3 innovative FinTech companies based in Norway

By Leandra Monteiro

In the last few years, FinTech opportunities in Norway have increased exponentially. At present, the country has more than 120 FinTech companies providing all types of solutions such as digital banking, electronic payments, and more.

The country has recorded high levels of digital services adoption by consumers coupled with the use of digital identity solutions with digital infrastructure and internet and smartphone penetration close to 100%.

According to Statista, Norway’s largest segment will be Digital Payments with a total transaction value of US$27.26bn in 2022. In the Digital Payments segment, the number of users is expected to amount to 4.91m users by 2027. The Neobanking segment is expected to show a revenue growth of 41.4% in 2023.

Here are 3 FinTech companies in Norway to take a look at:

• Neonomics

Neonomics is an open banking disruptor unifying access to over 2,500 banks and 150 million bank customers across Europe via one of the most secure and cost-efficient pure PSD2 API platforms in the market. Authorized by the Norwegian FSA as a licensed payment institution the company is delivering payments initiation and account information services to a wide range of customers spanning FinTechs, payment service providers, banks and more.

• Zwipe

Zwipe’s technology solution enables simple and cost-efficient biometric authentication solutions in space- and power-constrained environments such as cards and wearables. Zwipe’s technology comprises a mix of power harvesting and management systems, biometric algorithms, manufacturing and packaging methods to deliver a secure, fast and intuitive authentication experience for users of biometric cards and wearables for payment, access control & ID.

Founded and headquartered in Oslo, Norway, its growing team is represented by 15 different nationalities in 12 countries across five time zones.

• ZTL Payment Solution

ZTL Payment Solution is a B2B Payment platform that challenge the banks Transactional Banking Services and their domain on corporate payments and remittances. Its global payment solution is built on smart technology utilizing PSD2. The company enables clever integration into its partners systems thru API building blocks to build customized payment solutions.

ALSO READ: Global Payments Vendors and Landscape Report Q3 2022