The platform will make the most of developments required under the PSD2, which must be applied in national legislation from January 2018, and aims to encourage new players to enter the payment market.
The bank’s open banking platform will provide third parties access and, as a first-step, it has created a ‘sandbox’ environment where partners can test their new ideas with the bank.
Swedbank has 7.4 million private customers and more than 600,000 corporate customers. It is a full service bank with four home markets, in Sweden, Estonia, Latvia and Lithuania, and international branches worldwide.
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