NORD.Investments, the Mastercard team on open banking

Mastercard company Aiia is collaborating with NORD.Investments to enable more open banking payments on Denmark’s largest independent digital investment advisory platform, according to a Mastercard press release.

NORD.Investments customers have experienced difficulty adding funds to the investment platform, the process involving going through online banking and manually entering investment account details to transfer money. silver.

Through Mastercard’s open banking network, NORD.Investments will facilitate customers’ account-to-account payments on a single unified investment platform, making them faster and easier and reducing the risk of errors.

“Before partnering with Mastercard, it was less convenient for our users to invest, as they had to do so through their online bank,” said Anders Hartmann, CEO and co-founder of NORD.Investments. “Now we are able to offer everything on our own platform, which makes it considerably easier for people to start their investment projects. We are happy to see this collaboration taking shape and expect more of our users to add funds to their account accordingly. With open banking payments in place, we can truly say that we are the easiest investment platform to use. »

Meanwhile, Jonas Vogt Rasmussen, vice president of banking sales at Mastercard, said the company was looking to “make it a convenient experience for investors to easily and securely add funds to their investment account through bank payments opened directly on the NORD.Investments platform.”

“This encourages more users to add funds to investment platforms and allows NORD.investments to grow their business – there are many future possibilities,” he said.

Paytrail, a Finnish online payment company, has also partnered with Mastercard and Aiia to facilitate open banking, PYMNTS wrote.

Read more: Paytrail, Mastercard partnership boosts Open Banking in e-commerce

Paytrail and Aiia have partnered since 2019 for the cause of open banking, with Paytrail enabling payment options and less hassle in the online payment experience. The method has fewer steps and payment is initiated directly from the bank, rather than manual payment details and switching between applications and interfaces.

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https://www.pymnts.com/news/digital-banking/2022/open-finance-platform-mx-adds-connectivity-insights-mobile-banking/partial/

Michael J. Birnbaum