Finnish FinTech company Saldo, a provider of loans to consumers and SMEs, is now poised to enter the banking services arena in Finland.
After undergoing a significant transformation since 2019, Saldo Bank is taking steps to become a comprehensive digital bank, as it is set to introduce its inaugural banking product, a traditional term deposit account. Notably, Saldo claims that this account will offer the highest interest rate available in the market, making it an attractive choice for customers seeking to grow their savings securely.
The move follows Saldo Bank securing a special banking license from the European Central Bank (ECB) back in 2021, enabling it to broaden its financial service offerings. Furthermore, in September, the company received regulatory approval to operate in Finland, marking an important milestone in its journey towards becoming a full-scale digital bank.
Saldo is actively preparing for expansion beyond the Finnish market. While already providing term deposits and consumer loans in Lithuania, the company has expanded into Germany and has outlined plans to enter the Swedish market in the coming year.
This expansion strategy underscores Saldo’s ambition to establish a strong presence in multiple European countries.
Jarkko Mäensivu, CEO, Saldo, said, “In the near future, we will offer new digital deposit and lending products. We aim to serve both consumer and business customers.”
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