Norway-based fintech Horde has selected Open Banking platform Nordic API Gateway to structure loans between friends.
Alongside that Horde has launched a social lending platform in which friends and family can lend each other money in a structured way based on Open Banking payments. The Norwegian fintech aims to consolidate depth into cheaper loans to compete against the high loan rates seen from banks, according to the official press release.
Horde is a fintech company that seeks to disrupt the consumer credit market in the Norwegian banking sector. With the partnership Horde uses access to account aggregation to show a complete overview of consumer loans helping more than 150.000 users consolidate depth into loans.
Next to that Horde is utilising payment initiation from Nordic API Gateway to further expand its offerings by launching the feature ‘Vennelån’ (‘Friend-loan’).
The partnership adds to Nordic API Gateway’s expanding list of Open Banking empowered fintechs that also counts the likes of Nordic fintech companies such as Lunar, Pleo, Billy, Swiipe and Dinero. With the Nordic API Gateway collaboration in place, Horde will be given access to a unified API platform granting them access to account aggregation services and payment initiation services in Norway.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now