Nordea and Mynt Partner to Launch SME Expense Platform Across Nordics

July 23, 2025 • FinTech News
Nordea and Mynt Partner to Launch SME Expense Platform Across Nordics

Strategic Alliance Brings Cutting-Edge Financial Tools to SMEs

Nordea, the Nordic region’s largest financial services group, has announced a groundbreaking partnership with Swedish fintech innovator Mynt to develop a comprehensive spend management and business credit card solution tailored specifically for small and medium-sized enterprises. Scheduled for launch in 2026, this collaboration will deliver next-generation financial tools to businesses across Sweden, Norway, Denmark, and Finland – markets where Nordea serves approximately 1.4 million SME customers.

Comprehensive Digital Solution Packed with Time-Saving Features

The white-labeled platform merges Nordea’s established banking infrastructure with Mynt’s advanced technological capabilities to create an all-in-one financial management hub. Key features include:

  • Smart business credit cards with customizable, real-time spending limits

  • Automated expense tracking with AI-powered receipt capture

  • Instant accounting synchronization with major platforms like Fortnox and Visma

  • Built-in compliance monitoring to streamline regulatory requirements

  • Multi-user access controls for enhanced financial oversight

Revolutionizing SME Productivity

The solution addresses one of the most persistent pain points for small businesses – excessive time spent on financial administration. Current manual processes require:
⏳ 45 minutes to process a single expense report
📑 12-15 steps for typical expense approvals
💼 18% of work hours spent on financial admin (Nordic SME average)

Mynt’s automated system slashes this burden by 95%, completing the same tasks in just 30-120 seconds while reducing errors by 80%.

Nordea’s Digital Transformation Reaches New Heights

This partnership represents a strategic leap in Nordea’s digital evolution by:

  1. Embedding fintech innovation directly into core banking services

  2. Future-proofing offerings for digitally-native businesses

  3. Maintaining regulatory compliance while enhancing user experience

  4. Expanding value-added services beyond traditional banking

Mynt’s Breakthrough Moment

The deal marks several milestones for the Stockholm-based fintech:

  • First major banking partnership since its 2021 founding

  • Validation of its €22M Series B funding led by Vor Capital and Visa

  • Strategic foothold in the lucrative Nordic business banking market

“Through this collaboration, we’re fundamentally changing how financial institutions serve growing businesses,” said Baltsar Sahlin, Mynt’s CEO and co-founder. “Our technology gives SMEs back hundreds of hours annually to focus on what really matters – serving their customers and scaling their operations.”

Redefining the Future of Business Banking

As the 2026 launch approaches, industry analysts highlight several potential impacts:

  • 30-40% adoption rate projected among Nordea’s SME clients

  • New competitive standard for Nordic business banking

  • Potential expansion into other European markets

  • Increased pressure on traditional banks to modernize

With small businesses representing 99% of all enterprises in the Nordic region, this partnership positions Nordea and Mynt at the forefront of a banking revolution – one that promises to make financial management faster, smarter, and more intuitive for the engines of the regional economy.