Neonomics, a Norway-based leader in open banking, has acquired the UK-based Open Banking platform Ordo to bolster its commercialization efforts and enhance its ability to deliver services across the UK and beyond. The acquisition, which was approved by both the UK’s Financial Conduct Authority (FCA) and Norway’s Financial Supervisory Authority (FSA), sees Neonomics acquire 100% ownership of The Smart Request Company Limited, which operates under the Ordo brand.
This strategic move is set to accelerate Neonomics’ growth and offer a more expansive range of services, tapping into synergies between the two companies to better serve business needs in the UK and Europe. While the financial terms of the deal have not been disclosed, it marks a significant step in Neonomics’ efforts to strengthen its market position.
Christoffer Andvig, Founder and CEO of Neonomics, commented, “The team at Ordo represents some of the most experienced payments experts in the UK, with a strong influence across key UK and EU forums shaping the future of Open Banking. This acquisition enhances our commercialization strategy, accelerates our time-to-market, and broadens our product offering.”
Ordo, established by the former management team behind the UK’s Faster Payments Scheme, provides a suite of payment and data services, including variable recurring payments. In February 2024, Ordo became an official supplier for the Crown Commercial Service when it joined the UK’s Open Banking Dynamic Purchasing System.
Fliss Berridge, Co-Founder and Managing Director of Ordo, expressed excitement about the merger: “We are proud to collaborate with one of Europe’s most well-positioned independent Open Banking providers. Together, we aim to scale our solutions for existing and new customers across the UK and Europe, delivering tailored solutions in a highly-regulated environment.”
This acquisition strengthens Neonomics’ position as a leading player in the Open Banking landscape, further enhancing its capability to meet the evolving needs of the payments industry in the UK and European markets.
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