Mastercard Lighthouse FINITIV has officially launched its 14th programme round, welcoming 15 innovative fintech and fintech-enabler startups. This spring, the partnership initiative will focus on Denmark, Norway, and the Baltics, fostering the already thriving startup ecosystem in these regions. The selected participants specialise in diverse areas such as accounting, fraud detection, API-based solutions, and insurance technology. Mastercard Lighthouse remains dedicated to driving innovation and collaboration – both vertically, by working with investors, banks, and corporate partners, and horizontally, by fostering connections among startups and early-scale companies. Introducing the Mastercard Lighthouse Spring Class of 2025 Denmark Kontolink AI-powered automated accounting for…

Sweden’s Riksbank is calling for urgent measures to strengthen Sweden’s payment system due to growing geopolitical tensions and the risk of disruptions. It urges the development of offline card payments, the continued use of cash for essential purchases, and improved access to instant transactions. Both public and private sector actors must take action to improve preparedness, while the public is encouraged to keep both physical payment cards and cash readily available. “In light of the deteriorating security situation in Sweden and our neighbouring region, urgent steps are needed to ensure a payments market that can withstand disruptions,” said Governor Erik…

Sweden’s Swedbank and Norway’s SpareBank 1 alliance have announced plans to establish a jointly owned Nordic investment bank by expanding the Norwegian group’s SpareBank 1 Markets operation. As part of the agreement, SB1 Markets will acquire Swedbank’s Corporate Finance and high-yield debt operations, while also extending its equity research and equity sales activities to Sweden, the companies stated. Following the transaction, Swedbank will hold a 20% stake in SB1 Markets, while SpareBank 1 Sør-Norge will own 28.1%, SpareBank 1 SMN will control 31.9%, and SpareBank 1 Nord-Norge will have a 14.5% share. The remaining stakes will be held by smaller…

Backbase, an Amsterdam-based banking platform provider, has announced a strategic partnership with Helsinki-based Siili Solutions, a digital transformation company with a strong presence in the Nordic region. This collaboration aims to enhance financial institutions’ ability to address the specific needs of the Nordic market by combining global banking technology with local expertise. As banks in the Nordic region seek to modernise their services, the partnership integrates Backbase’s banking platform with Siili’s regional knowledge and AI  capabilities. This approach allows banks to accelerate digital transformation while maintaining control over their strategic direction. Jonas Qvarfordt, Regional Sales Director at Backbase, stated, “The…

Bluebook, the Stockholm-based AI-powered software transforming modern accounting firms, has raised US$3 million in funding, including a US$2.5 million pre-seed round led by EQT Ventures, with participation from Y Combinator and angel investors from OpenAI, ElevenLabs, and Affirm. Founded by Philip Andersson, Jonathan Andersson, and Filip Stål, Bluebook is on a mission to bring automation, intelligence, and efficiency to a sector long overdue for transformation. Bluebook enables accounting professionals to enhance productivity, allowing firms to serve 200 clients instead of just 20. By reducing research time by approximately 30%, accountants can shift their focus from time-consuming reconciliations and monthly closings…

Market Pay Group, based in France, has announced an agreement to acquire Altapay, a payment service provider based in Copenhagen, Denmark. Altapay, which currently serves over 400 merchants, offers a range of payment solutions, including local and international payment methods, as well as alternatives like Buy Now Pay Later (BNPL). The platform also facilitates in-store payments with advanced terminals and supports omnichannel solutions, helping merchants optimise payment data and improve performance. In 2023, Altapay processed €3.1 billion in transactions in Denmark alone. The company also operates in Sweden, Norway, and the UK, serving businesses across sectors such as retail, digital…

Netcompany, a Denmark-based IT services company, has agreed to acquire SDC, a Danish provider of core banking solutions, in a deal valued at DKK 1 billion (US$145 million). Under the agreement, SDC will become fully owned by Netcompany, with the aim of improving banking services for existing and future customers. As part of the deal, Netcompany will pay DKK 1 billion (US$145 million) in cash to SDC’s shareholders, using its existing credit facilities. The transaction is expected to be completed by mid-2025, pending regulatory approval. This acquisition strengthens Netcompany’s presence in the financial services industry, one of the biggest sectors…

The Malmö business community has announced the return of the Malmö Residency, a unique initiative designed to welcome forward-thinking individuals to Sweden’s dynamic third-largest city. Taking place in May and June 2025, the residency provides selected participants with the resources, connections, and inspiration needed to develop projects in a vibrant and collaborative environment. Following the success of the programme in 2023, which attracted 649 applicants from 74 countries, the second cohort will once again offer a month-long, fully funded experience in Malmö’s thriving entrepreneurial and creative ecosystem. Participants will receive travel and accommodation support, access to co-working spaces, guidance from…

The Baltic and the Nordic regions have emerged as key hubs for fintech innovation, driven by strong tech ecosystems, supportive regulatory environments, and a strong emphasis on digital innovation. Estonia stands out as one of the most advanced nations in terms of fintech and digital innovation, recognized as a global leader in e-government, blockchain technology and digital identity. Lithuania has gained a reputation for being particularly welcoming to fintech startups, offering fast and efficient licensing processes for financial companies and attracting global fintech companies with its welcoming regulatory framework. Latvia, though home to a smaller fintech scene compared to Estonia…

The Swedish Open Banking platform, Open Payments has secured €3 million in funding, led by Alfvén & Didrikson, with participation from Industrifonden and other existing investors. This latest round brings the company’s total funding to €11.5 million. The funds will support the company’s expansion, product innovation, and mission to streamline B2B payments across Europe. Established in Stockholm in 2017, Open Payments aims to tackle the challenges businesses face when integrating multiple banking services. CEO and founder, Louise Brandt explains: “We created Open Payments to simplify banking integrations by combining multiple bank APIs into a single API. This allows businesses to…

