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KapitalKontroll & Neonomics to deliver debt management via Open Banking

By Gloria Methri

January 19, 2023

  • Debt Collection Company
  • Debt Management Platform
  • FinTech
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Neonomics, Open Banking, Norway, FinTechKapitalKontroll, an innovative Norwegian provider of debt management services has partnered with Neonomics to launch a fully automated debt collection system that manages all payments through Neonomics’ open banking platform.

The aim is to increase efficiency and security for KapitalKontroll customers, who include an extensive list of Norwegian municipalities and both small and large businesses across the country.

As much as 40 percent of the Norwegian collection debt of NOK 115 billion kroner, consists of fees and interest. For KapitalKontroll’s large customers, fees, and interest amount to only 4 percent, as its core focus has been on delivering a more efficient operating model.

Municipalities across Norway benefit through KapitalKontroll’s low-fee model, and now will also be able to offer end users the ability to complete payments directly from their bank accounts in a secure way.

Kristoffer Årvik, CEO of KapitalKontroll said, “We are excited to work with Neonomics to enable fast, secure, and user-friendly payments for our customers and end users. We look forward to working closely together to deliver and further develop innovations within this space thanks to Neonomics mix of technical performance, cost, and support.”

Account-to-account payments are an ideal payment method for debt management service providers because of its efficiency and security both for merchants needing collection services and for end users completing payments.

Speaking on behalf of Neonomics, CEO Christoffer Andvig said, “We are pleased to be working closely with KapitalKontroll to help further evolve the great work they’re doing in the debt management space. The combination of KapitalKontroll’s operating model and our open banking solution will help drive efficiencies across the business benefiting every stakeholder in the value chain.”

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