Following this announcement, the collaboration aims to optimise Ping Payments’ capabilities within account-to-account (A2A) payments, identity verification, as well as compliance within the Nordin region.
Neonomics is set to manage end-user consents and A2A payments for Ping Payments, which will support the overall Open Banking-powered identity verification process. This procedure, combined with the A2A payments, is expected to significantly strengthen value by fulfilling the need to validate recipients of payouts in several segments of the industry. In addition, Ping Payments will be enabled to benefit from Neonomics’ broad connection to banks and financial institutions across Norway, Denmark, and Finland, as well as to use the capabilities of its Open Banking API platforms.
At the same time, Ping Payments will be allowed to leverage Neonomics account verification solutions in order to mitigate risks and safeguard its transactions, as well as to strengthen the overall payments and compliance processes across customer touchpoints. Both firms will combine their services and expertise in order to provide a secure payment ecosystem, with an optimised customer experience, privacy, and regulatory compliance.
Open Banking provider Neonomics had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world.
At the beginning of December 2023, Neonomics announced its collaboration with Carbon Centrum in order to provide customers with CarbonIDs, a new manner in which companies could track the carbon footprint of their financial operations more accurately. Following this announcement, the enterprises aimed to provide CarbonIDs that represented carbon offsets backed by data. Using the capabilities of Open Banking, the strategic deal was also expected to deliver more accurate measurements of their overall CO2 footprints.
At the same time, both enterprises aimed to merge various data inputs, including customers’ financial transactions, into a unified platform in order to autonomously monitor CO2 consumption at a more detailed level. This strategy aimed to enable firms to efficiently and securely acquire these offsets by establishing connections between individuals, brands, and carbon markets, as well as fostering competitive purchasing opportunities.
Earlier in September 2023, Neonomics announced a partnership with Denmark-based white-label fundraising platform BetterNow in order to optimise digital fundraising with Open Banking. According to the press release published at the time, the companies had a goal set on enabling increasingly efficient and secure digital fundraising solutions to charities across the Nordics.
In addition, the collaboration was expected to roll out Open Banking-powered payments to a multitude of the largest organisations across the Nordic, in order to use a more efficient channel to receive the money. Open Banking offerings were believed to optimise the manner in which charities and charitable causes interacted with their donors, with the immediate benefit being the increasingly fast and efficient payments.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now