Ikano Bank picks Nets for consumer finance solution in Nordics, UK, Germany, Poland and Austria

Having already established a card processing relationship, Ikano Bank has decided to take its relationship with the European payment provider Nets to the next level.  

The deepened partnership will see Ikano bank use Nets’ full-scale lending platform, issuer processing and related services to support Ikano Bank’s consumer finance services in all markets.

“We chose to build on our existing relationship with Nets because it offers a simple, innovative and competitive solution that would support the evolving needs of our customers,” said Peter Axemo, head of products of Ikano Bank. “Nets worked hard to tailor an end-to-end solution specifically to Ikano Bank’s needs.”

Torsten Hagen Jørgensen, CEO of issuer and esecurity services at Nets added, “This expanded partnership is an important milestone for Nets’ expansion into Europe. By consolidating our range of services under an innovative commercial model we will enable Ikano Bank to grow in both existing and new geographies through utilising Nets’ modern, digital and open technologies. Our goal is to help issuers like Ikano Bank refocus their valuable internal resources on core business objectives, unburdened by complexity and the weight of making it all work together.”

Ikano’s goal is that the new partnership will enable it to launch the first accounts and products to Ikano Bank’s customers in autumn 2020.

Copyright © 2020 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.