Nordea picks Divido for point-of-purchase lending
Written by Peter Walker
Nordea Finance will license Divido’s white-label platform to deliver point-of-purchase finance to retail merchants.
The Nordic bank will leverage the technology under its own brand and immediately roll-out the platform across key markets, beginning in Norway, followed by Finland, Sweden and Denmark.
The company admitted that building a new lending platform in-house to replace current legacy systems, servicing multiple markets wasn’t a practical option. By using Divido’s omnichannel solution, Nordea Finance stated it will have the ability to provide point-of-purchase finance in multiple currencies across multiple markets.
“By licensing Divido, Nordea Finance will have access to technology that enables it to differentiate its product proposition and offer new credit products at the point-of-purchase,” added Christer Holloman, chief executive and co-founder of Divido.