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Financial technology pioneer Ferratum Bank has chosen Nordigen as their European partner for open banking insights. The partnership will promote greater financial inclusion by helping extend financial services to Ferratum’s customers.
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In recent years, tech giants like Apple, Google and Amazon have started planting flags in the financial sector, intruding on traditional financial institutions. Facebook is finally joining the race with Libra, its digital currency described as a “simple global currency and infrastructure that empower billions of people.”
As a society, we are gradually moving away from paper cash, increasingly gravitating towards alternative digital payment methods - contactless-cards, cryptocurrency, mobile and wearable technology. Regulatory driven initiatives like EU's PSD2 and UK's Open Banking are propelling financial innovation and enabling the emergence of new products and services.
Accelerate your lending business with our Open Banking analytics products today. Used by global banks, lenders and fintechs.
PrivatBank is expanding its scope of open banking solutions by integrating Nordigen's account data transaction categorisation engine. This allows PrivatBank to make faster, more precise and ultimately more responsible lending decisions.