Nordea Bank has kicked off its first Open Banking pilot programme with a selected group of 22 customers, FinTechs and “innovative” third parties.
The 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.
A user consent-management process is also being tested, which uses a static mock user interface. In the upcoming stage, participants will be able to test more functionality in the sandbox environment such as initiating payments by using the Payment Initiation Service (PIS) API.
A select number was chosen for the pilot so that the bank could easily work in close collaboration with the group, follow up on the applications being built and conduct several feedback sessions to improve its Open Banking portal and processes in the future.
Nordea also hopes to identify and collaborate with third parties that could provide innovative and value adding services to its customers.
The bank aims to extend the pilot to the rest of the sign-ups and to provide enhanced functionality in a few months’ time.
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