Lunar picks Nordic API Gateway to enable account aggregation
Danish challenger bank Lunar has picked up Nordic API Gateway to enable multi-banking features, payments and account aggregation on its platform.
Lunar is aiming to activate these new services cross Denmark, Sweden and Norway. The challenger says it will be one of the first Danish banks with fully-functional aggregation and payment initiation.
“We have a strong ambition to create a financial super app to let our users manage all their finances across banks in one place,” says Joachim Strøjer Hansen, chief product officer at Lunar.
“To deliver the future of banking services, we’re creating a digital banking experience that is second to none.
“We are excited to work with Nordic API Gateway especially to offer payment initiation for our users.”
Lunar has also announced the launch of a new business bank account. The bank is offering a paid-for premium account for €265 per year.
Leading the new business initiative is Jacob Faber, former head of start-ups and growth at Nordea Business.
The bank says it has already rolled out the new product to 2,000 test users, of whom 90% are willing to pay for a full subscription.
New in the Nordics
Lunar started out as a personal finance management (PFM) app. It secured its banking licence in August 2019.
It claims to have more than 150,000 users across Denmark, Sweden and Norway.
The firm has raised €74.7 million across six funding rounds since its 2015 founding. Its last injection saw €21.6 million added to a Series B. Former Monzo head of product Ole Mahrt jumped on board not long after.
In October 2019, it picked Temenos to power its anti-money laundering (AML) and Know Your Customer (KYC) services.