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A unique banking operation


Stockholm-based Nordiska was founded back in 2014, and today provides any company that is harbouring ambitions to become a financial institution, the possibility to be just that, by providing technology, compliance and business driving liquidity.

Customer base

30 000+



Mambu's role

Cloud banking platform

Nordiska is a fully licenced and regulated Swedish financial institution. Up and to a change of ownership in 2014, it only offered public savings accounts and traditional lending products. The new owners carried a heritage of entrepreneurship including co-founding a very successful insurance network in the Nordics, entirely based on distribution technology - the inspiration behind the new Nordiska.

Interview with Niklas Andersson, Nordiska's CTO, in Stockholm, Sweden (Nordiska's headquarters).

The company embarked on a journey to provide any business harbouring ambitions to become a financial institution, the possibility to be just that. This could be achieved through three components – compliance, funds and technology, with technology being both the greatest challenge, as well as the greatest advantage of the final product.

Mambu was brought on board to help Nordiska implement a modern cloud platform that would provide flexibility and a single view of the customer through a fast and flexible modern tech stack, as well as work with a host of partners through open APIs.

The development began in 2016 when a new ecosystem to support the vision took shape. Utilising .net core technology developing microservices to support integrations via APIs, the team built the foundation for the Nordiska Integrated Partner solution with Mambu providing a fully scalable, cloud-native core banking backend to handle all production data and transactions. It allowed Nordiska the ability to tailor, launch and change products in only weeks or months instead of years. Through an API-enabled architecture, Nordiska is able to work with any service provider that supports its business strategy instead of being tied into vendor-specific products and services.

One of the first fully licensed operations that has taken a wholly digital approach.

nordiska mambu

Nordiska is now able to offer core banking services via APIs to fintechs to enable them to transfer and manage promissory notes through Nordiska’s system if they lack a license or liquidity to issue credit, broker or affiliate.

Nordiska Integrated Partner launched in March 2018 and started scaling in May 2019. As a result, Nordiska has gone from being a traditional financial institution to becoming a leading provider of open banking. Within months of full go-live, they’ve expanded from Sweden to Finland and Germany. This dynamic approach pegs them as an institution that can change how fintechs are created and grow.

Nordiska website screenshot
A man looks across a scenic lake view.
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Today Nordiska is truly agile, with the ability to centralise and work with partners to move and change fast, be fully compliant and utilise the full power of their data and systems to offer better service to customers.