Open Banking in Latvia [updated]

Facts and figures

According to EBF, Latvia has 16 banks and the market is dominated by Nordic banking groups such as Swedbank, SEB and Luminor. Citadele bank is the largest non-Nordic retail bank operating in Latvia. The population of Latvia is 1.92 million people and 72% of the population use online banking(Statista, 2019).

Open banking

Most of the largest banks have active open banking developer portals that provide regulated access to account information.

Active portals:

Integration with APIs

To use access and use the open banking APIs in Latvia, you will need to acquire an account information service provider license, issued by the relevant authority. In addition to that, you will require a relevant certificate (QTSPs or eIDAS), 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.

Key benefits of using Nordigen:

  • Nordigen is a licenced AISP,
  • one API, integrated with all the major Latvian 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

--

--

--

Open banking analytics platform for building powerful applications and customer experiences. All-in-one integration for data acquisition and data analytics.

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Get GPS Data Using IP Geolocation API

twinBASIC Update: July 11, 2021

MLOps New Tool Tuesdays

Product Security Framework

Get Ethanol Hourly Rates Using An API

Introduction to Web Scrapping Using Python (with Beautiful Soup)

Smart Endpoints, Software Defined Perimeters Transform Cloud-Based Disaster Recovery (DR)

16th Day: Reasoned KG From Text

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Nordigen

Nordigen

Open banking analytics platform for building powerful applications and customer experiences. All-in-one integration for data acquisition and data analytics.

More from Medium

What Will Be The Role Of Customer Data Platform In Post 3rd-party Cookie World?

3rd-party cookies are dead

What Metrics Matter When You Measure The Effectiveness Of a Chatbot?

Business Intelligence In Education: School Edition

Is analytics ready for the digital economy?