Stockholm, Sweden. Finshark AB (“Finshark”) today announces a new contract with Svea Ekonomi AB (“Svea”), where Finshark will deliver open banking financial services to the business area of Sales Finance. Finshark and Svea will mutually develop data-driven services within the area of “Finshark Financial Insights” to simplify and evolve Svea’s credit process.
Finshark’s data products are built using Finshark’s proprietary open banking technology which aggregates and analyses bank account data in real-time. These analysis enable, among other things, credit monitoring and real-time financial assessments which improve customer conversion and, at the same time, make the customer experience more user friendly.
Finshark is a payment institution licensed by the Swedish FSA (Financial Supervisory Authority) to provide both payment and account information services. The partnership with Svea is a milestone in the strive to become one of the major open banking service providers in the EU. Svea is one of the leading companies in Europe in corporate financial and administrative solutions.
“Being able to launch a partnership with Svea is great news for Finshark. We are truly happy and proud of the trust Svea is showing us. Working together with one of the leading providers of financial services in Europe and mutually developing new customer solutions is very exciting”, says Adnan Sporo, CEO of Finshark.
“Our challenge in a rapidly changing world is to stay up to date with accurate and relevant information about our customers. The partnership with Finshark will help us make fair credit scorings by providing us with open banking information”, says Jan Frödén, Business Area Manager of Svea Ekonomi.
This news is a part of the positive progress Finshark has been displaying during 2021. The company has among other things:
- Received its license from the Swedish FSA.
- Launched its own proprietary open banking platform integrating 99% of the bank accounts in the Nordics, providing the best coverage in the market.
- Won the first customers within both direct payments and financial insights.
- Expanded the team with additional sales and marketing resources.
“The technology we provide can give companies from a wide range of industries new advantages and possibilities to create even better customer offerings and experiences. Our platform solves both the technical and regulatory challenges that have existed so far. We are very happy and humbled by the positive responses we have been receiving so far”, Adnan continues.
Finshark is a Swedish fintech developing open banking services and is, from what we can tell, the only provider that has a platform that is truly 100% PSD2 compliant for payment initiation and data aggregation. Finshark is the perfect partner for businesses wanting to use open banking technology in the Nordic region. The company consists today of 25 FTEs, operational in the Nordic region with a comping expansion to the rest of Europe.
Kristian Sternros, Co-founder & COO
Jan Frödén, Business Area Manager Sales Finance
Finshark provides one of Europe’s leading open banking platforms and products, enabling financial institutions, fintechs, e-commerce and many more to develop data-based products and payments.
Through APIs, Finshark allows customers access to aggregated financial data, payment initiation, enriched payments, account verification and bespoke financial solutions. Finshark currently covers all major Scandinavian banks, both B2C and B2B. The company was founded in 2019 and the team consists of ca 25 today. Finshark is on a mission to enable all companies to be a part of the financial revolution. For more information, visit finshark.io.
Svea is a financial services group present in multiple European countries. The vision for Svea is to be a leading provider for financial solutions in Europe to both consumers and corporate customers. With over 2000 employees throughout Europe, Svea creates administrative and financial solutions for customers, small and big, in all industries.