20 September 2017
visit www.avoka.com

Nordea begins API pilots

04 July 2017  |  10700 views  |  0 Nordea branch signage 2

Nordea has picked through the hundreds of developers to have expressed interest in its new Open Banking programme to find a select few who will now pilot an account information service (AIS) API.

Unveiled in early spring, the API platform is Nordea's effort to capitalise on the ground-shaking changes to the European payments landscape envisaged under the forthcoming revisions to the Payment Services Directive (PSD2). Under the rules, banks will be obliged to provide licensed third parties with secure access to customers’ accounts.

The Nordic bank says that within a couple of weeks of inviting developers to join its programme, it had received 700 sign ups.

Now, a group of 22 customers, fintech firms and third parties have been picked for the first pilot, which will provide a sandbox environment where developers can test the AIS API, retrieving account information details, account balances, and transaction history. A user consent management process is also being tested, while later pilots will focus on initiating payments through a separate API.

Nordea says that the pilot programme is designed to gather feedback that will help it improve functionality, and identify third parties that can be valuable partners.

In the longer term, says the bank's Sanela Dulic: "Open Banking will provide our customers with various new products and services, while keeping the customers firmly in control of what information they wish to expose and which products they wish to use.

"We see this as an opportunity to embrace the changing landscape. Our goal is to strengthen our collaboration with fintechs and go beyond the regulation by providing premium APIs which fit the changing needs of customers across all segments."
KeywordsDEVELOPER

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

EBA rejects Commission amendments on screen scraping under PSD2

EBA rejects Commission amendments on screen scraping under PSD2

30 June 2017  |  21079 views  |  16 comments | 45 tweets | 62 linkedin
Berlin Group to publish single API standard for PSD2

Berlin Group to publish single API standard for PSD2

13 June 2017  |  14966 views  |  0 comments | 29 tweets | 62 linkedin
Countdown to PSD2: Finextra surveys financial institutions on readiness and strategies

Countdown to PSD2: Finextra surveys financial institutions on readiness and strategies

05 June 2017  |  13206 views  |  0 comments | 10 tweets | 5 linkedin
BBVA launches Open API marketplace

BBVA launches Open API marketplace

24 May 2017  |  23218 views  |  1 comments | 59 tweets | 88 linkedin
Monzo puts API development on the back burner

Monzo puts API development on the back burner

12 May 2017  |  11231 views  |  0 comments | 25 tweets | 20 linkedin
Nordea readies for PSD2 with Open Banking API site

Nordea readies for PSD2 with Open Banking API site

01 March 2017  |  19368 views  |  2 comments | 33 tweets | 55 linkedin
UK consults on Open Banking plan

UK consults on Open Banking plan

23 November 2016  |  9713 views  |  0 comments | 29 tweets | 20 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.temenos.comvisit www.abe-eba.eu

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
10488 views comments | 23 tweets | 39 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10300 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9141 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7618 views comments | 5 tweets | 4 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7479 views comments | 14 tweets | 15 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job