aOpen Banking in Norway [updated]

Open Banking in Norway [updated]

1 min

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Facts and figures

According to EBF, Norway has 119 banks. The largest banks are Nordea, Danske bank, DNB and Bank Norwegian. 

Thanks to the majority of Norwegian population increasingly using online banking, the number of physical branches in Norway is decreasing significantly. 95% of all Norwegians use the internet for online banking which has given the banking sector large productivity gains and lowering the costs. The cost/income ratio in 2020 on average was 37.9%. (Statista, 2020)

Open banking

Most of the largest banks have active open banking developer portals that provide regulated access to account information. 
Active portals: 

Integration with APIs

To use access and use the open banking APIs in Norway, you will need to acquire an account information service provider license, issued by the relevant authority. In addition to that, you will require a relevant certificate (QTSPs or eIDAS), compliant with PSD2 requirements.

Alternatively, you can use Nordigen's free Account Information solution.
Key benefits:

  • one API, already integrated with all the major Norwegian banks,
  • access bank account history, up to 2 years,
  • 90-day continuous access to bank accounts,
  • access to personal and business account information,
  • free of charge, no hidden fees.

Learn more about Nordigen's Account Information here or get access to the API now

 

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Article by

...Rolands Mesters

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