Sbanken continues to deliver on open banking with student loan integration
Starting this week, customers of Sbanken will be able to view outstanding student debt in their mobile- and online bank.
The Financial Supervisory Authority of Norway has earlier this year stated concerns on the debt situation of Norwegian households. This is a concern we take seriously and together with the Norwegian State Educational Loan Fund, we wish to do our part.
Having the ability to view outstanding student debt side-by-side with mortgages and other loans gives our customers for the first time the possibility to view their total debt in one place.
By integrating to the Norwegian State Educational Loan Fund through our API-platform, this marks an important step towards giving our customers the ability to take the best financial choices for the future.
Following previous open banking moves such as integrating to Coinbase and PSD2-partnerships, this is tangible proof of the capabilities of the bank’s open platform and open banking strategy. And we are just getting started.
Do they REALLY want to see how much they owes in student loans?
Will this not reduce happiness and increase the risk of depression in Sbank customers?
Whether this increase happiness is not the question here. The key issue is to give our customers the necessary overview of their finances to take informed and smart economic decisions for the future.
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