Author: Fintechnews Nordics

Backbase has made an agreement with Danske Bank in Denmark. This agreement provides Danske Bank with access to Backbase’s Engagement Banking Platform, which will progressively be implemented across their digital channels in the coming years. This will enable Danske Bank to offer its customers a continuously improved digital customer experience, as the enhanced flexibility allows it to tailor its business operations around customer journeys. Frans Woelders, Chief Operating Officer at Danske Bank, highlights: “This engagement is a testament to our customer focus and our commitment to ensuring the best digital banking experience for the future. A new platform that works…

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J.P. Morgan’s Commercial Banking business has hired Kim Larsson Nyheim as Innovation Economy banking lead for the Nordics, based in Stockholm. In this role, Kim is dedicated to serving Nordic-based, early stage, venture-backed companies with high growth potential in industries like Disruptive Commerce, Technology, Life Sciences, Healthcare IT and ClimateTech. These companies benefit from the financial strength, scale, industry specialization, digital capabilities and investments that J.P. Morgan makes to support them from startup to IPO and beyond. This includes payments, capital raising and financing, liquidity solutions and strategic advisory for portfolio companies and more. Kim brings more than 10 years…

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In an investment round co-led by new investor CNI and existing investor Opera Tech Ventures, Stockholm based Insurely has secured additional funding to accelerate its international expansion and product development. This investment aims to strengthen Insurely’s position as an open finance provider for insurance and pension solutions in Europe. On the back of a successful year, having added multiple established financial institutions to the client list, Insurely is now raising €8 million through a convertible note with CNI as leading external investor, accompanied by Opera Tech Ventures who is increasing its investment in the company, and with additional investments from…

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Meniga, an Iceland and London based pioneer in Personal Finance Management solutions announced that it has raised €15 million in Series D funding. The new investment round included major European banks, Groupe BPCE and Crédito Agrícola, and the leading Icelandic VC group, Omega ehf, with participation from several existing shareholders. Total funding in Meniga to date amounts to €55 million. Part of the capital injection will be used towards clearing existing debt, rendering Meniga almost debt-free. The funding will also be invested in the roll-out of Meniga’s new strategy, focusing on further developing its core capabilities around Data Enrichment and…

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Nordic challenger bank Lunar is joining forces with TrueLayer, one of Europe’s leading open banking payments network, to redefine the payments landscape across Denmark, Sweden and Norway. This collaboration will enhance TrueLayer’s instant payment capabilities in the Nordics through seamless integration with Lunar’s payment infrastructure.  Lunar opened its Nordic payment infrastructure to partners in June 2023. By partnering with Lunar, TrueLayer will be able to access domestic payments across three markets in the Nordics, providing payment coverage across Denmark, Sweden and Norway. TrueLayer becomes the inaugural major partner to leverage Lunar’s Banking Services.  “In many ways the Nordics is a difficult…

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Finland based Enfuce has secured an €8.5 million follow-on investment round led by Vitruvian Partners, with participation from Visa and Maki.vc. This funding, following Enfuce’s successful €45 million Series C round in 2021 and brings Enfuce funding to a total of €62m to date. Founded in 2016, Enfuce has grown to be an important player in the payments sector. Having been one of the first to bring payment processing to the public cloud, Enfuce is the partner of choice for innovative payments solutions for the likes of Pleo, OKQ8 and Memo Bank. As a global card issuer and payment processor…

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Iceland’s largest bank Landsbankinn announced it is leading the way in Open Banking innovation by becoming the first bank in Iceland to offer its customers Payment Initiation Services (PIS) and Aggregation Services (AIS). The solution is powered by Meniga, a leading provider of digital banking solutions, paving the way for unique customer experiences and changing the way users can interact with their bank. This new solution will have a significant impact on the financial services landscape in the region. Landsbankinn’s Aggregation Service allows its customers to access a view of their accounts across other major banks in Iceland, seamlessly within…

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Nexi has entered into an agreement with French IN Groupe which is to take over its eID business. This acquisition is in line with the strategy of both groups: to reinforce IN Groupe’s role as European leader in digital identity, and further strengthen the position of Nexi as the leading European PayTech. Nexi has entered into an agreement with IN Groupe, a specialist in identity and secure digital services, who will take over the ownership of the eID business. IN Groupe is a global specialist in identity and trust solutions providing comprehensive solutions that address a broad variety of digital…

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Jifiti, a global white-labeled embedded lending provider, today announced that it has been granted an Electronic Money Institution (EMI) license in Europe, following the Swedish regulator’s rigorous review and qualification process. As a white-labeled solution provider to banks, regulated lenders and financial service providers globally, Jifiti strictly adheres to multinational regulatory and security standards. The EMI license serves as comprehensive validation of the company’s robust compliance and regulatory standards, which also include PCI/DSS, SOC 2 and ISO 27001 certifications. With its EMI license, Jifiti is able to serve the growing needs of its bank, lender, financial services and merchant clients…

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In Sweden, fintech companies are finding it more difficult to secure funding, noting that investors have adopted a more cautious approach amid economic uncertainties, geopolitical turmoil and soaring inflation. But despite the challenging venture funding landscape, fintech entrepreneurs remain confident in the sector’s prospects and are expecting growth in the year to come, a new report by industry trade group, the Swedish Fintech Association (SweFintech), says. The report, titled the 2023 Fintech Report: From Growth to Profitability, provides an overview of the Swedish fintech industry, describing how the industry developed in 2022 and exploring the various challenges encountered by Swedish…

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