IBOS member Nordea has released the first version of its Open Banking portal, which is targeted towards external developers, in preparation for Payment Services Directive (PSD2) requirements.
In releasing the Open Banking/Open API portal, Nordea not only moves to meet the PSD2 requirements – under which banks need to provide third parties with access to customer accounts upon their approval – but also takes the lead position in the Nordic market in the Open API area.
Jarkko Turunen, Head of Open Banking at Nordea, commented:
“Open Banking will fundamentally shift banking in the way Internet Banking did more than a decade ago. We will see many new ways of distributing banking products. In the end, this creates more choice and value for customers. By opening up to developers, Nordea is seeking to actively collaborate with third parties and industry innovators to co-create future banking services for our customers.”
As a first move towards a fully-functioning developer portal and community hub, Nordea is one of the first movers in the Nordics to openly state their Open Banking vision, with the bank ready to embrace the opportunities presented by the changing banking landscape and through collaboration with fintechs.
The portal will act as the channel for dialogue with partners and third-party developers. The portal launch is planned for Q1 2018, but several pilot activities will take place during 2017.
Read the press release, via Nordea’s website, here.