Nordea flies higher with open banking pilots
Nordea Bank has pressed the accelerator on its open banking ambitions with the launch of pilots.
As reported in March, the bank released the first version of its open banking portal targeted towards external developers, as it gets ready for the second Payment Services Directive (PSD2) requirements.
At the time, it invited developers to sign up for its pilot programme and to share their thoughts about services they would like to develop with Nordea and on the platform. The response comprised 700 sign-ups within the first couple of weeks, according to the bank.
Now another step has been taken. It has kicked off the first pilot programme with a selected group of 22 customers, fintechs and third parties.
In a few months’ time, Nordea plans to extend this pilot to the rest of the sign-ups and to provide “enhanced functionality”.
The current pilot provides a sandbox environment where developers can test the account information service (AIS) API, and can retrieve data such as the account information details, account balances and transaction history. The user consent-management process is also being tested, using a static mock user interface.
In the upcoming stage, pilots will be able to test more functionality in the sandbox environment such as initiating payments by using the payment initiation service (PIS) API.
Sanela Dulic, business partner, open banking project at Nordea, says throughout the next couple of months, it will “gain a lot of insight and adjust” its developer portal, consent management (e.g. data sharing permission and customer consent), and APIs accordingly.
The second phase of the pilot programme is set to start this autumn, where selected companies will gain access to its production environment APIs.