This week we discovered that Norway-based Finovate alum Signicat has teamed up with a German software program firm Cryptshare to market a brand new B2B identification verification resolution. The know-how combines e mail encryption and safe file switch with trusted sender and recipient identities to make enterprise communications safer and extra accountable.

In different fintech information from the Nordics, Santander Client Financial institution in Norway went reside with a new PFM app that leverages open banking options from Nordic API Gateway. Based in 2017 and headquartered in Copenhagen, Denmark, Nordic API Gateway made its Finovate debut final month at our all-digital fintech convention, FinovateEurope.

On the occasion, co-founder and CTO Gudmundur Hreidarsson demonstrated how the corporate’s platform simplified open banking funds and entry to monetary information, providing highly effective account-to-account cost providers via a single API. Greater than 40 monetary establishments in Europe – together with Lunar, Danske Financial institution, OP Monetary Group, and Checkout Finland – depend on Nordic API Gateway’s open banking providers.

“Present cost rails equivalent to playing cards are very costly for companies and and more and more inconvenient for customers,” Hreidarsson mentioned throughout his presentation final month. “Open banking adjustments that. It permits funds with low mounted charges per transaction quite than the excessive proportion charges of playing cards which may imply very important price financial savings for companies – and could be very handy for customers.”

“However moving into open banking and utilizing open banking is difficult,” he added. “It’s actually arduous. The APIs of the banks are gradual to mature and there may be nonetheless fairly some approach to go. Companies are simply beginning to notice what sort of use instances may be solved with open banking. And customers are solely now discovering the comfort of paying with their accounts. That’s why we constructed Aiia, to supply an open banking platform that merely works.”


Firms from the Nordics (Denmark, Norway, Finland, Sweden, Iceland, and Greenland) have been properly represented at FinovateEurope of late. This 12 months alone featured – along with Nordic API Gateway – two firms from Sweden: Stockholm’s Desires and Gothenburg’s Econans. Our most up-to-date in-person FinovateEurope convention – held in Berlin, Germany – featured three firms from the area, as properly: ReceiptHero and NordCheck of Finland, and Subaio of Denmark. Different Nordic fintechs which have demonstrated their applied sciences reside on the FinovateEurope stage through the years embody BehavioSec, Tink, and Klarna (Sweden); Encap Safety, EVRY, Monobank, and Spiff (Norway); Meniga and Trustev (Iceland/U.Okay. and Iceland); and Mistral Cell (Finland).

“It definitely appears that Schumpeterian destruction, the place creating new markets is preceded by outdated ones being challenged and even destroyed, applies within the Nordics,” the crew of Frida Jonsdottir, Olli Toivonen, Visa Jaatinen, Arttu Utti, and Richard Lindqvist wrote within the introduction to their FinTech within the Nordics: A Deloitte Overview. “The Nordic FinTech market is quickly rising and diversifying, with extra firms and new applied sciences being created. That is occurring no matter the truth that the incumbent monetary establishments are challenged by the lagging financial development charges and ever altering regulatory burden, each of which afflict those that want to enter the market.”

Learn the remaining of the Deloitte report on fintech within the Nordics. For extra about fintech within the area, take a look at:


Right here is our have a look at fintech innovation around the globe.

Central and Jap Europe

Center East and Northern Africa

Central and Southern Asia

Latin America and the Caribbean

Asia-Pacific

Sub-Saharan Africa


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