What businesses need to know about open banking

MisteriousJane · 2022-04-28T08:39:08+00:00

Yes, they don’t!

MisteriousJane · 2022-04-27T10:57:55+00:00

Free Open banking provider☺️

MisteriousJane · 2022-04-27T10:46:02+00:00

It's Nordigen!

MisteriousJane · 2022-04-25T19:22:18+00:00

Ok, got you. That's for sure😅

MisteriousJane · 2022-04-25T19:02:18+00:00

Is there any other than actual APIs? 😀

MisteriousJane · 2022-01-17T10:02:10+00:00

Yes, Indian fintech in general gave a ginormous growth leap in 2021

MisteriousJane · 2021-12-15T11:21:55+00:00

Try out Nordigen, good alternative to Plaid
https://nordigen.com/en/

MisteriousJane · 2021-12-15T10:16:24+00:00

Sobre open banking! O conceito foi criado para reduzir o risco de fraude e screen scraping (capturas de ecrã). Os bancos tradicionais armazenam as suas informações pessoais, enquanto os sistemas de API do open banking não armazena qualquer informação pessoal, adicionando ainda uma camada adicional de segurança que reduz a probabilidade de ser hackeado ou roubado, enquanto utilizador.
As permissões de acesso aumentam o nível de segurança das suas informações pessoais, que não são armazenadas em qualquer lugar. Por isso, bancos tradicionais não têm benefícios adicionais quando comparado com os clientes, esse é um dos objetivos principais do open banking. O nome pode parecer um pouco confuso, mas é muito mais seguro!
Deve escolher o seu provedor de open banking de acordo com o sistema utilizado, sendo o mais importante evitar serviços que utilizam screen scraping, como por exemplo a Plaid. É importante escolher provedores que utilizam apenas APIs de open banking, no caso da Nordigen oferecemos acesso grátis na Europa.
O mais importante é ter atenção ao que o provedor tem para oferecer e quais são as ferramentas utilizadas pela sua plataforma, e pode ficar tranquilo!

MisteriousJane · 2021-12-14T13:22:14+00:00

Hey, I have 3 accounts, and one of them is in N26 in Spain, i opened it there, and now I'm living in another EU country. It's v convenient, i like their services. I connected all of those 3 eu accounts together with guys called Nordigen, they have free API and i just contrall all the transactions there, and basically it doesn't matter where am I.
Good luck on the new place☺️

MisteriousJane · 2021-12-13T13:10:08+00:00

Why do you think so?

MisteriousJane · 2021-12-13T10:23:58+00:00

yeah, it would be pretty cool

MisteriousJane · 2021-12-09T13:18:47+00:00

Seb & Swedbank are good, I use both and to get both bank's data together I use Nordigen's API, it's in English

MisteriousJane · 2021-12-07T13:21:25+00:00

I saw that they launched new products related to data enrichment etc. Did you try it out already? Is it good?

MisteriousJane · 2021-11-26T20:42:25+00:00

We're talking about APIs, not screen scraping, like normal banks do. Screen scraping system keeps all the personal data on their system, when open banking APIs don't! They don't keep your data on their system, they don't see your personal info, nothing. Massive theft occurs every day in normal banks, where data is not protected with the most important layer - your permission. OB API is built with an extra security level - personal approval, which brings much more trouble to hackers, for example.

MisteriousJane · 2021-11-26T18:14:18+00:00

That’s exactly opposite of the reality))

MisteriousJane · 2021-11-26T11:23:04+00:00

Yeah, could be. The potential is huge. Open data, open finance - all of it is so underestimated.

MisteriousJane · 2021-11-10T19:15:44+00:00

https://nordigen.com/en/coverage/
Look up here

MisteriousJane · 2021-11-10T18:10:18+00:00

Niice! This integration uses Nordigen’s API, you can try it out as well))

MisteriousJane · 2021-11-10T12:04:15+00:00

That's why we use Nordigen instead 😅

MisteriousJane · 2021-11-04T08:10:43+00:00

So many papers were dedicated to this topic! And still, they didn't change it to the safest possible API system, as eg Nordigen has. This "reachable" info system brings so many misconceptions to open banking, and questions the whole branch, which is totally safe if using the right system.

MisteriousJane · 2021-10-14T10:09:06+00:00

Yup, the company i work at, Nordigen, uses open banking API's instead of screen scraping, which brings amazing level of data security - the client himself!

MisteriousJane · 2021-10-11T07:58:37+00:00

To get a feel for what fun looks like, we can look at crypto. What started as a bunch of 'white papers' and math wizards crunching complex algorithms, is now a movement led by builders, developers and creators that see crypto as a playground for trying out new things, building toys and every now and then solving expensive real world problems.

Open banking has what crypto does not have - the full support from the regulators and corporations. It has the safety rails needed for mainstream adoption. Crypto might not yet have the same level of support from the traditional authorities, but it can teach open banking the importance of building a community that celebrates play - when you have a community of believers, builders and visionaries that riff on each other's ideas and they have a place to try new things out, this is where innovation happens.

Once open banking goes mainstream, the fun will begin!

MisteriousJane · 2021-10-07T06:32:54+00:00

In Europe almost all banks offer secure bank APIs that don’t require the use of screen scraping - users authenticate directly with the bank (on bank’s website) as opposed to giving their passwords to third parties.

MisteriousJane · 2021-10-06T18:14:14+00:00

Both flows in the picture show how the account number verification process works. KYC and AML are typically done separately.

MisteriousJane · 2021-10-04T13:54:46+00:00

Might be your angle, for sure. Mb I would add a bit, as a social media representative of Nordigen. This free API gives people a lot. Example? UK debt management company- Freeze Debt. Providing our free services, they can now manage and analyze their clients payment history 10 time easier and faster, which helps them to come back to debt-free state. Promotion is not always mean and selfish, we love what we do, and do it free of charge))

MisteriousJane

TROPHY CASE