[HN Gopher] Nordigen: Free banking data and premium insights
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Nordigen: Free banking data and premium insights
Author : rmesters
Score : 49 points
Date : 2021-03-07 14:13 UTC (8 hours ago)
(HTM) web link (nordigen.com)
(TXT) w3m dump (nordigen.com)
| joe_91 wrote:
| Really great to see alternatives to plaid! A few years ago I
| looked to setup an online finance tracker for personal finance
| and eventually dropped the idea of connecting with Banks using
| Plaid or Salt due to the excessive costs - especially for just a
| side project idea.
|
| Hopefully banks the world over will start to standardise their
| API's and we'll have access to more and more third party apps
| which can help people with their finances!
| capableweb wrote:
| > Hopefully banks the world over will start to standardise
| their API's and we'll have access to more and more third party
| apps which can help people with their finances!
|
| I got good news for you, Europe has already been working on a
| solution for this for a long time, finally coming to fruition
| now. Nordigen seems to be using PSD2 as well.
|
| More info:
| https://en.wikipedia.org/wiki/Payment_Services_Directive
| dastx wrote:
| Except in reality there is no standardisation, and everyone's
| API is different. Making it that much harder to actually
| integrate. Still, having _an_ API is way better than no API.
| joe_91 wrote:
| Oh just an FYI - I'm getting a 403 error when trying to
| subscribe to your mailing list, it looks like a CSRF error:
| "CSRF verification failed. Request aborted."
| rmesters wrote:
| UK and Europe has already done this. Australia, Saudi Arabia,
| Brazil and Japan are all working towards this. It's happening.
| omeze wrote:
| FYI - Plaid is free for 100 linked accounts (and has been since
| inception) so it should work for personal use cases.
|
| Disclaimer: used to work there
| vhanda wrote:
| I would love to use this for my personal bank accounts so that I
| can setup custom scripts / alerts, but I'm uncomfortable not
| paying for this. At that point I feel like the product, and even
| after reading your entire privacy policy, I'm still on the fence.
|
| Especially with this part -
|
| "Nordigen may also provide personal data to companies that
| process personal data on behalf of Nordigen such as marketing
| service providers. Nordigen will be responsible for the correct
| processing of Your personal data."
| capableweb wrote:
| Looks cool and all, would like to be able to use. Bit bothered
| that it's a Show HN since you can't actually try it out, this is
| just asking you to sign up to a mailing list or contact sales
| basically. This is funny because you have two buttons as the call
| to action, "Get Free Access" and "Contact Sales". Both of them
| leads you to having to wait for them to contact you back.
|
| Having a list of supported banks upfront would be nice as well.
| rmesters wrote:
| Thanks - super valuable feedback. A fully self-service
| onboarding is on the way. I get the frustration of having to
| wait, we're working on that.
| mellosouls wrote:
| I think you haven't understood - it's a requirement of ShowHN
| that the service is readily useable for free try-outs.
|
| Sign up pages are not eligible.
|
| https://news.ycombinator.com/showhn.html
|
| Regardless, best wishes with the project, sincerely.
| dang wrote:
| I've taken Show HN out of the title now. Thanks.
| ganzuul wrote:
| Consider when you try to build momentum. I for one won't be
| checking back until you make the news again.
| cromka wrote:
| One of the maintainers of KMyMoney, an open-source personal
| finance software. We looked into
| (https://invent.kde.org/office/kmymoney/-/issues/21) leveraging
| one of the 3rd party aggregators like yours to allow users access
| their data. The conclusion was that being an open-source software
| was a no-no for all of them, unless we were willing to sign our
| binaries with certificates (that the aggregators require) and
| distribute the software as such. All of that obviously aside from
| the cost of the service itself.
|
| Do you see if this could be made possible with Nordigen?
| klausjensen wrote:
| How can I see a list of banks I can actually connect to in each
| country?
|
| Ps. This looks great, and I will try it out, if my bank in
| Denmark supports it/is supported. :)
| rmesters wrote:
| There's a good chance we support your bank in Denmark. We
| support a good bunch of banks in DK already.
| alexchamberlain wrote:
| That doesn't actually answer the question: where is the list
| of supported banks published?
