Mastercard company Aiia is collaborating with NORD.Investments to allow more open banking payments in Denmark’s largest independent digital investment advisor platform, a press release from Mastercard said.
The customers for NORD.Investments have seen challenges while adding funds to the investment platform, with the process involving going through the online bank and manually entering investment account details to move money.
Through Mastercard’s open banking network, NORD.Investments will facilitate customers’ account-to-account payments in a single unifying investment platform, making it quicker and easier and cutting down the possibility of errors.
“Before we partnered with Mastercard, it was less convenient for our users to invest, as they would have to do this through their online bank,” said Anders Hartmann, CEO & Co-Founder of NORD.Investments. “Now we’re able to offer everything on our own platform, making it significantly easier for people to get started with their investment plans. We’re happy to see this collaboration take shape and expect more of our users to add funds to their account as a result. With open banking payments in place, we can truly say that we’re the easiest investment platform to use.”
Meanwhile, Jonas Vogt Rasmussen, VP of Banking Sales with Mastercard, has said the company is looking to “make it a convenient experience for investors to easily and securely add funds to their investment account through open banking payments directly in the NORD.Investments platform.”
“This encourages more users to add funds to the investment platforms and allows NORD.investments to grow their business – the future possibilities are many,” he said.
Paytrail, a Finnish online payment company, has also partnered with Mastercard and Aiia to facilitate open banking, PYMNTS wrote.
Paytrail and Aiia have partnered since 2019 on the open banking cause, with Paytrail allowing for payment options and less hassle at the online checkout experience. The method comes with less steps and the payment is initiated directly from the bank, rather than from manual payment details and switching between apps and interfaces.