Copenhagen Fintech and Reykjavík Fintech today announced the first pilot of Nordic Fintech Lab, a new shared innovation platform designed to connect fintech communities, financial institutions and growth companies across the Nordic region.
The initiative builds upon the success of the ecosystem building experience matured by Copenhagen Fintech throughout its 10 years of existence, a decade of collective effort that has transformed Danish and Nordic fintech from a tech vertical into a core part of local societal infrastructure.
The shared ambition is practical: to create a repeatable model for ecosystem collaboration that can be adapted to other Nordic markets and, over time, connect fintech more strongly across markets.
The initiative is being introduced during Nordic Fintech Week to open dialogue with ecosystem organizations, financial institutions, corporates and public-private partners interested in building stronger pathways for fintech collaboration across the region
The Nordic markets share many characteristics, including advanced digital infrastructure, high levels of trust and sophisticated financial sectors. However, each domestic market is relatively small.
Nordic Fintech Lab is based on the belief that companies will be better positioned to scale internationally if they can approach the Nordic region as one connected innovation environment rather than a collection of separate national ecosystems.
The platform will connect participating companies with local market knowledge, relevant financial institutions and potential commercial partners. Corporate partners will gain access to a broader Nordic pipeline of fintech solutions and opportunities for cross-border innovation.
The initiative will not replace existing national communities. Instead, it will connect and strengthen them by making their networks, capabilities and opportunities more accessible across the region.
“The Nordic countries have produced some of the world’s most innovative financial solutions, but we still tend to support companies primarily within national structures. If we want more Nordic fintech companies to succeed internationally, we need to connect our markets, communities and corporate partners much more closely. To grow and scale the true potential of the Nordic startup scene we need to build pan-nordic programs and governmental industrial support systems. The Icelandic pilot is the next step towards building that shared Nordic platform in fintech with much wider regional and sectoral potential.”
Simon Schou, Chief Innovation Officer, Copenhagen Fintech
Reykjavík Fintech is the first local ecosystem organisation to join Nordic Fintech Lab. It brings together Icelandic startups, established companies, banks and investors and works to strengthen Iceland’s connections with the international fintech community.
Through the pilot, Reykjavík Fintech aims to provide its members with a more competitive offering and improved access to Nordic networks, corporate relationships and international growth opportunities.
The partners will use the pilot to develop the practical structure, services and partnership model for Nordic Fintech Lab before inviting further markets to participate.
“Iceland has a highly innovative fintech community, but access to international networks is essential for companies looking to grow and scale. Through our partnership in the Nordic Fintech Lab, we can strengthen the opportunities available to Icelandic fintech companies while also helping to shape a model that creates value across the Nordic region.”
ÁSGEIR THEODÓR JÓHANNESSON, CEO, Reykjavík Fintech
“After working with the Fintech Cluster in Iceland for almost a decade we realize that taking this to the next level in a partnership with Copenhagen Fintech and the Nordic Fintech Week will be a unique opportunity for us to strengthen our value propositions towards both financial institutions, scaleup and our other Icelandic members.”
GUNNLAUGUR JÓNSSON, Board Chairman, Reykjavík Fintech
Icelandic fintech companies indó and Lucinity are the first confirmed scaleup partners in the pilot.
indó provides simple and transparent digital financial services for consumers in Iceland. Lucinityprovides Human AI solutions for financial crime compliance, helping financial institutions modernise AML investigations, case management and regulatory workflows.
Their participation will help ensure that Nordic Fintech Lab is developed around the practical needs of growth companies seeking new markets, partnerships and international customers.
“For a high tech savings bank in Iceland, international connections are a
prerequisite for growth. Nordic Fintech Lab can help companies build relationships, learn
from neighbouring markets and approach international expansion from a stronger Nordic
position.”
Tryggvi Björn Davíðsson, Co-founder & CEO, indó
“Financial crime compliance is becoming more complex, and scaling across markets requires solutions that combine trusted technology, strong regulatory understanding and practical access to financial institutions. Nordic Fintech Lab can help create the connections that ambitious fintech companies need to bring specialised innovation into new markets and support stronger financial ecosystems across the region.”
Daníel Pálmason, Chief Executive Officer (CEO), Lucinity
Íslandsbanki and Arion Banki are joining the pilot as Nordic Fintech Lab’s first committed corporate partners.
Their participation will help establish direct connections between established financial institutions and emerging fintech companies. The objective is to support dialogue, experimentation and potential commercial collaboration around challenges facing the Nordic financial sector.
“Innovation should strengthen the financial health of customers and create lasting value for Icelandic society. Through Reykjavík Fintech, we can stay close to the needs and strengths of the local ecosystem, while Copenhagen Fintech gives us access to new perspectives, technologies and partnerships from across the Nordics and beyond. Bringing those two dimensions together can help us develop trusted, sustainable solutions that make a meaningful difference for our customers.”
Jón Guðni Ómarsson, CEO of Íslandsbanki
“The best ideas create value when they are tested, connected to the right partners and put into practice. Reykjavík Fintech gives us a strong local arena for backing Icelandic founders and solving real market needs; Copenhagen Fintech opens a gateway to technologies, talent and commercial opportunities across the Nordics and the wider world. Nordic Fintech Lab can turn that combination into faster experimentation, stronger partnerships and new solutions for our customers.”
Björn Björnsson, CIO Arion
The Icelandic pilot partnership can work as a stand-alone partnership, but also signals a broader Nordic or New Nordic ambition. Copenhagen Fintech and Reykjavík Fintech are now inviting innovation organizations, financial institutions, scaleup partners and corporate partners in the other Nordic countries to explore participation in the platform.
Initial discussions with potential partners will take place around Nordic Fintech Week. The experience from the Icelandic pilot will be used to refine a scalable model for future New Nordic partnerships.
“This initiative will strengthen the Danish Icelandic relations in our Nordic Fintech Ecosystem, but it is not intended to be a Danish-Icelandic initiative alone. Iceland is the starting point for this new partnership model, but we will continue to engage with partners across the Nordics and beyond tobuild the next generation of Nordic Fintech together.”
Thomas Krogh Jensen, CEO, Copenhagen Fintech
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