Nordigen provides analytical solution use-case to SEB

SEB in the Baltics is cooperating with Nordigen to test Nordigen's transaction categorization and behavioral analysis capabilities.

With the introduction of its API platform, SEB is already one of the banks at the forefront of delivering open banking infrastructure. While the Payment Services Directive 2 (PSD2) that regulates Open Banking in Europe is yet to be fully adopted, most innovative banks are already investing in solutions and data analytics that will create future value for their clients.

“We're very excited for the opportunity to work with SEB and see our solution being tested by the industry's leading professionals. SEB focuses solely on products that can add clear value to its customers. We can confidently say that the entire Nordigen team is dedicated to supporting these goals,” says Rolands Mesters, co-founder and CEO of Nordigen.

Banks committed to ensuring their customer success need to become early adopters of Open Banking and leverage new opportunities to their advantage. SEB and Nordigen have partnered to test how Nordigen solutions can help SEB reach their strategic goals.

“During 2018 SEB kicked off several Open Banking activities across the Baltic to welcome cooperation with fintechs. Nordigen was among those companies participating and initiating the first cooperation with SEB. It has been a very valuable learning experience to understand to what extent machine learning can be applied to the benefit of our customers,” commented the Head of Digital Strategy Ragnar Toomla at SEB in the Baltics.

Nordigen is a fintech company established in 2016 with a mission to help banks and lenders leverage the opportunities of open banking and approve more creditworthy customers. The company specializes in account data analytics by providing transaction categorization and behavioral scoring services. Nordigen currently operates across 13 countries, including Spain, Germany, Poland, Czech Republic, Sweden, Denmark, Finland, Latvia, Estonia, Lithuania, Australia, New Zealand and Brazil.

SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long-term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and UK the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide.