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Angel Hristov December 6, 2023 3 min read
TrueLayer Announces Nordics-Oriented Tie-up with Lunar
The agreement will allow TrueLayer to innovate, while cementing it as a payments pioneer in the Nordics
Nordic challenger bank Lunar has teamed up with TrueLayer, a leading open banking payments network in Europe. The new alliance will see the two companies “redefine the payments landscape” across Denmark, Norway and Sweden.
According to the announcement, the new partnership will bolster TrueLayer’s instant payment capabilities in the aforementioned markets through seamless integration with Lunar’s payment infrastructure.
The new arrangement is made possible by Lunar’s decision to open its Nordic payment infrastructure to partners earlier this year. The challenger opted to open up to partners amid strong demands from national and international payment entities.
The partnership with Lunar will enable TrueLayer to access domestic payments across Denmark, Norway and Sweden. The open banking network will notably become the first major partner to leverage Lunar’s banking services.
As outlined in the report, the agreement will allow TrueLayer to innovate, while cementing it as a payments pioneer in the Nordics.
A Huge Opportunity for TrueLayer
Representatives commented on the new partnership, highlighting the opportunities it presents to both companies. Lunar’s co-founder and CEO, Ken Villum Klausen described the Nordics as a “difficult region to enter” for international banks and fintech companies. However, Lunar’s infrastructure allows its partners to navigate the complexities of the region and do business.
Our technology and banking service offering accelerates innovation and competition in the region as we enable some of the most innovative powerhouses to enter the Nordics and compete with local incumbents.Ken Villum Klausen, co-founder & CEO, Lunar
Klausen added that his team has invested a lot in this very infrastructure, making sure that it is able to deliver the “best everyday banking service” to its Nordic users. Thanks to that, the company is currently experiencing great interest from the market. Klausen concluded that this will provide valuable benefits to both businesses and consumers by making the Nordics more accessible for global businesses.
Truelayer’s vice president of global partnerships, Paiak Vaid, also commented on what this partnership will provide to his team. He said that his company will be able to extend its instant account-to-account capabilities in the region and empower merchants to offer enhanced payment experiences to their customers.
Through this partnership with Lunar, we will help resolve access barriers for international merchants in Nordic markets, tapping into the region’s digitally-forward consumer base.Paiak Vaid, VP of Global Partnerships, TrueLayer
Over a month ago, TrueLayer teamed up with the British gaming giant William Hill, agreeing to provide it with instant payment solutions.