Ikano Bank builds on Nets partnership to power new lending platform
Sweden-based consumer finance firm Ikano Bank has selected payments services provider Nets to power its lending platform, issuer processing and related services.
Nets sees the deal as part of a European expansion
The four-year contract will see Nets providing a “full-scale lending platform” to support Ikano Bank’s consumer finance services in all markets.
The first accounts and products to be launched under the new system are expected to release later this year.
Ikano and Nets are building on an existing partnership, which the latter sees as an important part of its expansion plans in Europe.
Paul Axemo, head of products at Ikano Bank, says that it chose to build its partnership with Nets because of the vendor’s “simple, innovative and competitive solution.”
According to the bank, Nets has created an end-to-end platform specifically tailored to Ikano’s needs.
“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,” says Tortsen Hagen Jørgensen, CEO of issuer and e-security services at Nets.
“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.”
