- Nordigen has been chosen by Teenit, an Amsterdam-based PFM software, to supply open banking companies.
- Nordigen will allow Teenit to securely hook up with clients’ financial institution accounts to supply transaction and account steadiness info.
- “Open banking goes hand-in-hand with private monetary administration instruments as entry to buyer info permits PFMs to remain up-to-date with their recommendations and analytics,” mentioned Nordigen CEO and Co-Founder Rolands Mesters.
Private monetary administration (PFM) software Teenit has chosen Nordigen for open banking. The Amsterdam-based PFM firm will provide its customers an mixture 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 hook up with clients’ financial institution accounts to supply real-time information on their transactions and financial savings account balances. With open connectivity to its customers’ monetary information, Teenit can higher fulfill its mission of teaching youngsters on cash administration.
“We needed to serve training to younger clients, it doesn’t matter what financial institution they select,” mentioned Teenit CEO Tatiana Pastukhova. “The mixing with Nordigen permits us to satisfy our function simply. With dad and mom’ authorization, we’re capable of join on to younger buyer financial institution accounts wherever in Europe, visualize for them their cash flows in a teenager-friendly method and analyze them to additional personalize the supplied academic content material.”
Latvia-based Nordigen was based in 2016. The corporate’s freemium mannequin provides entry to account info, such because the account holder’s identify, checking account numbers, transactions, and account balances without spending a dime by way of financial institution APIs. Nordigen’s paid merchandise embody enriched, transaction-level info that helps make sense of uncooked transaction and account information.
“Monetary literacy and training is extremely vital for all demographics, and beginning to construct a basis of information from a younger age will likely be very useful 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 permits PFMs to remain up-to-date with their recommendations and analytics.”
Nordigen was acquired by GoCardless earlier this 12 months to deepen the financial institution fee firm’s experience within the open banking area and allow it to develop into a banking-as-a-service supplier.
Photograph by Ivan Samkov