What are the advantages of using PSD2 License as a Service?

Open banking solutions provider Noda benefits from fino's PSD2 License as a Service (LAAS).

Noda is a well-known provider of Open Banking solutions for online services. The company focuses in particular on direct communication with online merchants, offering them instant access to new technologies that help them grow faster. In an interview, Anastasia Tenca, COO of Noda, explains how fino’s License as a Service supports Noda in their business model. 

What is the significance of Open Banking for Noda Pay?

Open Banking for Noda is a core driver. The idea of creating a product, now so successful, came to be because of Open Banking technology. We have heard of this new emerging way of making payments, this new change that was projected to be implemented by every major bank in the world, and our main product Noda Pay was born. 

How important is LicenSe as a Service for your business model?

At the moment License as a Service for Noda is very significant. Majority of our clients operate in EEA and since we do not currently hold our own European license, as we are based in the UK, License as a Service is the only way for us to be able to legally and effectively provide services to them. 

Where does fino's License as a Service come into play?

We have started working with fino several months ago, and during this time they have been great in providing quality support for us, and helping us to effectively utilize their offered services. Using their License as a Service has been seamless and smooth so far, that is felt by our clients and end-users of their services, which is the most important. 

What other use cases can you imagine?

We think that this service can be of a great value to small startups and just driven businesses that do not have funds, time resources or opportunity to acquire their own license in a certain geographic area or in general. For some companies it is simply more practical to rely on an already polished and well functioning service. 

Anastasia, thank you for the interview!

Anastasia Tenca

COO, Noda Pay