Danish fintechs partner to set new standards for accounting industry
Nordic API Gateway is “setting new standards for the accounting industry across the Nordics”, partnering with smart company card fintech Pleo to accelerate access to transaction data.
The open banking platform has created a hassle-free, rapid solution which speeds up the time it takes Pleo’s some 5,000 business customers’ top-up payments to reach their prepaid card, bringing the time down from days to seconds for funds to appear.
The partnership also provides Pleo with full access to all business accounts in the Nordics, giving the Danish fintech full coverage which it hopes will lead to “new opportunities on the product front”.
“With access to our customers’ bank data, we’re now able to see transactions in just a few seconds,” says Pleo’s CEO and founder Jeppe Rindom. “Because of this, we can transfer the deposits directly to the customers’ Pleo cards faster than ever. That has a huge value for our business and, more importantly, our customers.”.
The “fruitful collaboration” between Pleo and Nordic API Gateway took less than three weeks to go live, and looking to the future the smart card provider wants to use the open banking platform to scale their offering further into Europe as well as the Nordics.
“Our platform and services allow all kinds of industries to take full advantage of Revised Payment Service Directive (PSD2), and this partnership sits well in line with our aim to empower the accounting industry where we’re the leading open banking provider,” says Nordic API Gateway’s CEO and founder Rune Mai, who is excited to gain greater access to business accounts across the region.
With the rise of automation and a focus on reduction in processes and costs, Mai thinks accounting is one of the industries that will benefit most from PSD2 and open banking opportunities.