Latvian financial services company DelfinGroup has expanded its partnership with Nordigen by incorporating its open banking platform.

The partnership will see DelfinGroup leverage Nordigen’s technology toolkit to streamline its loan origination and credit assessment process.

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DelfinGroup, which operates under the brand names Banknote and VIZIA, specialises in offering technology-focused financial services.

It provides consumer and pawn loans, senior citizen-focused loans as well as buy-now-pay-later loans.

Nordigen’s platform enables third parties to access consumer data via an application programming interface (API).

The data is then used to evaluate and verify the customer’s credit worthiness.

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DelfinGroup board chairman Didzis Ādmīdiņš said: “We have chosen Nordigen as our open banking partner because through a single (API) connection, we can gain access to the financial data of 17 Latvian banks, thus simplifying the process of obtaining services for both the company and the customer.

“The integration with Nordigen helps improve our decision-making model by supplementing it with bank transaction data. Cooperation with Nordigen will also significantly improve the user experience, as customers can submit an account statement quickly and securely via Internet banking in the future.”

Nordigen co-founder and CEO Rolands Mesters said: “DelfinGroup has an established reputation in Latvia and the Baltics as an innovative financial service provider. It is great for our open banking solutions to contribute to their financial services and to further secure and enhance their already established data-driven decision-making mechanism.”

Last week, direct bank payments provider GoCardless announced plans to buy Nordigen to enhance its open banking capabilities.