GoCardless announced that it has concluded plans to acquire open banking data provider Nordigen. Once the acquisition is complete later in the summer, GoCardless will become a notable international bank payment network. Additionally, the successful takeover will enable GoCardless to offer free open banking connectivity at scale.
GoCardless To Speed Up Its Open Banking Strategy
The latest acquisition plan is one among several initiatives that the company has undertaken to expand its network and services. GoCardless has been accelerating its banking strategy since the beginning of 2021, via several collaborations. The latest acquisition will be a vital step toward the company’s open banking goals.
Chief Executive Officer of Nordigen, Roland Mesters, commented on the acquisition deal. He stated that the mission of Nordigen remains the same, which is to enable businesses all over the world to easily adopt and make use of open banking in their operations. This will enable greater financial inclusion and financial transparency between organizations and their clients. He added that both companies have similar growth structures and ideologies, which makes the acquisition an important project for both parties involved.
“The Nordigen acquisition will take us to the next level,” Co-Founder and Chief Executive Officer of GoCardless, Hiroki Takeuchi, stated. He added that the company plans to intelligently combine deep payment expertise with high-tech open banking connectivity to provide exceptional banking-as-a-service to developers, fintech, and other partners.
Open Banking Gains More Adoption And Popularity
The open-access will lead to open experimentation, which provides more beneficial use cases. Takeuchi admitted that the company is looking forward to the development open banking can bring using the talented Nordinge team.
Open banking is increasingly gaining more popularity across Europe over the past few years. Since the start of 2020, startups within the open banking sector have raised a significant amount of money. As one of the leading open banking data providers, Nordigen’s API will be very important towards CoCardless’ expansion in the industry. Presently, the API connects more than 2,300 banks across the European region.