Iceland gets its first challenger bank

June 29, 2020 | FinTech

Written by FinTech Alliance

Iceland gets its first challenger bank

indó, Iceland’s first challenger bank, has selected a key partner for services.

In Brief:

  • It has partnered with Finnish FinTech Enfuce for payments, open banking and sustainability services.

  • indó plans to introduce the first new bank in decades to Iceland.

  • Its banking licence is currently pending.

What does this mean?

indó aims to offer customers in Iceland a simpler, more transparent banking service, as is the case with most challenger banks. It plans to launch a card-linked app and will offer competitive interest rates – but funding will be deposited with the central bank.

Read more here.

 

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