Nordea launches Instant Reporting API

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Nordea is taking Open Banking beyond PSD2 with the launch of Instant Reporting for corporate customers to download their accounts and transactional data into their own systems.

Initially launched in Sweden and Finland, the new tech moves beyond legal requirements in PSD2 to provide customers with fresh real-time account data each time they log in to their own inhouse file-based systems.

Gunnar Berger, head of Nordea Open Banking, says: The exciting thing with our new product, Instant Reporting, is that it gives corporates the chance to directly access their real-time data which will have a big impact on the way they organise their businesses, freeing up valuable time and resources.”

Erik Zingmark, Head of Transaction Banking at Nordea, says: “After taking the leading position in Open Banking in the Nordics, I am delighted to see that we can now offer the first real commercially viable product from the project and one that has the potential to benefit many customers. This launch is just the first of many great products ahead resulting from Nordea Open Banking”

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