Another 27 Danish banks earn earn entry to to starting up banking APIs

Bigger than two million folks in Denmark can possess earn entry to to starting up banking products and providers after 27 of the country’s banks fabricate an agreement with specialist vendor Nordic API Gateway via the IT vendor they collaboratively private, BEC. 

BEC has agreed to work with starting up banking platform provider Nordic API Gateway, which already has agreements with predominant banks within the Nordic region and former. 

IT provider provider BEC used to be founded by Danish banks in 1964 to permit them to portion IT capabilities. It is owned by several banks, alongside with Spar Nord, Nykredit, Arbejdernes Landsbank and Handelsbanken. Around 30% of Danish patrons are prospects of banks within the neighborhood. 

This follows a a similar agreement in February which saw Bankdata, which is a vendor with 9 bank house owners, earn entry to starting up banking application programming interfaces (APIs) from Nordic API Gateway, opening the products and providers up to around 1.7 million prospects.

The starting up banking products and providers fabricate it doable for prospects of banks that expend BEC to ticket and pay with accounts from rather a couple of banks and earn elephantine overview of their funds across several banks across 15 EU nations.

Open banking products and providers reminiscent of these possess been made doable by the EU’s Cost Providers Directive 2 regulations, which came into enact in 2018. PSD2 permits third events to earn entry to the consumer recordsdata held by banks by process of APIs, if buyer consent is granted, and provide products and providers the expend of this recordsdata. To illustrate, an organization, alongside with your consent, can desire a fee straight out of your myth without you leaving its web page.

BEC and Bankdata are organisations that work on IT growth for his or her people, which cuts prices and increases focal point.

Jesper Nielsen, CEO at BEC talked about: “We’re working laborious to starting up BEC’s banking platform and are well underway with novel partnerships with globally main know-how companions in a replacement of areas. By diagram of a solid partnership with Nordic API Gateway, we’re now also in a region to manufacture revolutionary products and providers that interact straight with accounts in rather a couple of banks.”

Speaking in February after Bankdata’s agreement with Nordic API Gateway, Bankdata’s growth director Claus Hjort Bjerre talked about: “We must be an stuffed with life player in an starting up ecosystem if we’re looking to be among the many exact to present a possess to our prospects’ needs for IT growth.

“With this particular collaboration, we’re in a region to withhold turning in on our promise to manufacture, put in power and bustle top quality IT solutions for our member banks and expend the particular know-how within the discipline to manufacture bigger competition and growth with the user in mind.”

The total starting up banking products and providers from Nordic API Gateway will now be on hand to the 27 BEC banks.

Rune Mai, CEO at Nordic API Gateway, talked about the banks can selected any of the products and providers they need now that the contract is agreed. He talked about banks in most cases starting up their starting up banking journeys by enabling myth aggregation and then switch into payments.

“We already had relationships with a couple of the banks within the BEC community, however now we are able to work with teams at the total banks. For us, it is a long way a blueprint to distribute our starting up banking infrastructure platform great faster,” talked about Mai.

Nordic API Gateway now has 42 Nordic banks as prospects, alongside with Danske Bank and OP Financial Community. The corporate is increasing across Europe alongside with within the UK, Germany, the Baltics, Spain and Italy.

A watch performed by Nordic API Gateway final June printed that companies operating within the region’s monetary products and providers sector possess been altering their products and providers following the introduction of PSD2.

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