Some of the most influential Fintech products that came from Finland by@becka

Some of the most influential Fintech products that came from Finland

Becka Maisuradze HackerNoon profile picture

Becka Maisuradze

Becka is an amateur software developer from Georgia. He's interested in blockchain and AI.

The number of fintech companies that are in Finland has seen amazing growth over the years, with the country currently housing approximately 180 companies and covering all the different field of fintech such as:

  • Payments
  • Financing
  • Insurance
  • Security and compliance
  • Customer services and acquisition
  • Financial software
  • APIs and platforms
  • Data and analytics
  • Wealth management
  • Blockchain
  • Cryptocurrencies
  • Personal finance management

The primary advantage of the fintech industry in Finland is that they target a B2B partnership 99% of the time. However, this can get pretty old pretty quickly. Once you’ve signed a contract with one bank in the country, it’s usually impossible to provide service to another due to competition laws or legal binds outlined in the agreement.

Because of this, Finnish fintech companies have been trying their best to diversify their coverage and found the goldilocks zone within microfinance corporations and online gaming platforms in the country.

The relevancy of fintech in Finland was outlined by none other than online casinos in recent weeks. You see, casinos are companies that absolutely love mergers and acquisitions. The brand very rarely manages to survive on its own without a large corporation backing it up. The most recent event was Red Tiger games providing SoftSwiss, a white label provider for brands such as Spinia and Playamo, with a list of its games. Due to the decreased budget from the listing, SoftSwiss was planning on toning down the innovation implementation process for these brands. However, thanks to Spinia casino Finland, a Finnish branch of one of the brands the investments were retained.

The arguments were pretty convincing if a large corporation changed its mind. It was as if the branch would not survive without these innovations, and it’s quite realistic.

But enough about these specific examples, especially of taboo industries. Let’s take a look at what Finland really has to offer to those interested in fintech, and most importantly, to the world waiting for the next financial miracle.


Bankify is an app that offers its clients a set of microservices that are tailored to tech-savvy individuals and help to improve their experience with digital/mobile banking. 

Some of their services feature gamified savings to further improve the gaming experience of their users, alongside personalized content and secure group payments. 

With their slogan being “Impacting Millennial Banking”, it is no surprise to see them specialize in products that cater to the tech-savvy millennials and Gen Z’s

Below are some of the tools Bankify uses to achieve this goal:

Microsaving - A tool that can be used to personalize saving goals and plans, providing a simple way for users to track their progress and increase retention.

Automated Savings - Customizable and data-driven, this tool allows users to automatically save deposits that are linked to transactions. It is based on a behavioral patterns system, allows for modification of savings rules for added personalization and introduces social aspects to savings.

Data Intelligence - A recommendation engine that increases user experience. This tool gives personalized recommendations based on individual insights and enriched user data. Furthermore, it can be linked with 3rd party APIs to create the ultimate personalized experience.

Group Payments - A hassle-free way for communities to manage expenses. It allows its users to pool money and handle shared costs through a virtual card account.


The company aims to solve complex issues for banks, fintech companies, financial operators and merchants, settling for nothing less than perfect. Enfuce enables them to build their own solutions to problems and empowers them to succeed.

Enfuce utilizes the latest cloud technology to build some of the finest services in payments and open banking.

In regards to the payment services, Enfuce offers all the functionalities to meet market demands like tokenization, Apple, Google and Samsung Pay, digital cards, instant issuance, mobile wallets and more. Supported by both MasterCard and Visa.

Additionally, Enfuce helps banks, financial institutions, and fintech companies to deliver the power & promise of PSD2 and Open Banking.

Their cloud-based services minimize the operational impact and maximize the potential of open banking, letting you focus on growing your core business by delivering the features and products that your customers want.


Invesdor is a company that offers an online platform where retail and institutional investors can invest in unlisted European growth companies seeking funding.

Their goal is to modernize investing and make it easily approachable, transparent and fair.

Invesdor offers services for both investors and companies that are seeking funding. Investors get opportunities to invest in exciting companies ranging from fast-growing startups to established corporations alike. 

For companies, they provide various fundraising opportunities in currently 8 European countries and from a combined 60,000 investors registered on their platforms.

Furthermore, they offer a unique Platform-as-a-Service (PaaS) products for financial institutions, providing their technological solutions for their PaaS partners to use in hosting their funding rounds.


With more than 14 years of experience and generating more than $200 million worth of revenue, Ferratum is a true market leader in Finnish FinTech, with their main goal being to provide 

Ferratum offers a wide range of lending products for individuals, providing them the opportunity to pursue their ambitions. Additionally, banking that runs on a channel-agnostic flexible customer interface and back-end data engine, providing a full suite of financial services.

Moreover, they offer 6-18 months loans for small and medium enterprises (SMEs), to help them fund expansion, marketing, hiring new talents, purchasing or leasing equipment and inventory purchases and overall, provide increased support for entrepreneurship.

*This article has no promotional value for me. I personally chose these brands based on their merit and offered products/services.

Enter the Blockchain Writing Contest

Becka Maisuradze HackerNoon profile picture
by Becka Maisuradze @becka.Becka is an amateur software developer from Georgia. He's interested in blockchain and AI.
Read my stories


Signup or Login to Join the Discussion


Related Stories