Bankaktiebolaget Nordiska has selected Finastra to gain connectivity to the global Swift network and Sweden’s central payment rails.

The Swedish challenger bank will use the vendor’s Swift Service Bureau to gain greater control over liquidity and reduce its reliance on intermediaries for settlement flows.

The partnership enables Nordiska to integrate with key Swedish market infrastructures.

These networks include the Riksbank real-time gross settlement system, known as RIX RTGS, alongside future integration with the RIX INST platform for instant payments.

By adopting the solution, Nordiska will increase control over its daily operational liquidity. The bank previously relied on partner banks to access central bank money and manage transaction flows.

“This partnership gives us a streamlined and scalable platform to manage our payment flows and liquidity directly, which is critical as we continue on our growth journey,”

said Jonas Hultin, CPO, Nordiska.

“Independency of partner banks means we can provide advanced and faster service at less cost while focusing on our core business.”

The framework is built to help the challenger bank comply with domestic and international regulatory mandates as it expands operations.

Finastra noted that modern payment architectures face increasing complexity from shifting compliance frameworks and higher expectations for platform resilience.

“This partnership highlights the value of our Swift bureau services in helping institutions improve their settlement infrastructure,”

said Barry Rodrigues, EVP Payments, Finastra.

“Modern payment systems are increasingly complex due to regulatory changes and higher expectations for resilience.”

Featured image credit: Edited by Fintech News Nordics, based on image by Kira Lutsenko via Magnific