Norway’s largest bank, DNB, is launching a new version of its mobile banking app, powered by the open banking platform Nordic API Gateway.
DNB and Nordic API Gateway have joined forces to launch a new multi-banking feature in the app that is based on Nordic API Gateway’s account information service (AIS). The goal of DNB is to become the favoured mobile banking app interface for all Norwegians.
«We’ve been working closely with DNB to aggregate a broad range of financial data and we’re happy to see it live in the new version of their mobile banking app. With access to every bank in the Norway, DNB can deliver personalised insights to their users and eliminate the hurdles for Norwegians who have accounts with several different banks. We’re honoured that DNB has chosen to partner with us, and we’re already seeing that using account aggregation in banking is becoming a huge competitive advantage in the Nordics,» Rune Mai, CEO & Founder of Nordic API Gateway, explains.
In 2018, DNB and Danske Bank became co-owners of the thriving fintech, Nordic API Gateway. Together, the businesses are building the leading PSD2 infrastructure across the Nordics. Now, DNB is happy to see the full effects of their partnership, which provides new opportunities for Norwegians with more than one bank. On average, Norway is among the top Nordic countries in the world with the most active bank accounts per inhabitant. DNB is set to capitalise on this with the ambition to launch a game-changing mobile banking app that can be used by everyone.
«PSD2 creates new opportunities and increases competition in the industry, and we want to be a leading player in these changes. With Nordic API Gateway, we’re taking full advantage of the opportunities PSD2 creates. It’s a unique opportunity to aggregate account information from other players to give our customers a full financial overview of our new mobile bank. Now, we have a clear chance of owning the relationship with our customers no matter how many banks they have. This is an important step in the direction of becoming the mobile bank for all Norwegians, » says Per Kristian Næss Fladset, Head of Open Banking, DNB.
Nordic API Gateway provides one way of accessing personal and business accounts across from all Nordic banks and DNB will become the first Norwegian bank with access to all banks in Norway. Nordic API Gateway clients include major banks, such as Danske Bank and Jyske Bank, and a number of various start-ups, retails and ERP providers across Denmark, Norway, Sweden and Finland. Earlier last month, Nordic API Gateway launched a new payments infrastructure offering an easy way to do account-to-account payments for consumers and businesses, becoming one of the first companies in the Nordics to land the payment initiation service provider (PISP) license from the FSA.