Nordic Payments Area – P27

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Silicon Valley Bank expands to Sweden

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Silicon Valley Bank expands to Sweden

Silicon Valley Bank (SVB) UK has announced further Nordic expansion with the establishment of a representative office in Stockholm. SVB previously opened an office in Denmark in late 2019.

Banks and technology partners join EU-wide pilot of digital IDs

/identity

Banks and technology partners join EU-wide pilot of digital IDs

A new multi-country consortium of European identity experts has firmed up a proposal to deliver a large-scale, cross-border payments pilot.

Banks join Finnish initiative to build digital identity network

/identity

Banks join Finnish initiative to build digital identity network

The Finnish Ministry of Finance has granted the Findynet Cooperative, which includes Nordea Bank and OP Financial Group among its members, a €3 million government grant to build a pilot environment for a self-sovereign identity network.

Walletmor sells payment implant number 1000

/payments

Walletmor sells payment implant number 1000

British-Polish startup Walletmor has sold its thousandth biopolymer payment device that can be implanted just under the surface of the skin.

Circular economy fintech Fairown expands to Poland

/startups

Circular economy fintech Fairown expands to Poland

Sustainability-focused fintech, Fairown, has announced plans to expand into central Europe and develop a circular economy, by helping banks and vendors offer products as a service. The platform will join forces with Apple Premium Reseller Cortland and Inbank for its launch in Poland.

Tietoevry considers spin-off and listing of banking unit

/payments

Tietoevry considers spin-off and listing of banking unit

Finnish IT services provider, Tietoevry, has announced that it is mulling over the option of separating and listing the Tietoevry Banking unit, as part of a wider strategic review.

Lightyear expands across Europe on $25 million fund raise

/startups

Lightyear expands across Europe on $25 million fund raise

Lightyear, a commission-free investment platform founded by two early Wise employees, has raised $25 million as it launches into 19 European countries.

Paytrail and Mastercard hit monthly open banking milestone

/payments

Paytrail and Mastercard hit monthly open banking milestone

Paytrail and Mastercard’s partnership through Aiia - an open banking platform, is now enabling more than one million open banking payments each month.

Klarna valuation to drop from $46bn to $6.5bn in new funding round - WSJ

/payments

Klarna valuation to drop from $46bn to $6.5bn in new funding round - WSJ

Klarna is closing in on a funding round that would see the BNPL giant's valuation slashed from $45.6 billion last year to just $6.5 billion, according to the Wall Street Journal.

Swedish banks to commence testing of P27

/payments

Swedish banks to commence testing of P27

After two years of painstaking prepartion, more than a dozen banks connected to Swedish mobile payments system Swish are set to test the pan-Nordic payments platform P27 by the end of the year.

NextGen Nordics: Who started the rumour that CBDCs will replace cash?

/crypto

NextGen Nordics: Who started the rumour that CBDCs will replace cash?

Niamh Curran, Finextra reporter, took to the stage to question Faisal Islam, fintech/regtech specialist at Sentinels; Anders Olofsson, head of payments at Finastra; and Ville Sointu, head of emerging technology at Nordea about digital currencies and whether they will have the capacity to transform payment systems and how cash is used.

NextGen Nordics: P27 provides updated timeline

/payments

NextGen Nordics: P27 provides updated timeline

NextGen Nordics marks the first in person event run by Finextra since 2019, and the impact of the Covid-19 pandemic on payments was something Gary Wright, head of research at Finextra, reflected on in his keynote speech.

NextGen Nordics: Banking app for Ukrainian refugees launched

/inclusion

NextGen Nordics: Banking app for Ukrainian refugees launched

Ahead of our NextGen Nordics conference on 27th April 2022, we will be putting together a weekly briefing of selected top stories that are emerging out of the region and setting the blueprint for payments innovation across Denmark, Finland, Iceland, Norway, and Sweden.

P27 Nordic Payments secures merger approval from EU Commission

/payments

P27 Nordic Payments secures merger approval from EU Commission

The European Commission today announced merger approval for the P27 Nordic Payments initiative to establish its pan-Nordic payments platform. This approval marks a significant milestone for the initiative which is working toward the creation of a common payments infrastructure across the Nordic region.

EBAday 2021: Modernisation, a catalyst for payments utopia

/payments

EBAday 2021: Modernisation, a catalyst for payments utopia

With day two now under our belt, we are only just beginning to digest the eyewatering number of insights shared across six panel sessions, two roundtables, a lively chatroom forum and of course, non-stop networking on the EBAday platform.

EBAday 2021: The road to payments transformation

/payments

EBAday 2021: The road to payments transformation

After the success of EBAday 2020, the event will again run in digital format on 28-30 June 2021 for its sixteenth year, welcoming a host of board directors, chief executive officers and payments and technology heads from Europe’s leading banks.

Nordic change is in the air for 2021

/payments

Nordic change is in the air for 2021

As part of Finextra’s Predictions Series for 2021, Hannah Wallace spoke to Erik Zingmark, Nordea’s head of transaction banking to unpack some of the leading trends he expects to see throughout 2021.

EBAday 2020: It’s do-or-die time for real-time payments

/payments

EBAday 2020: It’s do-or-die time for real-time payments

Launching into the session ‘Reaping the potential of real-time payments’, Dean Wallace, director of real-time payments, digital and request to pay, ACI Worldwide argues that the expectations of the market will only continue to evolve, pressuring financial institutions to finalise their real-time payments (RTP) strategy.

EBAday 2020: Batch processing gives way to the instant payments revolution

/payments

EBAday 2020: Batch processing gives way to the instant payments revolution

At EBAday 2019 in Stockholm, Deutsche Bank’s Koral Araskin highlighted that if instant payments is the new normal, banks will heavily depend on cash buffers to cover all payment flows - even those which come outside of normal working hours. "Is this really meaningfully achievable?" he pondered last year. The events of 2020 and the impact of Covid-19 have truly shown that it must be achievable.

Can RtP offer the agile approach needed in the post-Coronavirus recovery?

/payments

Can RtP offer the agile approach needed in the post-Coronavirus recovery?

As the world recovers from the Coronavirus pandemic, it is assumed that financial institutions and other businesses will need to adopt new ways of working to navigate what is said to be one of the worst economic downturn in recent years.

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