Norwegian Banking Group Eika Makes Major Investment in EedenBull

The Eika Group buys into the FinTech company EedenBull – a forward looking provider of new, innovative payment solutions.

New technologies, new regulations and new suppliers are forever changing the way individuals and businesses think about payment. With this investment, Eika secures a strategic position in one of the most exciting areas of digital and user-friendly card and payment solutions. The agreement gives Eika’s member banks access to EedenBull’s existing and future solutions and thereby increased competitiveness in the payments market..

EedenBull was founded in 2018 by a team of payments experts from around the world. The company has already been recognized as a very attractive partner for banks in Europe and beyond and is now launching its new and innovative payments and spend management programme through more than 65 banks in the Nordic region. EedenBull has since launching the platform less than 8 weeks ago onboarded more than 9,000 businesses and are onboarding a new customer every 4 minutes.

The new service and platform from EedenBull provides businesses and not-for-profit organizations of all sizes with simplicity and control of all purchases employees are making on behalf of the company. In addition to payment cards, the solution also includes a web-based management module for the company administrator and a mobile app for the employee. Integration with accounting systems, simplification of VAT refunds, and payment by card also where the supplier does not accept cards, digitization of receipts and ensuring that employees only buy the right products and services from the right suppliers are also included in the solution EedenBull has named Q Business and made available to select banks and customers.

EedenBull has a license as an e-money institution (EMI) under EU legislation. With a design & innovation team in Singapore, systems development and operations in Edinburgh as well as sales and administration in Oslo, the company is well positioned for international expansion and growth. The company is already in dialogue with some further 20 banks in the Nordic countries as well as banks in the UK, the Netherlands, Singapore, New Zealand and Australia.

Says CEO Terje Gromholt of Eika Kredittbank – ‘To us, it is important to create partnerships with players who possess specialist expertise in their areas, as the collaboration with EedenBull is an example of. This investment is strategically important to the Eika Group and our member banks for us to strengthen and secure our ability to compete effectively in the complex world of payments going forward.’

‘The investment made by Eika and the partnership that follows is a testament to our ability to provide significant value to banks and their customers through combining our expertise and experience with payments with access to and utilization of new technologies. We are excited about the opportunity we have to not only embrace change in the way consumers and businesses think about payments, but continue to take a leading role in setting the agenda and driving change’ – EedenBull CEO Nicki Bisgaard said in a comment.

About EedenBull

Established in 2018, EedenBull aims to provide new, exciting payment and spend management solutions that makes life simpler and more transparent for individuals and businesses. The company delivers its solutions through banks and other partners that will strengthen their competitiveness in an increasingly challenging market. With offices in Singapore, Oslo and Edinburgh, EedenBull has aggressive international growth projections.

About the Eika Banking Group

The Eika Group is owned by the more than 60 member banks and forms the financial group of the Eika Alliance. The Eika Group’s foremost vision is to strengthen the member bank. The company provides secure and user-friendly services, especially tailored to customer needs. The business includes banking, insurance, savings, pension, financing, cards and real estate. The Eika Alliance is one of the largest players in the Norwegian financial market and a major player for sustainable value creation in local communities across the country. The alliance has one million customers, over 3,000 employees, 200 local bank offices and a total assets of more than 440 billion. www.eika.no

EedenBull opens tech hub in Scotland

During the Scottish Fintech Festival, EedenBull opened the Technology and Customer Support Hub in Edinburgh. The presence in Scotland allows us to centralise our tech development and offer unparalleled customer support to our partner banks and end customers.

We believe the strong FinTech community and great talent pool in Scotland will help us deliver unique products and services to the global market. The creation of the tech hub has been made possible with the help of a Regional Selective Assistance (RSA) grant from Enterprise Scotland.

The launch has received strong media attention. Read all about our launch here:

The Scotsman: “Norwegian firm plugs into Scotland’s burgeoning fintech sector”

Scottish Financial News: “Norwegian fintech firm sets up in Edinburgh after securing six-figure grant

Enterprise Scotland: “Norwegian Firm Latest Company Attracted to Fintech Scotland Ecosystem with Scottish Enterprise Support

Digit: “Norwegian Fintech EedenBull Launches Edinburgh Technology Hub

The Herald Scotland: “Fintech company sets up hub in Edinburgh

EedenBull og Sparebanken Sør inngår samarbeid

Sparebanken Sør inngår samarbeidsavtale med fintech-selskapet EedenBull og lanserer Q Business Black – kredittkort med bedriftsansvar 21. august 2019.

