Swiss IT and digitization specialist Inventx is the latest company to leverage technology from ndgit to enable it to maximize the opportunities of open banking. The company will use an open API integration layer from ndgit to power its new Open Finance Platform, ix.OpenFinancePlatform, which makes it easier for banks and insurance companies to connect with fintechs and other third party providers.
“The partnership with Inventx gives us clear strategic advantages, allowing us to expand our range of fintech solutions for Swiss clients and further boost local market growth,” ndgit Business Manager for Switzerland Roger Wisler said. “Inventx’s innovative Open Finance Platform is the next logical step for the evolution, adoption, and promotion of Open Banking in Switzerland. Together, our optimized interfaces will help to facilitate smooth and seamless integration of fintechs and financial service providers.”
Inventx’s ix.OpenFinancePlatform will use ndgit’s technology and open APIs to facilitate the connections between FIs, fintechs, and software partners. Inventx Head of Consulting and Software Solutions Pascal Wild said the two companies complemented each other insofar as ndgit’s APIs provide the standardized APIs for front-end applications while Inventx offers backend system connectivity. The combination makes it easier for FIs to take advantage of open banking for themselves and their customers “without having to worry about the technical challenges of system communication and orchestration,” Wild explained.
Founded in 2016 and headquartered in Munich, Germany, ndgit demonstrated its PSD2-enabled Digital Loan Application at FinovateEurope earlier this year. The company, which implemented Switzerland’s first Open Banking Platform in 2017, notes that its technology has been deployed by 20+ banks over the past year. Ndgit’s API platform won the CEE Fintech Challenge in 2018, the biggest fintech conference in the Central and Eastern European region.
In October, ngdit forged a partnership with Swiss fintech incubator and accelerator F10. The following month, the company collaborated with Synpulse to launch Switzerland’s first fintech app marketplace. Ndgit was awarded the Finance IT Innovation Award in June, along with partners Finstar, Sonect, and neo.