Sweden


Investment firm Permira buys into Klarna’s banking ambitions

Investment firm Permira will acquire a 10% equity stake in Swedish payments and banking firm Klarna. As part of the deal, Permira will buy shares from existing shareholders General Atlantic, DST Global and Niklas Adalberth, upon receipt of approval from the Swedish Financial Supervisory Authority (Finansinspektionen). Once the transfer is complete, General Atlantic and DST […]

Klarna enters the big time with banking licence

Payments provider Klarna has powered up with a full banking licence from Finansinspektionen, the Swedish Financial Supervisory Authority. Sebastian Siemiatkowski, CEO of Klarna, says it is “now one of Europe’s largest banks with 60 million customers, 70,000 merchants and working seamlessly across borders”. With the licence, Klarna states it can broaden its product portfolio for […]

Sweden’s SEB selects CGI for trade transaction action

Swedish financial services group SEB has selected Canada-based CGI’s Trade360 solution for trade finance and emerging digital technologies, such as blockchain. CGI Trade360 is a cloud-based transaction platform and includes a portal for end-to-end transaction management, including regulatory compliance. SEB is the first bank headquartered in Europe that will implement the solution. Robert Pehrson, head […]

Nordea innovation homes in on Stockholm

Nordea Bank has teamed up with the Stockholm Fintech Hub (SFH) for innovation ambitions and to connect with start-ups, financial institutions and regulators. The bank says a number of people from Nordea will move into the space, so it can talk and work with start-ups, bigger companies, other banks and “new players” like IBM and […]

Sweden to launch fintech hub

Stockholm Fintech Hub – an independent not-for-profit innovation hub – will open its doors in Q1 2017. Its aim is to promote and accelerate the development of fintech, insurtech and regtech start-ups.

What can we learn from Sweden’s domestic payment system quandary?

The Nordics have a unique model for domestic payment processing, but some of the upheavals in the system provide a lesson for other countries debating faster, upgraded payments initiatives. Owned by the eight largest banks in Sweden, Bankgirot is the clearing house for domestic payments in Sweden, and provides the banks with payment product and […]

Nordea rolls out web-based trade finance tools

Nordic financial services group Nordea has gone live in Frankfurt and London with a web-based trade finance solution, which it says will help to strengthen its international trade finance business.

Finland’s Alandsbanken adopts SunGard risk management tools

Nordic bank Alandsbanken has chosen risk management tools from SunGard, which it says will help the bank to comply with new financial regulations. SunGard’s Ambit Risk and Ambit Performance products will be used by the bank to manage interest rate and liquidity risk and help the bank keep track of its balance sheet.