Sparebanken Sør har inngått en langsiktig partneravtale med fintech-selskapet EedenBull for utvikling og levering av nye innovative betalingsløsninger for Sparebanken Sør sine kunder. Avtalen er inngått i 2019 og har en varighet på fem år.

Avtalen innebærer at EedenBull leverer sin Q Business® plattform til Sparebanken Sør sine kunder, der bedrifter, lag og foreninger får et brukervennlig system for å håndtere utlegg, betaling, regnskapsføring og rapportering. Det betyr at bedriftsledere kan utstyre alle sine ansatte med betalingskort, og samtidig ha full kontroll over utgiftene. På den måten kan bedriften redusere kostnader og tid brukt på administrasjon, få sanntids-oversikt over selskapets utgifter og samtidig unngå at de ansatte må gjøre personlige utlegg på bedriftens vegne.

Sparebanken Sør og EedenBull lanserer plattformen i flere faser utover 2019.  Første fase er Q Business Black – kredittkort med bedriftsansvar. Plattformen er bygget på sky-teknologi, og integrerer mot eksterne informasjonsleverandører i hele verdikjeden, slik som transaksjonsprosessorer og regnskapssystemer gjennom omfattende bruk av APIer (Application Programming Interface). Fremover vil Q Business® inkludere en rekke tilleggstjenester som gir bedriftene enda mer kontroll og besparelser.

«Vi har i Sparebanken Sør en betydelig kundegruppe innenfor små og mellomstore bedrifter, foreninger og lag. En felles utfordring de fleste av våre kunder har er at det brukes mye tid og arbeid på å administrere betalinger og utgifter, og vi har et mål om å tilby våre kunder løsninger som ligger helt i forkant i markedet. Gjennom samarbeidet med EedenBull, som besitter en dyp forståelse av betalingsløsninger samtidig som de har en kundeorientert tilnærming til produktutvikling, vil vi kunne tilby våre kunder Q Business® – et system som vil forenkle arbeidet og samtidig gi mer kontroll» sier Lars Pedersen i Sparebanken Sør.

«Vi har fokus på to behov i markedet, vi ønsker å gi små og mellomstore bedrifter, foreninger og lag en enklere hverdag og mer kontroll over utgiftene. Vi har snakket med en rekke bedrifter for å finne ut hvor skoen trykker, og er sikre på at vi er i ferd med å levere en plattform som setter en ny standard for håndtering av utlegg.

Sparebanken Sør er en perfekt partner for EedenBull. Banken har en kundefokusert og gjennomtenkt holdning til innovasjon og nye løsninger, og er Sørlandets sterkeste regionbank. Vi gleder oss til å samarbeide tett med Sparebanken Sør for å få gode løsninger ut til sluttkundene.» sier CEO og gründer Nicki Bull Bisgaard i EedenBull.

EedenBull AS ble etablert i 2018 med sikte på å levere nye, innovative betalingsløsninger til forbrukere, bedrifter og organisasjoner i hele verden. Selskapet satser på å samarbeide med banker globalt, for å utnytte nye teknologier som gjør det enklere, sikrere og billigere å betale og ta betalt. EedenBull AS er registrert i Norge med hovedkontor på Billingstad utenfor Oslo, og er representert i London, Dubai og Singapore. De fem gründerne har lang erfaring fra betaling, bank og digitale plattformer, og har kommet sammen for å levere en fintech-satsning som er like mye «fin» som «tech». Selskapet har en rekke spennende lanseringer i de kommende månedene og årene, og satser på å dekke et globalt marked i løpet av noen få år.

www.eedenbull.com

Ytterligere informasjon:

Sparebanken Sør:

Lars Pedersen – lars.pedersen@sor.no

Mobil: +4748030647

EedenBull:

Jens Nes – jens@eedenbull.com       

Mobil: +4790099901

Norwegian Leading Banking Group Eika Partners With New FinTech EedenBull


The Norwegian banking alliance Eika Group has entered into a long-term partnership with the new fintech EedenBull to develop and launch new innovative payment programmes for the 66 participating banks. The partnership agreement was recently signed in Oslo and is a testament to the mutual commitment to create better, simpler and more secure payment experiences for consumers and businesses alike.

