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GoCardless is planning to take over open banking platform Nordigen

By ET Bureau - July 04, 2022 3 Mins Read

GoCardless is planning to take over open banking platform Nordigen-01

GoCardless , the global leader in direct bank payments, announces its plans to acquire Nordigen. With the freemium provider for open banking data, GoCardless continues to pursue its vision of becoming the global bank payments network. GoCardless will integrate Nordigen’s next generation of open banking connectivity into its bank-to-bank network. With more than 2,300 banks in 31 countries, Nordigen offers the widest coverage in Europe.

Through the acquisition, the fintech wants to offer open banking connectivity at scale and self-service access to account information services (AIS) for everyone free of charge. Its suite of premium data products also helps improve outcomes in a variety of use cases, from credit scoring to customer engagement.

The announcement is GoCardless’ latest move to advance its open banking strategy. Over the past 18 months, GoCardless has rolled out its open banking feature, Instant Bank Pay, in multiple markets, as well as Verified Mandates, which combines AIS with Direct Debit to prevent fraud. The deal gives GoCardless its own open banking connectivity, which is set to expand in the near future through wider adoption and new payment types such as variable recurring payments.

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Hiroki Takeuchi , Co-Founder and CEO of GoCardless says:  “Over the last few years it has been exciting to see how Open Banking has evolved from an emerging trend into a global phenomenon with a market value of over $400 billion. We recognized early on that this technology would define bank payments for decades to come. Over the past 18 months, we have ramped up our commitment to Open Banking as part of our vision to build the global bank payments network.”

“The acquisition of Nordigen will take us to the next level. Through the intelligent combination of free, state-of-the-art Open Banking connectivity with our many years of expertise in payment transactions, we can offer Open Banking-as-a-Service to everyone – whether developer, partner or fintech. We believe this open access will lead to experiments that will yield even more compelling use cases. We look forward to redefining the possibilities of Open Banking with the talented Nordigen team on board,” continued Hiroki Takeuchi .

Rolands Mesters, CEO of Nordigen , says: “Our mission at Nordigen is to help companies around the world adopt and use Open Banking to enable greater financial transparency and financial inclusion. We share GoCardless’ enthusiasm for the growth of Open Banking and are excited to partner with people who not only share our passion for disruptive innovation in financial services, but who will also help us bring Open Banking freely to a much wider audience close.

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