| neogodless wrote:
| Minor complaint - went to mouse up to click on pricing and I
| suppose my cursor went out of the viewing window, and I got an
| annoying "wait don't leave" pop-up. I'm sure this is
| _intentional_ and perhaps it 's better for your business to have
| it, but I personally find it a good reason to close the tab.
|
| Perhaps add a tiny waiting period when the mouse leaves in case
| it is accidental and not aimed at hitting the "x"?
| nailer wrote:
| FYI https://teller.io has been operating in Europe for over six
| years now giving third parties access to the private banking APIs
| (not the cut down PSD2 equivalents), long before they opened in
| the US.
| sails wrote:
| First time coming across them after following
| Plaid/Truelayer/Nordigen for a while. Thanks!
| capableweb wrote:
| If they have been operating for six years, they really went all
| the way out on minimalism. Their website barely have any
| information about how it works and what are the requirements.
| List of supported countries and banks is also absent. Is
| https://teller.io/ maybe not the main page?
| 1f60c wrote:
| In Europe, this isn't needed because of PSD2.
| rmesters wrote:
| Fair point. But Europe is also a bit of a mess - 6,000 banks
| with unique banking APIs. And the large open banking incumbents
| are charging for access to banking data that's available via
| PSD2 for free. We're trying to make it a little less messy, by
| providing free access to data that's actually free (it's weird
| how it's a thing, I know).
| stevesimmons wrote:
| I guess this is really a question to @rmesters, who indicated in
| a reply that he is CEO of Nordigen.
|
| Can you explain what has changed versus the standard product
| Nordigen had in the market around 2 years ago? I remember having
| sales calls with Nordigen in October 2019.
| rmesters wrote:
| Today Nordigen offers Free access to banking data and Premium
| data insights as a service. For reference:
| https://techcrunch.com/2020/12/01/nordigen-introduces-free-e...
| In 2019, we only offered Premium banking data insights as a
| service (no account aggregation functionality).
| dastx wrote:
| Your privacy policy seem quite vague. Do you sell transactional
| data? Anonymised or not? I've been looking for an alternative to
| Yodlee, but they all seem to be selling the scraped data in the
| background.
| rmesters wrote:
| We're regulated by GDPR (Europe's data privacy law), which is
| super strict about data.
| capableweb wrote:
| Sure, but nothing in GDPR forbids you to sell data, as long
| as you're up front about it and ask for permission. Not
| answering "Do you sell transactional data? Anonymised or
| not?" with a clear yes or no is a bit worrying.
| dastx wrote:
| Since you're Europe based, this was implied. As mentioned by
| a sibling comment, this doesn't mean you don't sell data.
| Your vague reply seems to imply that you do end up selling
| this data. I guess this kind of makes sense, considering
| selling the data probably makes you a lot more money than the
| EUR0.50 per month.
| rmesters wrote:
| We don't sell the data. Our business model is to help
| developers/businesses access banking data (with end-user
| consent) and make sense of the banking data to power their
| apps.
| devops000 wrote:
| I think the color palette of your website it not looks great.I
| would have use softer color (eg. Stripe, ModernTreasury etc.)
| alexchamberlain wrote:
| How does this compare to others, such as Truelayer?
| rmesters wrote:
| CEO/co-founder of Nordigen here. We plug in to the same Open
| APIs as Truelayer, but we don't charge for access to banking
| data. We only charge for value-adding data services (e.g.
| Transaction Categorisation, Credit Insights) that help
| developers get more value from banking data.
| sails wrote:
| Truelayer cost structure is quite low, order of PS400 per
| month if I recall correctly, which I often thought was
| relatively cheap. I wonder if the value proposition of free
| vs PS400 is compelling enough. How does Truelayer cost scale
| up?
|
| A minor thought on how you could improve on the service
| Truelayer offers: It requires some dev work to setup the auth
| callback, requires hosting a server etc. This is perhaps
| because the product is more enterprise than hacker, but this
| is more work than say Codat that is providing the same
| service for accounting systems, without the need to host our
| own auth service.
| croes wrote:
| FYI: LinkedIn or Github account needed
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(page generated 2021-03-07 23:03 UTC)