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Company Database - ndgit

First API Platform for Banking, Insurances, and Fintechs
ndgit stands for Next Digital Finance. The company provides a proven API platform for banking and insurance. Connecting banks and fintechs with digital ecosystems, its technology opens up banks to digital partners with Open Banking APIs and PSD2 solutions. The ndgit fintech platform forms a technological backbone for new applications and IT landscapes in banking and insurance. www.nextdigitalbanking.com

Service provider type 
•platform enabler
•connectors/API connectivity/API management and development 
•consent (fine-grained consent) and GDPR (consent management for Xs2A included)
•TPP KYC/identity (partly direct and partly through partners)
•fraud/risk/security (secure API gateway for TPPs)

Types of supported APIs\API standard supported 
Berlin Group Standards, Open Banking UK standards, Berlin Group, STET (France), UK Open Banking

How it works
NDGIT's API management platform is a middleware that connects the bank's core banking system - often legacy systems - with innovative fintech services via APIs. These new services either simplify the bank's internal processes, which leads to greater efficiency, or deliver new value propositions through value-added services for the bank's customers.

What problem does the company solve
Banks have a hard time being as innovative as FinTechs due to the mentioned legacy systems and organizational structures that have outgrown efficiency. NDGIT's API management platform allows banks to become PSD2 compliant in just 60 working days by exposing their systems via APIs. For those who think one step further, the platform enables building ecosystems for banking-as-a-service and customer-centric banking app stores.

Industries/target markets
Banks and insurance companies are classic customers, fintechs and insurtechs mostly partners; geographically, the NDGIT network sits all over Europe

Founder(s)
Oliver Dlugosch and Florian Pahl

Funding rounds and investors
Seed funding and Series A; investors: Capnamic Ventures, Dieter von Holtzbrinck Ventures MDLG-Beteiligungs OHG, PROfounder Capital II LP und Business Angels; Series B just started

Geographical coverage (operational areal)
Worldwide

Technology
A middleware based on a banking specialised adaption of kong that enables PSD2 compliance following the standards of Berlin Group, UK Open Banking, and STET but also several Open Banking use cases like offering banking-as-a-service for other banks and fintechs or app stores for bank customers that allow entering partner services with single sign-on from the customer's online banking.

Software language
Language: JSON, java, spring 
Network technology:  REST & SOAP

Software developement tools
kong, github

When was the core technology developed
2016

Partners
Synpulse, Sonect, neon, Finstar, SWISS FIN LAB, Contovista, niiio finance group, vdpResearch, B+S Banksysteme, FinTecSystems, and more 

Customers / Case studies
A total of 30 well-known banks belong to its customer base, including international leaders such as UBS, Hypothekarbank Lenzburg, Sozialbank and “Challenger Banks” like Banco BNI Europa. 

Awards 
Euro Finance Tech Award 2017, CEE Fintech Challenge Award 2018, IT Innovation Award 2019 (Switzerland)

Contact ndgit

Mies-van-der-Rohe-Str. 6 +49 89 1250155 60
80807 Munich https://ndgit.com/
Germany