Neonomics Group has officially acquired Ordo, a leading UK-based open banking payments and data service provider. Ordo, authorised by the UK Financial Conduct Authority (FCA), is one of the pioneers in open banking and a trusted supplier of Crown services. With expertise in delivering advanced payment solutions like Variable Recurring Payments (VRP), this acquisition marks a pivotal step in reshaping the future of seamless, cost-effective financial services.
Accelerating Open Banking Growth Across the UK and EU
The UK and EU are experiencing rapid adoption of account-to-account payments, fueled by advancements in technology and increasing regulatory support. Enhanced interoperability and robust security measures have made cross-border payments more accessible. Upcoming legislative changes, including the Payments Services Regulation (PSR) and the Payment Services Directive 3 (PSD3), are set to further drive innovation in the financial landscape, reducing reliance on legacy systems while increasing cost efficiency.
Ordo: A Fintech Pioneer in Open Banking
Founded by the same visionary team that launched the UK Faster Payments scheme, Ordo has been instrumental in shaping the UK’s open banking ecosystem. As a trailblazer, the company has successfully delivered low-cost instant payments, fully managed VRP capabilities, and other innovative solutions.
Fliss Berridge, Co-founder and Managing Director of Ordo, expressed excitement about the partnership:
“We are thrilled to join forces with Neonomics, a leading independent open banking provider in Europe. This collaboration allows us to scale our services and provide tailored, competitive solutions for businesses and consumers across the UK and Europe.”
Strategic Benefits of the Acquisition
Neonomics sought a strategic partner to accelerate its expansion and enhance its UK presence. Ordo’s strong payment propositions, unrestricted VRP capabilities, and experienced team perfectly align with Neonomics’ mission of creating an open and connected economy.
Christoffer Andvig, Founder and CEO of Neonomics, commented:
“Ordo’s team brings unmatched expertise in open banking. Their contributions to key forums shaping the industry across the UK and EU make this acquisition a significant milestone. Together, we can deliver unparalleled value and innovation to our customers.”
Key Transaction Details
The acquisition involves Fintech Innovation AS, the parent company of Neonomics AS, gaining 100% ownership of The Smart Request Company Limited Ltd, trading as Ordo. The deal has been fully approved by both the UK FCA and the Norwegian FSA, ensuring regulatory compliance and seamless integration.
A Future-Forward Alliance
With this acquisition, Neonomics and Ordo are well-positioned to capitalize on synergies, expand their offerings, and lead the open banking revolution across the UK and Europe. This partnership underscores the commitment to delivering innovative, secure, and cost-effective financial solutions in a rapidly evolving industry.
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