Nordic API Gateway has announced that it is fully rebranding to Aiia as part of its mission to deliver open banking across Europe.

With the name switch, Aiia aims to further support financial innovation across new European markets with its focus on open banking. This comes after the company initially rolled out open banking to Northern Europe.

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The new markets include Lithuania, Latvia, Estonia, the Netherlands, Germany, Italy, Spain, Portugal and Poland. In these areas, the company already has live customers ranging from accounting software providers and fintechs to financial institutions and payment service providers.

CEO & Founder of Aiia, Rune Mai, said: “There’s no doubt it has been a hassle for many European businesses to get started with open banking. With Aiia in place, we’re now fully switching on open banking simplicity across Europe enabling access to more than 240 million Europeans through more than 2000 banks.”

“We differentiate Aiia from others by ensuring we have solid roots in the markets we’re entering by maturing the bank integrations with actual customers and knowing all aspects of local regulations. Our drive is to be the craftsmen of open banking and we’ve been working hard to develop high-quality API’s in the markets we’re entering to give others the
best tools to innovate and scale with a platform that simply works.”

Challenge Visa and Mastercard

Aiia’s open banking offering allows consumers to connect applications to user bank accounts, enabling them to make account-to-account payments.

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The fintech also hopes to challenge existing card schemes like Visa and Mastercard through its open banking initiatives. The company also said the name change does not change the company’s ambitions, but rather, better reflects its offerings and ambitions.

Isak Nuur, Chief Experience Officer at Aiia, said: “As our focus has moved far beyond supporting the Nordics and will continue to do so. Us changing our name and brand to Aiia catches up to what we come from as a company and where we’re heading with account-to-account payment solutions in the future.

“Aiia is all about switching on simplicity in open banking through a product fleet that empowers all aspects of open banking. With the full roll-out of Aiia, we’ll continue to expand our fleet with even more types of payments ranging from recurring payments to our recently launched bulk payments, storage-options and consent management tools for end-users alongside further enrichment of data.”

Aiia currently serves companies, including Danske Bank, DNB, OP Financial Group, Svea Payments, Pleo, Lunar, and Santander Consumer Bank.