Mastercard empowers fintech investment platform NORD.Investments with open banking paymentsSeptember 20, 2022 | Copenhagen
Today, Aiia, a Mastercard company, and NORD.Investments are announcing a new collaboration that will enable quick, easy and secure top-up open banking payments in Denmark's largest independent digital investment advisor platform.
Until today, NORD.Investments customers experienced some challenges when adding funds to the investment platform, as the process involved going through their online bank and manually entering their investment account details to move their money.
With Mastercard’s open banking network, NORD.Investments now facilitates customers to do account-to-account payments in a single, unifying investment platform at the click of a button. This makes the process quicker and easier and reduces human errors that can occur when typing in long digits manually.
Open banking gives consumers complete control over their financial data, and the choice to use that data to power solutions that help make their lives simpler. This new payment solution is set to improve the user experience significantly for more than 7.000 users for which NORD.Investments manages more than 2 billion DKK – a number that’s rapidly growing by the day.
Commenting on the partnership, Anders Hartmann, CEO & Co-Founder of NORD.Investments, says:
“Before we partnered with Mastercard, it was less convenient for our users to invest, as they would have to do this through their online bank. Now we’re able to offer everything on our own platform, making it significantly easier for people to get started with their investment plans. We’re happy to see this collaboration take shape and expect more of our users to add funds to their account as a result. With open banking payments in place, we can truly say that we’re the easiest investment platform to use.”
Commenting on the partnership, Jonas Vogt Rasmussen, VP of Banking Sales at Mastercard, says:
“We’re thrilled to empower yet another promising fintech company in the Nordic region to make it a convenient experience for investors to easily and securely add funds to their investment account through open banking payments directly in the NORD.Investments platform. This encourages more users to add funds to the investment platforms and allows NORD.investments to grow their business - the future possibilities are many.”
NORD.Investments recently achieved an Investment Firm license by the Danish Financial Supervisory Authorities, granting them access to expand the platform into new European markets. With Mastercard as its new open banking partner, the company will be able to scale the top-up payment solutions across Europe too. In the future, NORD.Investments will look into how it can use open banking data to create intuitive user experiences directly in the app.
NORD.investments Fondsmæglerselskab A/S is a fintech company that was founded in 2015 as a reaction to the high costs banks and investment funds take to help their customers being invested. Instead of having expensive advisors and a large branch network, NORD.investments has a simple and easy to use digital platform.
Most things are handled automatically, and therefore costs can be kept to a minimum. Today, NORD.investments is Denmark's largest independent digital investment advisor and is listed on Nasdaq First North in Copenhagen.
About Mastercard (NYSE: MA)
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