French payments firm Worldline signs a commercial partnership deal with Neonomics to strengthen its open banking offerings in Europe.
Worldline is expanding its account-to-account payments and data aggregation coverage to the Nordics through the Oslo-headquartered open banking provider, into regions including Norway, Sweden, Denmark and Finland.
The partnership is extending Worldline’s open banking data and payments infrastructure to financial institutions in the Nordic region.
In return, Neonomics is set to benefit from the payment firm´s position in the European open banking network. It is extending its coverage to several additional core European markets in line with addressing existing customer needs and regulatory approval prior to integration.
The partnership places both companies on track to become the first pan-European pure PSD2 API providers, servicing merchants, banks and acquirers.
Creating a successful open banking ecosystem
The partnership realises the importance of high-quality connectivity to open banking, an element it is hoping to achieve through PSD2-compliant APIs.
This approach is to reach approximately 3,500 banks in 22 countries across Europe.
Worldline is leveraging its credit insight, account-based payments and green banking solutions to enable third-party providers to create value propositions for their customers.
As a result of the partnership, the payments firm is also offering merchants, banks, and acquirers access to aggregated financial data and account-to-account payments.
Using Neonomics’ API will not only expand the firm’s European coverage but reduce the time to market for its products and solutions.
The interplay of these partners is an essential component of a successful open banking ecosystem to the benefit of players in Europe’s payments industry.
Michael Steinbach, Worldline’s head of global business line financial services, describes Neonomics’ bank API platform as “robust” and with “a technical set-up that supports our need to work with partners that can offer highly secure services in both today’s and tomorrow’s regulatory environment.”
“By working together, we can make open banking an even more pan-European offering that helps to streamline payments and enables access to banking account data,” continues Steinbach.
Christoffer Andvig, CEO of Neonomics, adds that the partnership aims to “spur the growth of account-to-account payments and to continue driving innovation on the data side through Worldline.”