The acquisition means the fintech will now provide free open banking connectivity at scale, opening up self-service access to account information services (AIS) to everyone. Additionally, its suite of premium data products helps improve results across a range of use cases, from credit scores 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 Instant Bank Pay feature, compatible with open banking, in several markets, as well as Verified Money Orders, which combines AIS and Direct Debit to prevent fraud. This agreement will allow GoCardless to gain open banking connectivity internally, which it plans to build on in the near future by expanding coverage and adding new payment types such as variable recurring payments.
Hiroki Takeuchico-founder and CEO of GoCardless, said: “Over the past few years, it has been amazing to see open banking grow from a trend on the horizon to a global phenomenon that has spawned a market worth more than 400 billion dollars. We realized early on that this technology would drive banking payments for decades to come and over the past 18 months we have accelerated our push towards open banking as part of our vision to build the global payments network banking.
The acquisition of Nordigen will take us to the next level. By cleverly combining free, state-of-the-art open banking connectivity with deep payment expertise, we can now offer open banking as a service to any developer, partner or fintech. We believe this open access will lead to experimentation, which will create even more compelling use cases. We are excited to redefine what open banking can do with the talented team at Nordigen now on our side.”
Rolands Mesters, CEO of Nordigen, said“At Nordigen, our mission is to help businesses around the world adopt and use open banking, enabling greater financial transparency and financial inclusion. We share GoCardless’s enthusiasm for the growth of open banking, and we are thrilled to partner with a group of people who not only share our passion for driving game-changing innovations in financial services, but who will also help us bring free access to open banking to a much wider audience.
This agreement was signed on June 30, 2022 and is expected to close later this summer. Other terms of the acquisition were not disclosed.
GoCardless is a global leader in direct bank payment solutions, facilitating the collection of recurring and one-time payments directly from customers’ bank accounts through direct debit and open banking. GoCardless’s global payments network and technology platform makes payments simple for 70,000 businesses worldwide, from multinationals to small businesses. Every year, GoCardless processes more than $30 billion payments in over 30 countries. GoCardless is headquartered in the UK, with additional offices in Australia, France, Germany and United States. For more information, visit www.gocardless.com and follow us on Twitter @GoCardless.
© 2022 GoCardless Ltd. All rights reserved. GoCardless is a registered trademark of GoCardless Ltd in several countries. The third-party brands mentioned above belong to their respective companies. Unless explicitly identified as such, nothing in this press release should be construed to the contrary, or as an endorsement, approval or sponsorship by third parties of GoCardless Ltd. or any aspect of this press release.
Nordigen is a freemium open banking platform that provides free access to open banking data and premium data insights. Nordigen’s free API connects to over 2,300 banks in Europe and serves fintech companies and developers in 31 European countries, including the UK. Nordigen is an authorized Account Information Service Provider (AISP), regulated by the Securities and Exchange Commission of Latvia and authorized in 31 European countries.
For more information contact:
Global PR Manager, GoCardless