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4 notable Finnish FinTech companies to watch out for in 2021

By Megha Bhattacharya

December 22, 2020

  • Bankify
  • Enfuc
  • Finland

FinTech, ASEAN, trends, blockchain, Artificial intelligence, remittances, digital banking, Augmented Reality, financial inclusion, RegTech, Security, lendingFinland is an internationally recognised FinTech hub with major activities clustering around the capital city of Helsinki. According to a study, Finnish FinTech companies benefit especially from the steady business environment, extensive mobile device know-how, strong cybersecurity cluster, and frameworks in open source, data and API. A high level of competence and the strong ecosystem around technology start-ups create good premises for Finland to be a significant operational environment for FinTech.

Check out these 4 rapidly expanding Finnish FinTechs –

  1. Enfuce

Established in 2016, Nordic FinTech Enfuce provides payment and open banking services to banks, FinTechs, financial operators, and merchants.

Recently, FinTech Enfuce has teamed up with Swedish open-investment platform StockRepublic in a bid to offer a trailblazing fund and stock solution for financial institutions today. The open-investment platform was enabled by Enfuce’s APIs to develop a fully compliant and secure application that helps players within the banking sector embrace the new opportunities opened by Payment Services Directive 2 (PSD2).

Enfuce is also a Financial Supervisory Authority certified company that runs its services in the public cloud. They currently offer a platform for credit and payment cards and fast-to-implement PSD2 compliant interface services.

  1. Bankify

Helsinki-based Bankify’s services help customers to use existing financial applications in alignment with their digital native requirements. These services are developed with a focus on customer-centric use-cases. By the connection of the FinTech’s services into an existing mobile application, financial institutions can accelerate their time-to-market speed in weeks.

FinTech Bankify recently entered into a partnership with Neonomics in a bid to offer enhanced personal financial management services to clients with the help of open banking. The collaboration is expected to enable Bankify to comply with PSD2 regulations and offer instant access to banks and other TPPs via one unified API.

Neonomics’ customers will also gain access to the FinTech’s PFM microservices comprising of features such as gamified savings, secure group payments, and personalised content.

  1. Mash

Mash is a payment solutions provider.  Mash´s fully automated and internationally scalable payment services allow for consumers to make easy and flexible payments at partnering online and offline stores and service providers. It also offers real-time credit solutions for consumers under the Euroloan brand, mainly in the form of unsecured consumer loans.

Finnish FinTech Mash has entered into a collaboration with payments supplier Ingenico in a bid to provide its ‘pay later’ solutions to merchants across Spain. The partnership aims to propel merchant sales in the country through an increase in sales conversion rates and an enhanced customer experience.

The FinTech is headquartered in Helsinki, Finland with offices in Luxembourg, Madrid, Stockholm and Warsaw.

  1. Invesdor

Invesdor Group is a pan-European digital investment and financing platform for companies of all life stages, from startups to large corporations. Through its parent company, Invesdor Ltd, it holds a MiFID II license and offers a wide range of digital financing solutions.

The company is a European fundraising and investment platform as well as a digital investment bank and is regulated by the Finnish Financial Supervisory Authority.

The company is licensed to help companies from 28 countries in the European Economic Area (EEA) to hold funding rounds. It currently operates in Finland, Sweden, Denmark, Norway, Austria and Germany. The Group is headquartered in Helsinki, with offices in Vienna and Berlin.

ALSO, READ: Open Banking Roadmap for Mid-sized banks in Europe by IBS Intelligence

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