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:
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Smart business credit cards with customizable, real-time spending limits
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Automated expense tracking with AI-powered receipt capture
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Instant accounting synchronization with major platforms like Fortnox and Visma
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Built-in compliance monitoring to streamline regulatory requirements
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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:
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Embedding fintech innovation directly into core banking services
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Future-proofing offerings for digitally-native businesses
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Maintaining regulatory compliance while enhancing user experience
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Expanding value-added services beyond traditional banking
Mynt’s Breakthrough Moment
The deal marks several milestones for the Stockholm-based fintech:
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First major banking partnership since its 2021 founding
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Validation of its €22M Series B funding led by Vor Capital and Visa
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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:
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30-40% adoption rate projected among Nordea’s SME clients
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New competitive standard for Nordic business banking
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Potential expansion into other European markets
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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.
