- Nordigen has been chosen by Teenit, an Amsterdam-based PFM instrument, to offer open banking companies.
- Nordigen will allow Teenit to securely connect with prospects’ financial institution accounts to supply transaction and account stability info.
- “Open banking goes hand-in-hand with private monetary administration instruments as entry to buyer info allows PFMs to remain up-to-date with their options and analytics,” mentioned Nordigen CEO and Co-Founder Rolands Mesters.
Private monetary administration (PFM) instrument 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 knowledge on their transactions and financial savings account balances. With open connectivity to its customers’ monetary knowledge, 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 mixing with Nordigen allows us to meet our objective simply. With dad and mom’ 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 supplied instructional content material.”
Latvia-based Nordigen was based in 2016. The corporate’s freemium mannequin presents entry to account info, such because the account holder’s identify, checking account numbers, transactions, and account balances without spending a dime through financial institution APIs. Nordigen’s paid merchandise embody enriched, transaction-level info that helps make sense of uncooked transaction and account knowledge.
“Monetary literacy and schooling is extremely vital for all demographics, and beginning to construct a basis of information from a younger age might be very helpful for Teenit’s person base,” mentioned Nordigen CEO and Co-Founder Rolands Mesters. “Open banking goes hand-in-hand with private monetary administration instruments as entry to buyer info allows PFMs to remain up-to-date with their options and analytics.”
Nordigen was acquired by GoCardless earlier this 12 months to deepen the financial institution fee firm’s experience within the open banking enviornment and allow it to turn into a banking-as-a-service supplier.
Picture by Ivan Samkov