Neonomics selected by Ping Payments to power open banking services expansion across the Nordics

Neonomics, a leading open banking technology company, announces its new partnership with Ping Payments, an innovative Swedish payment provider specialising in payment solutions for platforms, SaaS businesses and marketplaces. The new partnership will significantly enhance Ping Payments’ capabilities within account-to-account payments, identity verification and compliance within the Nordic region.

The joint effort will see Neonomics manage end-user consents and account-to-account payments for Ping Payments, supporting open banking powered identity verification – which, when combined with account-to-account payments, will significantly strengthen value by fulfilling a need to validate recipients of pay-outs in several segments. Furthermore, Ping Payments will benefit from Neonomics’ broad connections to banks across Norway, Denmark, and Finland, using the capabilities of one of the most robust open banking API platforms available in the market.

Commenting on the collaboration, Petter Sehlin, CEO at Ping Payments said: “Reach, market insight, and technical viability were paramount in our selection of a partner for expanding our services. Neonomics has consistently demonstrated high quality throughout our relationship, and we are excited to expand our offering outside of Sweden across the Nordics with Neonomics.”

Working together, the two companies aim to expand the footprint of secure, seamless financial transactions across the Nordic region, and are strategically positioned to broaden their influence throughout the Nordic financial sector. With the fusion of Neonomics’ technical acumen and Ping Payments customer-centric payment solutions, the companies aim to provide a payment ecosystem that’s not only larger in scope but also exemplary in its adherence to user experience, security, and regulatory compliance.

Founder and CEO of Neonomics Christoffer Andvig said: “Our goal is to empower companies like Ping Payments with advanced tools to navigate customer identification complexities with ease and security. With our advanced account verification solutions designed to mitigate risks and safeguard transactions, we will together strengthen payment and compliance processes across customer touchpoints – bringing a future where transactions are inherently secure and seamless for all participants in the Nordic markets.”