Saldo Bank has been named by the Helsinki Fintech Guide 2022 as a frontrunner in a new generation of financial services in the Nordics. Historically, the Finnish financial market has only faced competition from Sweden and Norway, so domestic challenger banks are largely considered a breath of fresh air.
Three domestic challenger banks, including Saldo, are shaking up the traditional retail banking scene with digital-first offerings and forward-thinking approaches that have been welcomed by individuals and businesses across the Nordics.
In a recent interview with the annual industry publication, Chief Executive Officer Jarkko Mäensivu, discussed Saldo’s unique selling propositions, banking licenses, and plans for the near future.
When asked to compare Saldo’s model to traditional banks, Mr. Mäensivu took the opportunity to highlight Saldo’s points of difference, focusing particularly on the ability to make fully automated and instant credit decisions with the backing of state-of-the-art technology and a multifaceted approach that protects the customer and the business.
Smart and continued investment in technological solutions has put Saldo ahead of the pack in terms of analytics and data function. Additionally, the ability to scale brings a high level of confidence and determination to the growth plan for 2023 - 2024.
Mr. Mäensivu explained that a Lithuanian banking licence allowed Saldo to align with a fully digital system with digital regulatory reporting, ensured transparency, and gave access to a strong talent pool which accelerated Saldo’s set-up in Vilnius.
Sharing plans for the years ahead, Mr. Mäensivu shared that several new products would be launched, Saldo’s footprint would expand into new geographical locations, and that seamless customer service would remain a focus as this is largely seen by the business as the key to portfolio and market expansion.
Read more about Saldo obtaining the ECB’s specialised banking licence.