Horde Picks Nordic API Gateway for Open Banking Ambitions
- Open Banking
- 11.03.2021 01:43 pm
Today Nordic API Gateway further scales its ﬁntech reach in Norway by empowering one of the fastest growing ﬁntech companies Horde. With the open banking collaboration, Horde is making it possible to manage loans and receive better loan opportunities by consolidating credit card debt. Alongside that Horde has launched a social lending platform in which friends and family can lend each other money in a structured way based on open banking payments.
Horde is a ﬁntech company that seeks to disrupt the consumer credit market in the Norwegian banking sector. With its consumer-focused approach, it has grown to become a major challenger for the traditional players.
With the partnership Horde uses access to account aggregation to show a complete overview of consumer loans helping more than a 150.000 users consolidate depth into cheap loans. Next to that Horde is utilizing payment initiation from Nordic API Gateway to further expand its offerings by launching the feature ‘Vennelån’ (‘Friend-loan’) which is expected to be a game changer for private loans in the Nordics.
The partnership adds to Nordic API Gateway’s quickly expanding list of open banking empowered ﬁntechs that also counts the likes of Nordic ﬁntech companies such as Lunar, Pleo, Billy, Swiipe and Dinero. With the Nordic API Gateway collaboration in place, Horde will be given access to a uniﬁed API platform granting them access to account aggregation services and payment initiation services in Norway.
Commenting on the partnership, Alf Gunnar Andersen, CEO & Founder of Horde, says: “Having browsed and tested the open banking landscape for quite some time, we’ve chosen Nordic API Gateway due to the proven quality of the platform. They’re delivering the most stable open banking connection which is crucial for our users. With this new feature, we’re using open banking to structure and facilitate loans between friends and family by using account aggregation and payment initiation which basically will make it easier than ever to do social lending. We believe it will be a stepping stone to open a new chapter for Horde to empower Norwegian consumers even further with new loan opportunities”
Rune Mai, CEO & Founder of Nordic API Gateway, also commented on the collaboration saying: “We’re happy to see Horde choose Nordic API Gateway based on the quality and service of our platform. Building the kind of quality platform that allows clients to successfully build and launch services in a fragile open banking world requires true craftsmanship. We focus on the tiniest details - from quickly ﬁxing issues with bank APIs and ensuring the compliance of our clients to effective onboarding with our straightforward communication principles - and we do it with a local mentality of each market we operate in ... no matter what market that might be.”
The new social lending platform is already being rolled out in Norway this week and is expected to be further expanded in the Nordics in the future.