HES FinTech and Nordigen Partnership: Lending Solutions for Open Banking
We are excited to announce our partnership with Nordigen — a freemium open banking platform. Together, we’ll work on simplifying open banking adoption in Europe and beyond and delivering end-to-end digital lending solutions with multiple Fiserv providers.
What is Nordigen?
Nordigen is an authorized Account Information Service Provider that offers free access to bank data via open Application Programming Interface (API), which means you can get connected to over 2,300 banks in 31 European countries and improve financial services using Nordigen’s services. Their products are safe due to compliance with the Payment Services Directive (PSD2).
Based in Latvia, Nordigen works with small and medium fintech enterprises all around the world. They aim to help businesses start their way in open banking and make the financial industry more inclusive and transparent.
What will our partnership add to the HES solutions and FinTech industry?
Our partnership with Nordigen will allow us to deliver solutions with a seamless and easy loan application process. Your clients will only need to give consent for access to their bank information, and you will get their bank account number for payments and loan auto-debits. That is not only convenient for your clients but also eliminates human mistakes.
Also, you can use clients’ bank information to improve internal processes. For example, you can include the client’s history of income and expenses into the scoring algorithm, check how much they already spend on different credits, and verify that they have enough money in their bank account before starting an auto-debit transaction.
Finally, we want to highlight that Nordigen’s products are completely safe, as they are Payment Services Directive (PSD2) compliant. That means that Nordigen accesses customers’ data using the Strong Customer Authentication (SCA) protocol and relies on the information, property, or biometrics that is available only for a customer.
As you can see, this partnership provides new opportunities to reduce the amount of paperwork needed and make access to the lending industry easier than ever.
Both Dmitry Dolgorukov (HES FinTech CRO and Co-Founder) and Rolands Mesters (Nordigen CEO and Co-founder) are financial market experts with a long-standing interest in open banking, transforming market trends, and digital hurdles.