PR96819

LONDON, and RIGA, Latvia, July 1, 2022 /PRNewswire=KYODO JBN/ --

    - GoCardless to offer free access to open banking data

    GoCardless [https://gocardless.com/], the global leader in direct bank

payments, has announced its plans to acquire Nordigen, the freemium open

banking data provider, as it builds on its vision to become the world's bank

payment network. GoCardless will incorporate Nordigen's next-generation open

banking connectivity -- offering the widest coverage in Europe, connecting to

more than 2,300 banks in 31 countries -- into its account-to-account network.

   The acquisition means the fintech will now provide free open banking

connectivity at scale, opening up self-serve access to account information

services (AIS) to everyone. In addition, its suite of premium data products

help improve outcomes across a range of use cases from credit assessments to

customer engagement.

   The announcement is the latest move from GoCardless as it accelerates its

open banking strategy. Over the past 18 months it has launched its open

banking-enabled Instant Bank Pay feature across multiple markets, as well as

Verified Mandates, which combines AIS with direct debit to prevent fraud. This

deal will enable GoCardless to acquire in-house open banking connectivity,

which it plans to build on in the near future by expanding coverage and adding

new payment types such as Variable Recurring Payments.

   Hiroki Takeuchi, Co-founder and CEO of GoCardless, said: "Over the past few

years it's been amazing to watch open banking grow from a trend on the horizon

to a global phenomenon which has given rise to a market worth over $400

billion. We realised early on that this technology would drive bank payments

for decades to come and over the last 18 months, we've accelerated our push

into open banking as part of our vision to build the world's bank payment

network.

   The Nordigen acquisition will take us to the next level. By intelligently

combining free, state-of-the-art open banking connectivity with deep payment

expertise, we can now offer open banking-as-a-service to any developer, partner

or fintech. We believe this open access will lead to experimentation, and that

will create even more compelling use cases. We're excited to redefine what open

banking can do with the talented Nordigen team now on board."

   Rolands Mesters, CEO Of Nordigen, said: "At Nordigen, our mission is to help

businesses around the world adopt and utilise open banking, enabling greater

financial transparency and financial inclusion. We share GoCardless's

excitement about the growth of open banking, and we're delighted to join forces

with a group of people who not only share our passion for driving game-changing

innovation in financial services, but will also help us bring free open banking

access to a far wider audience."

   The deal is expected to close later in the summer. Further terms of the

acquisition were not disclosed.

   About GoCardless

   GoCardless [http://gocardless.com/] is a global leader in direct bank

payment solutions, making it easy to collect both recurring and one-off

payments directly from customers' bank accounts through direct debit and open

banking. The GoCardless global payments network and technology platform take

the pain out of getting paid for 70,000 businesses worldwide, from

multinational corporations to small businesses. Each year GoCardless processes

over US$30 billion of payments across more than 30 countries. GoCardless is

headquartered in the UK, with additional offices in Australia, France, Germany

and the United States. For more information, please visit www.gocardless.com

[http://www.gocardless.com/] and follow us on Twitter @GoCardless

[https://twitter.com/GoCardless].

   (C) 2022 GoCardless Ltd. All Rights Reserved. GoCardless is a registered

trademark of GoCardless Ltd in multiple countries. Third party trademarks

mentioned above are owned by their respective companies. Unless explicitly

identified as such, nothing in this press release should be construed to the

contrary, or as an approval, endorsement or sponsorship by any third parties of

GoCardless Ltd. or any aspect of this press release

   About Nordigen

   Nordigen is a freemium open banking platform that provides free access to

open banking data and premium data insights. Nordigen's free API connects to

more than 2,300 banks in Europe and serves fintech companies and developers in

31 European countries, including the UK. Nordigen is a licensed Account

Information Service Provider (AISP), regulated by the Financial and Capital

Market Commission of Latvia and authorised in 31 European countries.

   For more information, contact:

   Linda Yang

   Global Head of PR, GoCardless

   lyang@gocardless.com

   +44 7533575155

   Photo:

https://mma.prnewswire.com/media/1852049/GoCardless_to_acquire_Nordigen.jpg

SOURCE GoCardless