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Swedish fintech Nstart aims to tackle over-indebtedness with sustainable lending

Nstart is working to challenge legacy credit models and growing over-indebtedness with new technology and methodology for sustainable lending. With intentions to offer highly indebted consumers an opportunity to regain control of their own finances, Nstart has built new precision screening technology to analyse consumers’ financial data in real time.

By controlling this risk, consumers with low credit ratings, apparently dubbed ‘non-lendables’, are provided with a solution that radically reduces costs and nudges the customer towards freedom of debt.

Daniel Ahrenby, Nstart CEO, says: “Our end-game, for all our customers, is to help them get rid of bad credit and free themselves of debt. We have redesigned the way to work with consumer credit completely, by building and using new technology for real-time credit data management, risk scoring and lending. It gives us a much deeper understanding of the customer's financial situation than what traditional lenders get. Being able to control risk in a better way, we can offer the market's most sustainable lending service.”

He adds: “We see similar consumer demand in a number of European markets, where growing e-commerce and BNPL behaviour are driving over-indebtedness. We aim to launch Nstart in a number of countries in the years to come, with the objective of taking the leading position in our field in Europe. We’ve just released our service in Norway where we see strong demand.”

Nstart also announced that they will be expanding to Norway, as part of a broader European roll-out.

DNB and Nets renew partnership

Nets Group revealed this week that it would extend its framework agreement with Norwegian bank DNB to include deliveries of payment services, information technology, and other financial services.

Torsten Hagen Jørgensen, CEO of issuer & eSecurity Services at Nets Group, says: “In Norway - one of the most digitised regions in Europe - we have extensive experience in issuing and indeed in growing the entire payment value chain. Extending our partnership with DNB strengthens our position as the leading enabler of Norway's payment infrastructure. We will continue to help drive DNB's ambitious digitisation and growth strategy, ensuring that Norway remains at the forefront of payment innovation.”