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Bankify taps Neonomics for open banking API

Source: Neonomics

Bankify, the Nordic-based Fintech on a mission to provide next generation Personal Financial Management services, has teamed up with Neonomics to offer their clients the opportunity to boost their financial applications with the power of open banking.

The partnership with Neonomics enables both companies to utilize their core capabilities. Neonomics provides Bankify with the ability to simultaneously comply with PSD2 regulations and offer instant access to banks and other TPPs via one unified API. This allows Bankify’s clients to focus on the most important factor: services that create value for end customers. Additionally, Neonomics’ customers have the added benefit of being able to access Bankify's PFM microservices, with features such as gamified savings, secure group payments, and personalised content.

On discussion of the new partnership, Roar Alme, Chief Commercial Officer of Neonomics comments: “During our discussions, Bankify demonstrated a keen understanding of the challenges facing the banking industry today during its radical transition into the era of PSD2 and open banking. Their client is always in prime focus, therefore Bankify were searching for a simplified method to offer their PFM microservices in a faster and more cost-efficient manner. Fortunately, they have found the solution in Neonomics.”

This synergy is echoed by Antti Tarakkamäki - Managing Partner & Co-Founder of Bankify. “Via this partnership, we can add value to our joint clients, who are looking for ready use cases to boost their financial applications with open banking included.” He continues: “API driven embedded finance app solutions are a game changing opportunity for incumbent and challenger players in the industry.”

As a licensed payment institution Neonomics is currently connected to more than 2,000 banks across Europe enabling pure API based account-to-account payments and account data. Bankify has set its sights on conquering the Nordics, with planned expansions further afield facilitated by partnerships such as that with Neonomics.

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