spot_img
Tuesday, April 23, 2024
HomeNewsNeonomics and Worldline sign long-term open banking partnership

Neonomics and Worldline sign long-term open banking partnership

Collaboration with Nordic open banking leader Neonomics enables growth of account-to-account payments and data aggregation coverage  

Oslo, Paris, 21 November – Worldline, a global leader in payment services, and Neonomics have signed a commercial partnership to strengthen their open banking offerings across Europe. Worldline will now expand its account-to-account payments and data aggregation coverage to the Nordics through Neonomics, including Norway, Sweden, Denmark and Finland. Neonomics will benefit from Worldline´s strong position as a preferred partner to many industry-leading companies and also  from Worldline´s extensive open banking network in Europe. The two companies are on track to become the first pan-European pure PSD2 API providers, servicing an extensive network of merchants, banks, and acquirers.

Creating a successful open banking ecosystem
High-quality connectivity is important to realise the full potential of open banking and both companies are focused on connectivity to banks exclusively through PSD2-compliant APIs. Together, the two companies will be able to reach approximately 3,500 banks in 22 countries across Europe. Through the partnership with Neonomics, Worldline’s open banking data and payments infrastructure extends to banks in the entire Nordic region. In addition, Neonomics will extend their coverage to several additional core European markets in line with addressing existing customer needs and regulatory approval prior to integration.

Worldline’s extensive reach enables many use cases, such as credit insight, account-based payments and green banking, allowing third-party providers to quickly and effectively create a value proposition for their customers. As a result of the partnership with Neonomics, Worldline will also offer its merchants, banks, and acquirers in the entire Nordic region access to aggregated financial data and account-to-account payments.

By using Neonomics’ API, Worldline will not only expand its European coverage but will also benefit from a short time to market for its products and solutions. The interplay of these partners is an essential component of a successful open banking ecosystem, which will benefit players in the European payments industry.

Michael Steinbach, Head of Global Business Line Financial Services at Worldline explains: “We are excited to partner with Neonomics, as they have one of the most robust unified bank API platforms, with a technical set-up that supports our need to work with partners that can offer highly secure services in both today’s and tomorrow’s regulatory environment. By working together, we can make open banking an even more pan-European offering that helps to streamline payments and enables access to banking account data.”

Christoffer Andvig, CEO of Neonomics: We are very proud to partner with Worldline to expand the significant benefits of open banking much further across Europe, to spur the growth of account-to-account payments and to continue driving innovation on the data side through Worldline’s strong position as a preferred partner to many industry-leading companies.”

Chris Crespo
Chris Crespohttp://nordicfintechmagazine.com
Chris is a Founding Partner and Chief Editor at Nordic Fintech Magazine, where he simplifies complex financial ideas into easy-to-understand content. With nearly 20 years of experience in management consulting and financial services, including leadership roles with some of Europe's largest banks, he offers profound industry insights. Previously serving as the Chief Futurist at the largest bank in the Nordics, Chris has sharp views on the Future of Financial Services, Money, Disruption, and Ethical AI in Finance. He is also a guest lecturer at Stanford University, Singularity University and Copenhagen Business School, where he frequently discusses the future of Money, Finance, and Entrepreneurship in Financial Services. As a Behavioral Economist, Chris is passionate about studying how human behavior and decision-making relate to risk. He also delves into the connections between psychology, leadership, and technology within financial services.