Nordea Bank has made its Open Banking API pilot live today, opening its customers dataset to a select few customers in Finland.
The Norwegian bank first announced its plan to test its API platform earlier this year as way to adapt to changing scene of Europe’s payments environment with the upcoming Payment Services Directive (PSD2).
Today, the bank announced that it would connect a select few third parties in Finland to test out its platform, before opening it up to other European markets.
Erik Zingmark, co-head of transaction banking in Nordea, said in a Wednesday statement:
We view PSD2 as an opportunity, which is why we have made a significant effort in the building of the Open Banking platform. We see possibilities to offer our customers new services together with partners, and we could offer our customers services in geographies beyond our home region.
Claus Richter, head of cash management solutions at Nordea, said in the same announcement:
Together with fintechs and other external developers we aim to create new products and services for our customers at a faster pace than we could do by ourselves – all while keeping the customers firmly in control of what data they wish to expose and which products they wish to use…That hard work has paid off, and we are proud to be the first Nordic bank to offer our pilots access to real customer data.