GoCardless will incorporate Nordigen’s Open Banking connectivity – offering a wide coverage in Europe, connecting to more than 2,300 banks in 31 countries – into its account-to-account network.
The acquisition means the fintech will provide free Open Banking connectivity at scale, opening self-serve access to account information services (AIS) to everyone. In addition, its suite of premium data products helps improve outcomes across a range of use cases from credit assessments to customer engagement.
The announcement is the latest move from GoCardless as it accelerates its Open Banking strategy. Over the past 18 months it has launched its Open Banking-enabled Instant Bank Pay feature across multiple markets, as well as Verified Mandates, which combines AIS with direct debit to prevent fraud. This deal will enable GoCardless to acquire in-house Open Banking connectivity, which it plans to build on in the near future by expanding coverage and adding new payment types such as Variable Recurring Payments.
The deal is expected to close later in the summer of 2022. Further terms of the acquisition were not disclosed.
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