OP Financial Group signs Minna Technologies to advance open banking
Minna Technologies, a Swedish banking tech start-up, has sealed a partnership deal with OP Financial Group, Finland’s largest financial group.
The two companies first started working together in 2018 at OP’s Open Banking Startup Partnership Programme, and the latest deal is the extension of that collaboration.
Minna Technologies is an authorised Payment Initiation Service Provider (PISP) and Account Information Service Provider (AISP), operating under the supervision of the Swedish Financial Supervisory Authority (FSA).
Using Minna’s tech, OP will be able to better to capitalise on its Open Banking Strategy and PSD2 APIs developed for third-party providers, the vendor says. CEO Joakim Sjöblom describes OP as “a leader in the Finnish market in terms of innovation, customer focus, and delivery of excellent customer experience”.
“This partnership is a great example of the importance of finding the right match in partners,” comments Masa Peura, SVP of payments and personal finance management at OP, adding that the bank was “impressed by Minna Technologies’ innovation and technical capabilities”.
As for the tech firm, taking part in OP’s start-up programme was “a great opportunity to get to know the OP organisation, validate the technical approach, as well as the need for subscription management in the Finnish market”, says John Nyström, country manager for Finland at Minna Technologies.
Starting as a consumer application for subscription management (Mina Tjänster) in 2016, Minna Technologies has grown since to become an integrated platform for retail banks and service providers in the Nordics to improve the digital banking experience.