Nomentia has released two new API connections with Nordic banks, Nordea and OP. Now, our clients banking with Nordea and/or OP can get real-time access to their cash positions and bank account balance information using API connectivity.
The APIs we are connecting with are the following:
- Nordea Premium API for Instant Reporting
- OP Corporate Account Data API
What are the benefits of connecting to Nordea and/or OP via APIs?
Connecting to the banks via APIs enables instant data retrieval from all Nordea or OP bank accounts to gain visibility to bank account balances as frequently as required directly from the Nomentia Cash Management solution. Account data, such as bank account balance information will be available directly in Nomentia Cash Management. Setting up the API connection with the banks is easy: once you create an agreement with the bank to consume the API, you can work with Nomentia to make the connection for you, and we will take care of the rest that so you can start gaining benefits from using the premium API.
Ease your work by using premium APIs to get real-time information from the banks
Connecting to the banks via the premium APIs will extend the benefits one can get from the already existing bank connections in place. Connecting with the banks via APIs, Nomentia users will have real-time bank account balance information available within the Nomentia Cash Management solution for all authorized users. Users can obtain and update all account balances as frequently as required, instantly and monitor real-time cash movements and limits.
The future: Will Nomentia develop other Premium API connections?
According to Tapani Oksala, Senior Solution Manager at Nomentia, who has been working with our bank partners for over a decade, adding support for banks’ premium APIs to the Nomentia Cash Management solution is vital as it will transform how corporates can utilize real-time cash and treasury management insights even better in the future.
“The open banking initiative and the premium API development will provide cash and treasury management teams with possibilities beyond what traditional bank connectivity solutions have been capable for. These two APIs are just the start, and we are already working on implementing more premium APIs for our clients to meet the increasing demand for API adoption,” said Tapani Oksala.
Nomentia is developing new premium API connectivity options for our corporate clients to take the burden away from corporate IT teams and provide an easy way to subscribe to and consume banks' APIs. If you want to know more, you can always contact us via the website. Alternatively, you can also suggest APIs that you would like us to implement in the future.