The challenger bank industry in the Nordics has taken another step forward with Rocker tapping Enfuce, the Finnish FinTech startup, to enable it to issue Visa cards and process payments.
â€œWe are a tech company building a retail banking platform with services that are more flexible, super easy to use and more affordable,â€ said Oscar HylÃ©en, deputy CEO and head of communications at Rocker. â€œAs we expand towards our vision of becoming Europeâ€™s number one future neobank and offer people the chance to replace their old bank, we need strong and flexible infrastructure partners to be part of the platform creation.â€
The deal will enable Rocker, formerly known as Bynk, to issue feature-rich cards compatible with any payment method, currency or geography, which helps the company in its announced plans to expand its business on a European scale. Integrating with Enfuceâ€™s web-based API will also enable the neobank to seamlessly control features like dynamic spending limits, push notifications and geo blocking.
â€œWeâ€™re excited that Rocker chose us to power their cutting-edge neobank service,â€ said Monika Liikamaa, co-founder and chairman of the board at Enfuce. â€œThrough our card-as-a-service solution, they can launch modern payment services easily and securely. Weâ€™re thrilled to work with a team of innovative professionals who are building extraordinary products within personal finance.â€
Rockerâ€™s deal with Enfuce is the latest in a line of events that highlights that things are starting to move faster in the Nordic challenger bank scene. Over the last two months, both Icelandic challenger bank indÃ³ and Danish rival Lunar have raised investment rounds to strengthen their hold of the market.
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