In the first instance, the contract will see EedenBull delivering a bespoke version of EedenBull’s Q Business® programme to the Eika banks and their customers, where businesses get a user-friendly system for the automation of payments, spend management, accounting and control. That means business leaders can ensure consolidation of payments onto one single platform, monitor and improve cashflow, automate accounting processes whilst significantly improve spend control across the business. The platform is built on cloud technology, and integrates with external information providers throughout the value chain, such as transaction processors and accounting systems through extensive use of APIs (Application Programming Interface).

Eika and EedenBull will be launching the new and innovative programme in multiple stages through the participating banks over the coming months.

“Eika is a Norwegian nationwide banking alliance consisting of local banks with a number of small and midsized commercial banking customers. The local banks in Eika has some of the highest customer satisfaction scores in the market. The local banks have seen a growing demand for practical payment solutions from these customers, and now we will be able to offer something that is not only competitive but at the forefront of the market. We know that payments and spend management are among the biggest challenges businesses have, and we are happy to provide them with a system that simplifies this work – whilst providing business managers and owners more control. We chose to cooperate with EedenBull because they possess a unique combination of deep understanding of payment solutions and a customer-oriented approach to product development. We have known several of the co-founders for a long time, and work closely with EedenBull to deliver the best service in the market, ”says CEO of Eika Kredittbank AS, Terje Gromholt.

“Eika is the perfect partner for EedenBull. With a customer centric and conscious approach to innovation and new solutions, and a network that covers all of Norway, it gives us a good platform to distribute innovative payment solutions in the market. We have talked to a great number of business owners around the world to find out what keeps them awake at night, and are confident that we are about to deliver a platform that sets a new standard for handling payments and expenses. We have focused on actual needs in the market, and are totally committed to simply making business life simpler” says CEO and founder Nicki Bull Bisgaard in EedenBull.

This is the Eika Group and the Eika Alliance The Eika Alliance consists of 66 local banks, Eika Gruppen AS and Eika Boligkreditt AS. The local banks in the Eika Alliance have among Norway’s highest customer satisfaction for both personal customers and businesses, and are a driving force for growth and development for their local communities. Offering close and personal customer advice and continued local presence where the customers are, separates these local banks from the competition. The Eika Group is owned by the local banks and constitutes the financial grouping in the Eika Alliance. The Eika Group’s vision is “We strengthen the local banks”. The Group delivers end-to-end customer solutions within banking, insurance, savings, pensions, financing, cards and real estate brokerage to the local banks. The Eika Alliance is one of the largest players in the Norwegian financial market and the most important financial pillar for many Norwegian communities. The Alliance has one million customers, 3,000 employees, 250 offices and a total assets of over 440 billion NOK. www.eika.no

EedenBull AS was established in 2018 with the aim of delivering new, innovative payment solutions to consumers, companies and organisations worldwide. The company is committed to collaborating with banks globally to leverage new technologies that make it easier, safer, and cheaper to pay and get paid. EedenBull AS is registered in Norway with head office outside Oslo, and is represented in London, Dubai and Singapore. The management team have extensive experience in payments, banking and digital platforms, and have come together to deliver a fintech venture that is as much “fin” as “tech”. The company has a number of exciting launches planned in the coming months. www.eedenbull.com

Further information:

Eika:

Terje Gromholt – tgr@eika.no

EedenBull:

Nicki Bisgaard – nicki@eedenbull.com

Erik Ingvoldstad – erik@eedenbull.com

Photograph shows Eika Kredittbank CEO Terje Gromholt (left) and Eedenbull CEO Nicki Bisgaard (right).

Eika inngår samarbeidsavtale med fintech-selskapet EedenBull

Eika Gruppen har inngått en langsiktig partneravtale med det ferske fintech-selskapet EedenBull for utvikling og levering av nye innovative betalingsløsninger for de 66 bankene i Eika Alliansen og deres kunder. Avtalen er inngått i mars 2019 og har i utgangspunktet en varighet på syv år.

I første omgang innebærer avtalen at EedenBull leverer en versjon av sin Q Business® plattform til Eika-bankenes kunder, der bedrifter får et brukervennlig system for å håndtere utlegg, betaling, regnskapsføring og rapportering. Det betyr at bedriftsledere kan utstyre alle sine ansatte med betalingskort, og samtidig ha full kontroll over utgiftene. På den måten kan bedriften redusere kostnader og tid brukt på administrasjon, få sanntids-oversikt over selskapets utgifter og samtidig unngå at de ansatte må gjøre personlige utlegg på bedriftens vegne. Tjenesten skal markedsføres under Eikas og lokalbankenes navn.

