Nordea turns to Divido platform for lending push
Nordea will use Divido’s technology under its own brand and roll out the platform, beginning in Norway, followed by Finland, Sweden and Denmark.
A licence to thrill… in lending
Divido is a London-based consumer finance firm and offers a multinational white-label platform for point-of-purchase lending.
Christer Holloman, CEO and co-founder, Divido, explains: “By licensing Divido, Nordea Finance will have access to technology that enables it to differentiate its product proposition and offer new credit products at the point-of-purchase.”
He adds: “Nordea Finance merchants will be able to access multiple markets through a single integration, saving them money, time and effort.”
According to Divido, the bank didn’t want to build a new lending platform in-house to replace its current legacy systems.
Divido’s technology is used by over 1,000 partners – including BMW and Shopify. It was backed by Mastercard and American Express Ventures in its latest funding round.
In other Nordea-related news, the plan for a pan-Nordic payment network will see formal investment and the creation of a legal entity later this year.
Nordea is one of the banks behind Project 27 – so-called for the 27 million people who live in Sweden, Norway, Denmark and Finland.
