I-Finance Services , a Netherlands-based fintech, has chosen Nordigen as their Open Banking service provider, facilitating a better understanding of their users' finances. I-Finance Services specialises in loan servicing, customer acceptance, and financial management.

The loan servicing aspect of their business includes white-label lending, portfolio management, creditworthiness assessments, and legal collections. According to the official press release, their credit assessments are flexible and tailored to the needs of their clients. I-Finance Services also specialises in the full-service development of custom application portals for businesses in the banking, insurance, energy, and mortgage sectors.

To meet their clients wishes, the customised portals of I-Finance Services are fully configurable. The core of I-Finance Services' financial management is the I-Finance Invoicing Platform (IFP). Customers determine the parameters by, for example, choosing automatic invoicing by post or e-mail or whether to use direct debit.

The customer acceptance services of I-Finance Services are suitable for organisations that run a financial risk when they offer their services to their customers. These organisations provide services whereby the customers often ensure payment of the services by means of future monthly installments. The partnership between Nordigen and I-Finance Services By partnering with Nordigen, I-Finance Services have further improved their loan servicing solution (consumer lending and handling of the loan administration) in the Netherlands.

Since Nordigen has access to data of more than 2,300 European banks in over 31 countries, they are now able to offer I-Finance Services to customers in the rest of Europe as well. The integration with Nordigen provides I-Finance Services with Open Banking connectivity, facilitating comfortable and secure data sharing between the customer and the financial institution. At the beginning of 2022, I-Finance Services partnered with Buddy Payment and their free Buddy App.

The Buddy App sets the fixed costs aside and gives an overview of the budget that can be spent freely. It also automatically saves for users. The collaboration contributes to their goal to operate reactively, but preventively no longer.

Nordigen’s acquisition In July 2022, Nordigen has been acquired by GoCardless, a direct bank payments provider, incorporating Nordigen’s Open Banking connectivity into its account-to-account network. The acquisition means the fintech will provide free Open Banking connectivity at scale, opening self-serve access to account information services (AIS) to everyone. In addition, its suite of premium data products helps improve outcomes across a range of use cases from credit assessments to customer engagement.

Open Banking is a once-in-a-generation technological change which has given rise to a market worth over USD 400 billion. Having Open Banking connectivity in-house helps companies improve payment features roll them out to more markets, faster, as well as developing new products and features. .