its wallet and “IT Team of the Year” for its open banking crew.
