Open Banking will increase collaboration and competition in the banking industry. While PSD2 empowers non-banks, Open Banking is about changing mindsets and working together. Nordea started signing up beta testers for their PSD2 APIs in February and saw unexpected interest, with over 700 signups in just 72 hours. In response, Nordea accelerated their Open Banking plans and launched partner pilots a year early.

1. The Big Leap
Fast forward with
Open Banking
Jarkko Turunen
FSA Slush Side Event
29 November 2017

2. 2
Open Banking
is about a changed mindset
and a new way of working

3. 3
While PSD2 empower
the non-banks to
increase competition…

4. 4
…Open Banking is a
movement towards
increased collaboration!

5. Tomorrow’s
flexibility
5
Be innovative
with 3rd parties
up here…
…and leave
this untouched
Micro
services
Core
systems
Open
APIs
Apps
Custo-
mers

6. PSD2
Reflections

7. 7
PSD2 Concerns
Fragmented
Landscape
Uncertainties
during
Interim
Period

8. Status of
Open Banking
in Nordea

9. In February, we started to sign up beta
testers for our PSD2 APIs
9
…then it
happened
Signups within
72 hours
300
… and we knew that we now saw the
shape of much bigger things to come!
Total number of
signups
700+
…they just
kept coming
…they were super
enthusiastic

10. As a response, we went into the opportunity side
of Open Banking one year earlier than planned
10
Blogs,
tweets &
news
Let every-
body test
Fintech
meetings
Partner
organisation

11. 11
As the real PSD2 will come later, we work with
Premium APIs in parallel
SMEs
Corporates
Merchants
Households
Pilots

12. 12
First case - Aggregation of accounts across banks
Developed together with a partner

13. Thank you!
Jarkko Turunen, Head of Open Banking Development
jarkko.turunen@nordea.com