Nordigen

Nordigen is an open banking platform with a suite of products that helps companies in building financial applications which can interact with bank accounts and automatically gain insights to add value to the data. With just one API call users can identify basic identity information or get a detailed income overview for that person, including data points like projected income and income stability. The platform is designed to help banks, lenders and fintechs to develop apps that easily sync with customers bank account data, speed up the customers onboarding process, verify your customer identity, use cleansed data from bank statements to make informed decisions.

The vendor states their clients are Banks, Lenders, Fintechs and companies from other industries who use Nordigen to make improvements in risk assessment of borrowers, check the amount of income, verify identity, improve customer onboarding and different other use cases. One client, BigBank, is a lender in several European countries, Nordigen has helped improve their bank statement analysis speed (according to the vendor) one hundred times. They further state that by using Nordigen API, other companies have increased their lending volumes, increased loan acceptance rates, overall efficiency and revenue.