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Danske Bank makes open banking push

Danske Bank is embracing the open banking era, revamping its mobile app to let Nordic customers view data from their accounts with other providers.

From April, Swedish customers will be able to gather payment and bank details of all the banks that they use and see it within the app. Denmark, Norway and Finland will follow later in the year.

The move is connected to PSD2, which, among other things, means customers can access their data at banks and exchange them with other service providers.

Lars Malmberg, global head, business development, Danske Bank, says: “Bank customers who use several banks currently need different mobile banking or online banking solutions to gain a total overview of their finances.

“However, we are seeing an increasing demand for solutions that provide a total overview of financial data in an easy and simple manner.”

Earlier this month, Danske was one of the few banks to get onboard the UK’s Open Banking initiative from the get go. Alongside Allied Irish Bank, and Lloyds, it is now letting authorised third parties use APIs to gain access to customer data.

In the Nordics, Danske is prepping a sandbox for developers to play with its APIs ahead of a proper launch along the lines of the UK model at a later date.

“The UK is a frontrunner within Open Banking. Accordingly, the market development will give an indication of what we can expect in other European countries once PSD2 really comes into force,” says Søren Rode Andreasen, chief digital officer, Danske Bank UK.

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