Northmill and Trustly announce collaboration for simpler transactions in real time

Northmill is initiating a collaboration with payments company Trustly to simplify the credit handling process towards consumers. Through Trustly, Northmill is now capable of doing bank payments to its 200,000 users in real time.

Common for Trustly and Northmill is their alignment toward creating simple, fast and safe financial transactions and increase availability for consumers with the help of new, innovative technology. The cooperation with Trustly is in line with Northmill’s mission to simplify everyone’s financial life and show how new fintech-innovations can develop traditional financial services.

In line with rapidly evolving technology, financial services have an ever increasing expectation of mobility and availability. Trustly’s method for direct transfers and online payments from bank accounts enables Northmill to send payments to banks in real time.

– There is a gap today between what banks are offering and what consumers are looking for. With our financial services, we want to become the hub in our costumer’s lives, and by having access to our services 24 hours a day, and a support team that’s available every day of the year, we want to simplify the life of many people, and in this context Trustly plays an important part, says Lars Blomfeldt, Chief Executive Officer at Northmill.

Direct bank payments are one of the most popular payment methods, and Trustly’s method supports transactions in the vast majority of Swedish banks.

– By creating value for consumers, we create new values and increased competitiveness for companies who offer financial services. Direct payment is a method that is increasing in popularity, and the technological advances that makes it more secure and simplifies identification is driving the development – that’s a new trend that we can see throughout Europe. Northmill shares our ambition to create customer value by simplifying the process for the end user with new fintech-solutions, says Johan Nord, Chief Commercial Officer.

About Northmill
Northmill is a tech-bank with the vision of improving everyone’s financial life. Founded in Stockholm, Sweden in 2006, Northmill develops customer-centric and accessible products that help everyone save money and time. Northmill has 200 000 customers and 145 employees, with over 50 percent working with IT, in three countries. Northmill Bank AB acts under the supervision of Finansinspektionen, the Swedish Financial Supervisory Authority and is subject to the Banking and Financing Business Act (2004:297).

About Trustly
Founded in 2008, Trustly Group AB is a Swedish FinTech company that makes online banking e-payments fast, simple and secure. The company offers cross-border payments to and from consumer bank accounts at over 3,000 banks in 29 European markets and connects businesses and consumers within e-commerce, travel, gaming and financial services. In 2017, the Financial Times ranked Trustly as one of the fastest growing companies in Europe on the FT1000 list and the London Stock Exchange recognised Trustly as one of Europe’s most inspiring, fast-growing companies.

Trustly has 200 employees and is headquartered in Stockholm, Sweden, with regional offices in Spain, Malta, Germany and the UK. Trustly is a licensed Payment Institution under the supervision of the Swedish Financial Supervisory Authority. Read more at www.trustly.com.