Vilja, a Swedish core banking provider, has been recognised as a Functionality Standout in Celent’s latest report, “Retail Banking Core Systems: Next-Generation Core Banking, 2024.” The report evaluated 13 vendors globally and identified Vilja as the only Nordic company featured. Celent categorised next-generation core banking vendors into three segments; Product Cores, Broad Cores, and BaaS Platforms. Vilja was classified as a Broad Core, a segment designed to support digital direct banks with features like product capabilities, digital onboarding, and card payments. The report highlighted the growing prominence of next-generation core banking systems over the past five years, noting their shift…

Swish users will now be able to tap-to-pay with Swish in stores, both in Sweden and abroad, by adding their payment card to the app. The new service is a strategic step for the company as it enables Swish payments in even more buying situations, further simplifying the everyday lives of its 8,6 million users. The new function in the app will initially be available for Android users. Following the long-awaited news that Apple is opening up their NFC functionality in Europe, Swish will work to enable payment cards in the Swish-app for iOS users too. The launch of this…

Mynt, a leading provider of corporate credit cards and spend management solutions, announced a €22 million funding round at a significantly increased valuation of approximately €175 million, led by Vor Capital, with participation from existing investors CNI, Incore and others. The Series B round brings Mynt’s total funding to over €50 million. The fresh investment will help fuel Mynt’s next phase of growth, with plans to expand into the UK and other European markets, broaden its product offering, and capitalise on growing demand for spend management among SMEs. UK and EU Expansion ahead Founded in 2018, Mynt isspend management solution…

In the last two years, some large banks have been hit with very public, lengthy – over 10 hours – disruption of their digital banking services. And that’s just the incidents we are aware of. Cases like these highlight the fears bankers may have in moving away from legacy systems in the name of innovation. Such unreliability erodes customer trust, impacts revenue, and perhaps most importantly, raises the ire of regulators. This fear factor also makes it harder for traditional banks to embrace going digital to fight neobanks and other digital-first financial institutions. Thus, many bankers and C-suites take a…

Sweden has established itself as one of Europe’s leading fintech hubs, supported by an advanced digital infrastructure, a progressive regulatory environment, and proactive government initiatives promoting fintech adoption. At the heart of this thriving ecosystem lies Stockholm, a city celebrated for its innovation, dynamic startup culture, and capacity to attract substantial venture capital (VC). Stockholm ranks fourth in Europe for VC allocation and is the 25th in the Global Financial Centres Index, boasting a remarkable finance sector comprising approximately 1,100 companies. As a leading fintech hub not just in the Nordics but across Europe, Stockholm is a launchpad for some…

TF Bank, a Swedish digital bank, has partnered with NICE Actimize, a provider of financial crime, risk and compliance solutions, to strengthen its anti-money laundering (AML) programme. The bank will implement NICE Actimize’s AML Essentials, a cloud-based suite that includes transaction monitoring, customer due diligence, and screening tools. Known for its rapid deployment and lower total cost of ownership, the solution is designed to optimise compliance and efficiency. The partnership reflects TF Bank’s aim to address global regulatory requirements while enhancing operational efficiency. NICE Actimize’s AML Essentials will leverage AI and an entity-centric approach to monitor money laundering risks across…

Fintech Farm, a digital finance innovation service provider and a fintech hub in Helsinki,  has released its annual review of the biggest fintech companies in Finland, ranking them according to their 2023 financial figures. The 2024 edition of report offers an in-depth look at the evolution of Finland’s fintech sector, revealing that the landscape has remained stable this year with around 210 companies. While new entrants continue to appear, a similar number exit the market each year, with consolidation emerging as a significant trend. Notable examples include FabricAI, acquired by Visma, and Poplatek, which was bought by Nets Group. In…

Mastercard announced the 20 top fintech, fintech-enabler, and impact tech startups that pitched at the 2024 Mastercard Lighthouse Startup Showcase in Stockholm. During the event, awards were presented to the MASSIV finalists and the winning FINITIV companies. Lighthouse FINITIV winners Lighthouse MASSIV finalists   Silcube, Betalo, Softloans, PryvX, Zero Labs, and RiverRecycle will follow us to SLUSH at the Grand Finale, where we will announce the program’s overall winner.

SEB Embedded, the banking-as-a-service platform of Swedish bank SEB, has partnered with Thought Machine to launch a new offering powered by the latter’s cloud-native core banking platform, Vault Core. This partnership has enabled SEB Embedded to launch a new banking service for its first client, Hemköp, one of Sweden’s largest supermarket chains, in under 10 months. The service, Hemköp Matkonto, offers customers single and joint current accounts designed to help manage food budgets and earn loyalty points, with the added benefit of in-store discounts. Hemköp Matkonto includes a linked debit card with Apple Pay and features self-service options such as…

Adyen has officially enabled Tap to Pay on iPhone end of October in five new regions: Sweden, Austria, Czech Republic, Ireland and Romania. The functionality allows businesses to use an iPhone to accept contactless payments, without the need to purchase or manage additional hardware. “We have seen how Tap to Pay on iPhone has changed how consumers and businesses experience mobile payments for the better across the many regions where Tap to Pay on iPhone is already available with Adyen,” commented Alexa von Bismarck, President EMEA at Adyen. “We’re proud to be expanding it to new countries together with Apple.”…