Mastercard's Aiia augments NORD.Investments with Open Banking payments

Wednesday 21 September 2022 09:43 CET | News

Denmark-based Aiia, a Mastercard company, has enabled top-up Open Banking payments for investment advisor platform NORD.Investments.


Until now, NORD.Investments customers experienced some challenges when adding funds to the investment platform, as the process involved going through their online bank and manually entering their investment account details to move their money.

With Mastercard’s Open Banking network, NORD.Investments now facilitates customers to do account-to-account payments in a single, unifying investment platform at the click of a button. This makes the process quicker, easier, and reduces human errors that can occur when typing in long digits manually.


Aiia, a Mastercard company, has enabled top-up Open Banking payments for NORD.Investments.

Improvements brought by the collaboration

Open banking gives consumers complete control over their financial data, and the choice to use that data to power solutions that help make their lives simpler. This new payment solution is set to improve the user experience for more than 7.000 users for which NORD.Investments manages more that USD 266.2 million.

Company officials stated that before they partnered with Mastercard, it was less convenient for their users to invest, as they would have to do this through their online bank. Now they’re able to offer everything on their own platform, making it easier for people to get started with their investment plans.

Expanding the solution to the rest of Europe

NORD.Investments recently achieved an Investment Firm license by the Danish Financial Supervisory Authorities, granting them access to expand the platform into new European markets. With Mastercard as its new Open Banking partner, the company will be able to scale the top-up payment solutions across Europe too. In the future, NORD.Investments will investigate how it can use Open Banking data to create intuitive user experiences directly in the app.

Mastercard's acquisition of Aiia

Mastercard has acquired Aiia in 2021, to allow its customers to develop and launch new digital solutions that meet the needs of everyday life. The company's expertise in providing safe and secure data access complements Mastercard’s data responsibility principles. This relationship reinforces work led by Mastercard’s Finicity team to extend data-related practices across multiple industries. The connectivity of Aiia in Europe enables Mastercard to deliver the credit decisioning and credit scoring applications to European clients.

Aiia is a licenced Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP) and operates under the supervision of the Danish Financial Supervisory Authority (FSA).

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Keywords: MasterCard, Open Banking, expansion, partnership, account-to-account payment
Categories: Banking & Fintech
Companies: Aiia, Mastercard, NORD.Investments
Countries: Europe
This article is part of category

Banking & Fintech






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