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Nordea unveils new Open Banking Solution for corporate customers

Gunnar Berger, head of Open Banking, Nordea

Nordea has announced the launch of Instant Reporting, its new Open Banking offering for corporate customers.

The solution based on open Application Programme Interface (API) will support the linkage between third-parties and Nordea and go beyond legal requirement in PSD2 offering a commercially viable Open Banking product, allowing customers to access accounts and integrate real-time data with their own systems and processes.

“We have been committed to Open Banking from the beginning because we could really see the potential for creating new products and services that bring value to our customers,” says Gunnar Berger, head of Nordea Open Banking. “The exciting thing with our new product, Instant Reporting, is that it gives corporates the chance to directly access their real-time data which will have a big impact on the way they organise their businesses, freeing up valuable time and resources.”

Nordea, having introduced its Open Banking platform in late 2017 will initially launch the Instant Reporting offering in Sweden and Finland with intentions to later focus on Danish and Norwegian accounts.

According to Nordea, more than 3,300 developers are registered for testing its APIs.

Erik Zingmark, head of Transaction Banking, Nordea said, “After taking the leading position in Open Banking in the Nordics, I am delighted to see that we can now offer the first real commercially viable product from the project and one that has the potential to benefit many customers. This launch is just the first of many great products ahead resulting from Nordea Open Banking.”

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