Nordiska Gains Direct Access to Swedish Payment Rails via Finastra

Previously reliant on third-party institutions to access central bank money, Nordiska is shifting its operational model to gain full autonomy over its transaction flows. The implementation of Finastra’s infrastructure connects the challenger bank directly to the global Swift network and the Riksbank’s real-time settlement system. This transition sets the stage for future integration with RIX INST, allowing the bank to scale its services while reducing overhead costs associated with external banking partners.

Jonas Hultin, Chief Product Officer at Nordiska, noted that the move provides a streamlined, scalable platform essential for the bank’s ongoing expansion. By managing liquidity in-house, the firm aims to deliver faster, more cost-effective services to its consumer and merchant base. For Finastra, the deal serves as a strategic foothold in the Nordic market, demonstrating the utility of its payment bureau services for mid-sized financial institutions navigating increasingly complex regulatory requirements and heightened expectations for system resilience.