- Nordigen has been chosen by Teenit, an Amsterdam-based PFM device, to offer open banking companies.
- Nordigen will allow Teenit to securely connect with prospects’ financial institution accounts to supply transaction and account steadiness data.
- “Open banking goes hand-in-hand with private monetary administration instruments as entry to buyer data allows PFMs to remain up-to-date with their solutions and analytics,” mentioned Nordigen CEO and Co-Founder Rolands Mesters.
Private monetary administration (PFM) device Teenit has chosen Nordigen for open banking. The Amsterdam-based PFM firm will provide its customers an combination view of their funds, full with insights and evaluation on their spending and saving habits.
By integrating with Nordigen’s freemium providing, Teenit can securely connect with prospects’ financial institution accounts to supply real-time information on their transactions and financial savings account balances. With open connectivity to its customers’ monetary information, Teenit can higher fulfill its mission of teaching youngsters on cash administration.
“We needed to serve schooling to younger prospects, it doesn’t matter what financial institution they select,” mentioned Teenit CEO Tatiana Pastukhova. “The combination with Nordigen allows us to satisfy our function simply. With mother and father’ authorization, we’re in a position to join on to younger buyer financial institution accounts anyplace in Europe, visualize for them their cash flows in a teenager-friendly method and analyze them to additional personalize the provided academic content material.”
Latvia-based Nordigen was based in 2016. The corporate’s freemium mannequin provides entry to account data, such because the account holder’s identify, checking account numbers, transactions, and account balances totally free by way of financial institution APIs. Nordigen’s paid merchandise embrace enriched, transaction-level data that helps make sense of uncooked transaction and account information.
“Monetary literacy and schooling is extremely vital for all demographics, and beginning to construct a basis of data from a younger age shall be very helpful for Teenit’s consumer base,” mentioned Nordigen CEO and Co-Founder Rolands Mesters. “Open banking goes hand-in-hand with private monetary administration instruments as entry to buyer data allows PFMs to remain up-to-date with their solutions and analytics.”
Nordigen was acquired by GoCardless earlier this yr to deepen the financial institution cost firm’s experience within the open banking enviornment and allow it to turn out to be a banking-as-a-service supplier.
Photograph by Ivan Samkov