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GoCardless to acquire open banking platform Nordigen
July 01, 2022
GoCardless will incorporate Nordigen’s next-generation open banking connectivity offering the widest coverage in Europe, connecting to more than 2,300 banks in 31 countries — into its account-to-account network.
The acquisition means the fintech will now provide free open banking connectivity at scale, opening up self-serve access to account information services (AIS) to everyone. In addition, its suite of premium data products help improve outcomes across a range of use cases from credit assessments to customer engagement.
The announcement is the latest move from GoCardless as it accelerates its open banking strategy. Over the past 18 months it has launched its open banking-enabled Instant Bank Pay feature across multiple markets, as well as Verified Mandates, which combines AIS with direct debit to prevent fraud.
This deal will enable GoCardless to acquire in-house open banking connectivity, which it plans to build on in the near future by expanding coverage and adding new payment types such as Variable Recurring Payments.
Important Links:
- 4-IN-1 Professional Diploma in Banking, Financial Services & Insurance (PDBFSI): https://tscfm.org/courses/4-in-1-professional-diploma-in-banking-financial-services-insurance-pdbfsi/