Nets Teams Up with Bankify in Open Banking Partnership

January 27, 2020

Bankify, a Finnish fintech company, and Nets, a leader in the payments industry, have entered into a strategic partnership that enables Bankify’s customers to consume Bankify’s services through Nets’ Open Banking platform. Under the terms of the partnership, Nets customers will also have easy access to Bankify’s portfolio of microservices via the platform.

Bankify enriches the user experience of existing financial applications to align it with the needs of digital native customers. The services are developed by focusing on customer-centric use-cases using gamification, education, personalisation and social interaction.

Georg Olav Ramstad, Head of Open Banking Sales and Business Development at Nets says: “Bankify is an expert in keeping up with the demands of digital customers. Together, our combined offerings will accelerate the digital transformation of financial institutions. We are really looking forward to an exciting partnership with Bankify.”

The Open Banking Access from Nets provides PSD2-enabled account access to banks with a single-point-of-integration, instead of several integrations to multiple banks. With the solution from Nets, third parties can connect once and then refocus on delivering business value. Nets powers customers’ businesses by delivering an efficient access infrastructure for open API-based services.

Building blocks for future financial applications

Bankify has already launched eight microservices, each of which utilises a simple open API connection to improve the user experience of existing financial applications, and enable a variety of new use-cases, including social finances, gamified savings and group payments combined with a virtual card solution.

Antti Tarakkamäki, Co-Founder at Bankify, says: “With the Open Banking Access from Nets we can connect our offerings via a single integration, providing our customers access to multiple banks in the Nordics. This makes our microservice offering even more relevant, easier to implement, faster and more cost-efficient for our customers.”

Bankify has conducted extensive user research during the last two years with the Millennial and Gen-Z users, globally. These segments require more personalised and engaging features, which represents Bankify’s core area of specialism.


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