Latvian fintech startup Nordigen is switching to a freemium model thanks to a free open banking API. Open banking was supposed to democratize access to banking information, but the company believes banking aggregation APIs from Tink or Plaid are too expensive. Instead, Nordigen thinks it can provide a free API to access account information and paid services for analytics and insights services. Open banking is a broad term and means different things, from account aggregation to verifying account ownership and payment initiation. The most basic layer of open banking is…
