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IBOS member Nordea is taking up residence at fintech hubs and accelerators around the Nordic region.

This week, Norway took centre stage when Nordea’s CEO visited Oslo-based TheFactory, which is running accelerator programmes for startups. TheFactory is running two tracks – FintechFactory and InsurtechFactory – and Nordea is a partner for both programmes.

Nordea is already partnering with fintech startups in the Nordic region, including Spiff in Norway, which has developed a new social savings app, and Fjuul in Finland, which has developed a fitness app that turns exercise into rewards, such as discounts on insurance. FinTech startup, ‘Digipig’, aims to turn the old-fashioned ‘piggy bank’ into a digital piggy bank connected to your child’s bank account.

Partnership is at the core of Nordea’s banking philosophy, as the bank continues to seek new partners, new ideas and new business models to delight its customers with innovative products and services. As the very nature of banking is changing – and changing fast – driven by these new customer expectations and by new technology, customers and society will benefit as old and new companies work together to develop better products and services.

Casper von Koskull, CEO at Nordea Group, commented:

“I think we all benefit; the digital revolution has never been as imminent as it is today.”

Perhaps the biggest change to the way the banking industry is operating is what’s known as Open Banking. Nordea was one of the first in the Nordic region to announce its open banking developer portal, where fintechs and other external developers are invited to create new products and services for Nordea customers at a faster pace.

Access the press release, via Nordea’s website, here.