Neonomics, Link Mobility roll-out open banking payments

By Robin Amlot

Neonomics, a Norway-based open banking services provider and Link Mobility (LINK), one of Europe’s leading providers of mobile messaging and Communications Platform as a Service (CPaaS) solutions, have begun rolling out open banking payments to LINK’s more than 40,000 customer accounts. During 2020 LINK reports that it exchanged 10.5 billion messages.

Using Neonomics unified API to access banks across Europe, LINK aims to offer a more cost-efficient means of distributing and processing payments by enabling customers to connect directly to their bank accounts via mobile notifications.

“We believe open banking is evolving the way consumers interact with financial services and with our strong collaboration with Neonomics we are giving our customers a more cost-effective means to manage how their customers pay bills and invoices through our product, Mobile Invoice.” said Jan Tore Kjær, Sales- & Marketing Director at Link Mobility AS.

The two companies began their collaboration in 2018 and have developed a strong technical foundation from which to tailor services downstream. LINK expects to see steady adoption of account-to-account payments as more of their enterprise customers experience first-hand how the payment alternative reduces transaction costs and eliminates interchange fees.

Christoffer Andvig, CEO of Neonomics, said: “We are excited to take this important next step with LINK. Our unique approach to onboarding banks is the foundation for how we are helping streamline customer experiences and costs for LINK and for LINK’s extensive customer base.”

Founded and headquartered in Oslo, Norway in 2017, Neonomics currently has 70 team members representing 20 different nationalities. Authorised by the Norwegian FSA as a licensed payment institution the company is delivering payments initiation and account information services to a wide range of customers spanning FinTechs, payment service providers, banks and more.

LINK serves enterprise, SME and government customers. It offers a wide range of scalable mobile solutions, creating digital convergence between businesses and customers, governments and citizens, platforms and users