Open Banking in Estonia [updated]
Facts and figures
According to EBF, Estonia has 14 banks and the largest are Swedbank, SEB Bank, LHV Bank and Luminor Bank. The largest banks serve 2 million private and 300 thousand business customers. Estonians have 1.8 active current accounts per inhabitant and 1.25 active internet bank accounts per inhabitant. The population of Estonia is 1.3 million people.
Open banking
Open banking in Estonia is regulated by Payment Services Directive 2. Most of the largest banks have active open banking developer portals that provide regulated access to account information.
Active portals:
- Swedbank Open Banking Developer portal — Swedbank Developer Portal
- SEB Developer portal — SEB Developer Portal
- Luminor Developer portal — Luminor Developer Portal
- LHV Open Banking portal -LHV Developer Portal
- Coop Pank Open banking portal — Coop Developer Portal
Integration with APIs
To use access and use the open banking APIs in Estonia, you will need to acquire an account information service provider (AISP) licence, issued by the relevant authority. In addition to that, you will require a qualified certificate, compliant with PSD2 requirements.
Alternatively, you can use Nordigen’s free Account Information solution.
Nordigen free PSD2 data API
Nordigen offers a free PSD2-compliant open banking API, that allows businesses to access bank account information of their existing or potential customers.
- Nordigen is a licenced AISP,
- one API, integrated with all the major Estonian banks,
- access to bank account history, up to 2 years,
- 90-day continuous access to bank accounts,
- access to Personal and Business account information,
- free to use, no hidden fees.
Learn more about Nordigen’s Account Information here or get access to the API now.
Get Free Access to Account Information today or learn more about Nordigen’s Account Information product.
Connect to bank accounts and get raw transaction data. Free access to regulated banking data in Europe.
If you found this article interesting please give us a ”Clap”.
If there is anything you want to discuss from your perspective add a comment below.
Check out other Nordigen Blog Posts, share them with your team and let’s build more awareness around open banking together!
Follow us or get in touch: Website | LinkedIn | Facebook | Twitter | Email
