Norwegian FinTech companies

Norwegian FinTech companies

Norway and other Nordic countries are known to be among the most developed in the world. This fact spreads to most industries, including telecommunication, where FinTech companies are leading in innovation. In Norway, there are several such companies, which have lots of excellent features and services.

BankAxept

Remember mentioning how Nordic countries lead in innovation, this particular FinTech company was created back in 1990 as a way to connect all of and increase efficiency in transactions. Today, there are more than 8 million BankAxept cards in circulation in Norway and nine out of ten store transactions are conducted through BankAxept, representing almost 1.5 billion transactions in a year.

In 2014, BankAxept was re-launched to address the arising problems of the decade, and now they have hired Gemalto. Gemalto is a world leader in digital security based in Amsterdam, and BankAxept hopes to use their cloud-based connectivity solution to bring payments on mobile. Gemalto’s cloud-based system connects banks, institutions and individuals to a central point through transactions can be done instantly.

While BankAxept was trying to solve the problems of a cashless world in 2014 through the relaunch, the problem now is the increased use of smartphones. Besides that, reports that quite a large portion of the payments had some gambling roots. Coming back to the smartphones, in Sweden, for example, there is decreased use of cash, and BankAxept will help Norway get there by connecting mobile devices to the banking network. It makes this one of the most exciting FinTech companies in Norway.

Cloud Insurance

Founded in 2012, Cloud Insurance brings the insurance industry right down to the individual by providing insurance services online. By collaborating with insurance agents, they can offer insurance services to individuals and companies without them having to physically sign up. The platform also allows the claimants to file their claims online, either through their mobile devices or computers, and for their claims to be settled online too.

Since 2012, Cloud Insurance has spread to the UK and US, accumulating €100,000 EBITDA since then. This might seem like a small amount, but the company has not even engaged in any marketing. With a robust worldwide insurance industry, Cloud Insurance has the capacity to grow into a global leader in the FinTech sector.

JoyStream

To earn bitcoin, a miner has to use their computer’s processing power. Ethereum had a different idea, rewarding with ether those users who kept the Ethereum network running. This latter idea is what JoyStream is building upon, rewarding with bitcoin those users who keep the BitTorrent community running. It is the first such platform in the world and is already becoming popular through numerous mentions on Coindesk, Cointelegraph and other bitcoin-related websites.

Signicat

Since it was founded in Norway in 2007, Signicat has spread across Europe to become a popular solution for electronic identity. The company also won the Best Innovation Award in Europe for this service, and it is now trusted by large and mid-sized companies for its work.

Bidra.no

Crowdfunding was the basis for Ethereum’s DAO project, and Bidra.no is the largest such platform in Norway. It enables users to invest in the projects they want to from their mobile devices and earn profits from them.

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