In addition to offering free Open Banking connectivity, Nordigen will continue to provide data analytics and insights services, which it currently offers to 50+ global fintechs, banks, and lenders operating across 19 countries. Nordigen's platform provides connectivity to 29 countries in the European Economic Area, including the UK.
Nordigen is able to offer a freemium service thanks to a technology stack that relies exclusively on PSD2 bank connections. As representative from Nordigen say, in Europe, the business model of charging for Open Banking data will not last long. The company believes the future of Open Banking is in the freemium model and that the rest of the industry will soon follow.
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