October 20, 2022 | Louise Basse
Based in Copenhagen, NORD.Investments is Denmark’s largest roboadvisor platform. Since it was founded in 2015, the company has created more than 75,000 investment plans for its users.
Recently, NORD.Investments teamed up with Aiia, a Mastercard company, to integrate open banking payments – and now, the investment platform is live with its new payment solution that enables customers to top up their investment accounts directly in NORD.Investments’ own service.
To talk about the new solution and its impact, we sat down with Anders Hartmann, the CEO & Co-Founder of NORD.Investments.
Here’s what he said.
We all know the struggle of making a manual bank transfer: Going to the online bank, typing in long digits manually, authorising the payment, waiting for the payment to be complete.
It’s therefore no secret that the customers of NORD.Investments have been somewhat challenged when it comes to adding funds to their investment platform to date. In order to do so, they’ve had to leave our platform, log into their online bank, and enter the account information to finally add new funds to the investment platform.
Luckily, that’s all a thing of the past.
With Aiia open banking payments, NORD.Investments customers are now able to top up their funds directly from NORD.Investments’ own platform.
The new solution will instantly benefit more than 7,000 investments customers, CEO & Co-Founder, Anders Hartmann, explains in our talk:
“Before our new top-up solution, our customers experienced unnecessary hassle in the payment journey when topping up investment accounts. It simply took extra time to go to the online bank to set up a manual bank transfer,” he says and continues:
“But with the new open banking solution, we’ve quickly been able to build a top-up solution directly in our own service which means it’s a lot easier and faster for our customers to add money to their investments account.”
In total, NORD.Investments manages more than 2 billion DKK for its customers – a number that’s rapidly growing by the day.
According to Anders Hartmann, there’s no doubt that the new solution will increase conversion rates for NORD.Investments:
“Before our new open banking payments solution, 25 percent of our customers had set up a recurring top-up payment of their fund in NORD.Investments. By improving the payment journey, we’re sure we can improve that number significantly, which means more convenience for our customers and big business for us,“ he says and adds that the digital investments space has experienced a massive growth over the last couple of years due to digitisation.
NORD.Investments recently achieved a Investment Firm licence by the Danish Financial Supervisory Authorities, granting them access to expand the platform into new European markets.
With Aiia as its new open banking partner, the company will be able to scale the top-up payment solutions across Europe too. In the future, NORD.Investments will look into how they can use open banking data to create intuitive user experiences directly in the app.
If you’re curious to learn more about how open banking can take your payment services to the next level, feel free to head over to our payment use cases or download our latest payment report that deep dives into the opportunities of open banking payments. You’re also more than welcome to reach out directly to us for a tailored talk.