Next event:

The QA Financial Forum: Chicago 2018

25 April, 2018
News and research on financial software quality assurance and risk management

Nordea Open Banking is live

13 December 2017
Over 1,000 external developers have completed testing Nordea’s open APIs, bringing the bank one step closer to the world of open banking

Nordea, the Scandinavian banking group, has announced that over 1,000 external developers have completed testing of open application programming interfaces (APIs) and associated services bringing the bank one step closer to the world of open banking.

Nordea will now connect the APIs to its production system making it the first Nordic bank to offer its pilots access to real customer data.

With the PSD2 regulation coming into force in 2018, banks will be required to open up their customer data to third parties to offer services to account holders. Erik Zingmark, Co-Head of Transaction Banking at Nordea, said “we view PSD2 as an opportunity, which is why we have made a significant effort in building the Open Banking platform. We see possibilities to offer our customers new services together with partners, and we could offer our customers services in geographies beyond our home region”.

Nordea is now starting a piloting period in which selected third parties will build applications on top of the APIs and, together with pilot customers, they will confirm that all aspects of the Open Banking solution work as expected. Pilot data is currently limited to Finnish customers, but will soon be expanded to include customers throughout the other Nordic countries.

The third-party applications will be able to use the Account Information Service (AIS) API where they can retrieve account information details and initiate payments through the Payment Initiation Service (PIS) API. End users will be able to authenticate themselves, giving consent to the third-party provider to access their accounts.

The QA Vector 500: your route to the right partner

Looking for a quality assurance, IT risk, or testing partner? Then you need access our expertly researched resource tracking the most important 500 service providers, from the largest to the most specialist.

Sign up now

Get the latest
by email

Newsletter Sign-Up
First Name*
Last Name*

I understand my contact details will be entered into your database and used to contact me by email with QA Financial's newsletter. See our privacy policy here.

Opted-in to receive newsletter
Source - newsletter sign-up form