North Bank Ltd., do business like Danske Bank United Kingdom, confirms its partnership with the European Open Banking platform, Ouch (acquired by Mastercard) to provide digital solutions to help its 20,000+ corporate and business customers through its merchant banking platform, District.
The partnership is expected to offer Danske Bank UK clients a straightforward approach to managing business funds in one place and remove the challenges of switching between banking platforms to get a full picture of their situation. financial in several banks.
The updated ‘Accounts from other banks’ functionality uses Open Banking and provides financial transparency to business customers. In the coming weeks, Danske Bank will be testing this functionality with companies interested in using the product extension.
The partnership opens with a new market entry for Aiia, which will focus on empowering the UK and Ireland with their privacy-focused approach to Open Banking.
Currently, the Open Banking platform connects to over 3,000 banks across Europe and the UK has been identified as an important market in Aiia’s expansion plans for 2022.
David thompson, Head of Digital Channels at Danske Bank UK said:
“We are delighted to sign this agreement with Aiia, which will allow us to provide innovative digital solutions to our customers. Many of our business customers use more than one bank and they told us it was difficult to get an overview of all of their accounts and transactions. In response to this feedback, we have developed “Other Bank Accounts,” which allow businesses to view accounts and payments between banks in a single view on our business banking platform, District. Partnering with Aiia in the UK was the natural fit for us as they showed their full commitment to creating a secure and compliant platform through a quality driven approach.
Jonas Vogt Rasmussen, Head of Banking at Aiia, said:
“We are happy and honored to empower Danske Bank UK and enable the bank to improve the user experience for its business and professional customers. With Aiia, Danske Bank starts by solving the annoying and time-consuming case for multi-bank companies to switch between different banking platforms to get a complete financial overview. The solution will be a one-stop-shop for businesses and shows exactly that the heart of open banking and the future of financial services is providing everyday convenience. Once again, Danske Bank proves that it is at the forefront of digital banking innovation.
For the foreseeable future, Danske Bank UK intends to integrate Open Banking payments and make these features available to its retail clients, as well as fueling various other use cases with the share method. financial datas.