Finextra is returning to Stockholm for the annual NextGen Nordics event, where attendees can look forward to in-depth discussions on a range of topics and much more.
In anticipation of the event, we would like to highlight some key Nordic stories you may have missed this year.
Swedish central bank calls for protection of cash
Riksbank has released its payments report, emphasizing the need to create legislation to guarantee that people can use cash for transactions. The report revealed a 10% drop in the number of banknotes circulating in Sweden in 2023. Riksbank Governor Erik Thedéen stated, "Payments must work for everyone. Although all payments may eventually become digital, cash remains crucial in the meantime. We need legislation to ensure cash can still be used for payments." He also stressed the importance of banks facilitating broader access to payment accounts for customers.
Saldo Bank expands to Sweden
Finnish neobank Saldo Bank has begun operations in Sweden, offering competitive interest rates of up to 5% on one-year fixed-term accounts. The fintech received its specialized banking license from the European Central Bank in 2023 and launched banking services in Finland shortly thereafter.
Klarna IPO anticipated
The Swedish buy-now-pay-later fintech Klarna is expected to go public later this year following its fifth consecutive year of net losses. Additionally, Klarna faced a fine of SEK 7.5 million ($733,000) from the Swedish Authority for Privacy Protection for inadequately informing customers about the handling of their personal data.
Danish fintech Safty raises DKK11.3 million
Safty has secured DKK 11.3 million in venture capital, led by Upfin and supported by notable angel investors, including Jacob Dah, a board member of Danske Bank. The company utilizes a combination of public and private data alongside machine learning to provide insights into customer needs for banks.
Zwipe backs out of payment card market
Norwegian biometric card company Zwipe has withdrawn from the payments industry due to low adoption rates for its fingerprint-enabled contactless cards. The firm is now restructuring and shifting its focus towards the biometric access control market.
Register here for NextGen Nordics 2024. View the full agenda here. For more information on event sponsorship, please contact events@finextra.com.