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Nordigen to offer free API

Tuesday 26 January 2021 10:55 CET | News

Latvia-based fintech startup, Nordigen, has announced it will be offering free API – a move which could see millions more customers potentially access credit services.

The account data analytics platform for app building, onboarding flows, and customer experience will be offering a free application programming interface for accessing bank account information. The move follows on from a successful funding round in Q3 2020, for the fintech startup, which raised USD 800,000 for further expansion from the VC firms Seedcamp and Inventure. 

To date, the company has raised USD 1.4 million and has taken a cautious approach to accruing capital so it can remain circumspect on its areas of spending. The decision not to charge for API is aimed at overcoming one of the major obstacles in the potential of open banking, namely the expense of harnessing raw data. 

Though Nordigen is essentially a bank data analytics company, it is now looking at repositioning itself as a freemium open banking API.

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Keywords: Nordigen, Latvia, free product, API, Open Banking, Open Data, raw data, data gathering, Open Finance
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Europe
This article is part of category

Banking & Fintech