Pleo speeds up innovation with smooth access to bank data with Nordic API Gateway

Nordic API Gateway is setting new standards for the accounting industry across the Nordics. Today, the open banking platform announces its partnership with Pleo, a collaboration that will accelerate access to transaction data and give Pleo the ability to build an even better customer experience for its more than 5.000 business customers.

We’re happy to enter into a partnership with Nordic API Gateway, which provides us with full access to all business accounts in the Nordics. In addition to creating a faster top-up payment system to benefit our customers, the full coverage gives us new opportunities on the product front. With access to our customers' bank data, we’re now able to see transactions in just a few seconds. Because of this, we can transfer the deposits directly to the customers’ Pleo cards faster than ever. That has a huge value for our business and, more importantly, our customers, says Jeppe Rindom, CEO & Founder of Pleo.

According to Rindom, the new partnership is solving the number one pain point of Pleo’s customers by bringing down the time from days to seconds for funds to appear on their Pleo cards. Commenting on the new partnership, Nordic API Gateway CEO and Founder, Rune Mai, is excited about partnering with one of the most successful fintechs in the Nordics, and states the importance of Nordic API Gateway’s access to business accounts and wide coverage of banks:

We’re excited to provide Pleo with simple access to financial data and enable a frictionless financial experience for their customers across the Nordics. Our platform and services allow all kinds of industries to take full advantage of PSD2, and this partnership sits well in line with our aim to empower the accounting industry where we’re the leading open banking provider.

Nordic API Gateway has become an open banking platform heavyweight, delivering innovation to the accounting industry and cementing partnerships with the vast majority of SME accounting systems. In fact, the accounting industry is, according to Mai, one of the industries that will benefit most from PSD2 and open banking opportunities, with contributing factors including automation and a reduction in processes and costs. It took Pleo less than three weeks to go live with Nordic API Gateway’s account information services. Moving forward, Pleo will use the open banking platform to scale their offering further into Europe; both parties view this as a fruitful collaboration that will evolve well into the future.

About Nordic API Gateway

Nordic API Gateway is the most pioneering aggregator of financial data in the Nordics. The platform enables access to financial data and account-to-account payments, so its customers can offer better solutions to theirs. Based in Denmark, the open banking platform has the most extensive coverage of banks – personal and business accounts – in the Nordics. Launched in 2016, the business has received backing from Danske Bank and DNB due to the myriad innovation possibilities its technology provides. Nordic API Gateway was developed to standardise the format of financial data and payments, enabling frictionless financial futures for all. Today Nordic API Gateway delivers a go-to-market open banking platform, so clients can deliver breakthrough solutions to their customers.

About Pleo

Designed to reduce the burden of managing and approving expenses, Pleo is a smart company card solution that decentralises company spending and simplifies bookkeeping. The company’s ambition is to inject trust and transparency into work-related spending, while at the same time providing the answer to modern businesses that want to skip the hassle of approving company expenses. Today, Pleo has more than 5000 business customers and has issued tens of thousands of Pleo cards across the Nordics to small and medium-sized businesses alike.