Eika og EedenBull lanserer plattformen i flere faser utover 2019. Plattformen er bygget på sky-teknologi, og integrerer mot eksterne informasjonsleverandører i hele verdikjeden, slik som transaksjonsprosessorer og regnskapssystemer gjennom omfattende bruk av APIer (Application Programming Interface). Fremover vil Q Business inkludere en rekke tilleggstjenester som gir bedriftene enda mer kontroll og besparelser.

«Eika er en landsomfattende bankallianse av lokalbanker med et stort antall små og mellomstore bedriftskunder. Lokalbankene i Eika har blant landets høyeste kundetifredshet i dette markedet. Lokalbankene har hatt betydelig etterspørsel etter praktiske betalingsløsninger fra disse kundene, og nå vil vi kunne tilby dem noe som ikke bare er konkurransedyktig, men som ligger i forkant av resten av markedet. Vi vet at betalinger og utgiftsadministrasjon er blant de største utfordringene bedrifter har, og vi er glade for å kunne gi dem et system som forenkler dette arbeidet – og samtidig gir bedriftsledere og eiere mer kontroll. Vi valgte å samarbeide med EedenBull fordi de besitter en unik kombinasjon av dyp forståelse av betalingsløsninger og en særdeles kundeorientert tilnærming til produktutvikling. Vi kjenner flere av gründerne gjennom lang tid, og jobber tett sammen med EedenBull for å levere den beste tjenesten i markedet.» sier Administrerende Direktør i Eika Kredittbank AS, Terje Gromholt

«Eika er en perfekt partner for EedenBull. Med en kundefokusert og gjennomtenkt holdning til innovasjon og nye løsninger, og et nettverk som dekker hele Norge, gir det oss en god plattform til å distribuere innovative betalingsløsninger i markedet. Vi har snakket med en rekke bedrifter i hele landet for å finne ut hvor skoen trykker, og er sikre på at vi er i ferd med å levere en plattform som setter en ny standard for håndtering av reiser og utlegg. Vi har hele tiden hatt fokus på faktiske behov i markedet, og har egentlig bare to mål vi ønsker å levere på med Q Business – at vi gir bedriftene en enklere hverdag og gir dem mer kontroll over utgiftene.» sier CEO og gründer Nicki Bull Bisgaard i EedenBull.

Dette er Eika Gruppen og Eika Alliansen Eika Alliansen består av 66 lokalbanker, Eika Gruppen AS og Eika Boligkreditt AS. Lokalbankene i Eika Alliansen har blant Norges høyeste kundetilfredshet både for personkunder og bedrifter og er en drivkraft for vekst og utvikling for sine lokalsamfunn. Nær og personlig kunderådgiving og fortsatt lokal tilstedeværelse der kundene er skiller lokalbankene fra konkurrentene. Eika Gruppen er eid av lokalbankene og utgjør finanskonsernet i Eika Alliansen. Eika Gruppens visjon er «Vi styrker lokalbanken». Konsernet leverer komplette kundeløsninger innen bank, forsikring, sparing, pensjon, finansiering, kort og eiendomsmegling til lokalbankene. Eika Alliansen er en av de største aktørene i det norske finansmarkedet og den viktigste aktøren for mange norske lokalsamfunn. Alliansen har en million kunder, 3000 medarbeidere, 250 kontorer og en samlet forvaltningskapital på over 440 milliarder. www.eika.no

EedenBull AS ble etablert i 2018 med sikte på å levere nye, innovative betalingsløsninger til forbrukere, bedrifter og organisasjoner i hele verden. Selskapet satser på å samarbeide med banker globalt, for å utnytte nye teknologier som gjør det enklere, sikrere og billigere å betale og ta betalt. EedenBull AS er registrert i Norge med hovedkontor på Billingstad utenfor Oslo, og er representert i London, Dubai og Singapore. De fem gründerne har lang erfaring fra betaling, bank og digitale plattformer, og har kommet sammen for å levere en fintech-satsning som er like mye «fin» som «tech». Selskapet har en rekke spennende lanseringer i de kommende månedene og årene, og satser på å dekke et globalt marked i løpet av noen få år. www.eedenbull.com

Ytterligere informasjon:

Eika:

Terje Gromholt – tgr@eika.no

EedenBull:

Nicki Bisgaard – nicki@eedenbull.com

Erik Ingvoldstad – erik@eedenbull.com

Foto: Eika Kredittbank CEO Terje Gromholt (til venstre) and EedenBull CEO Nicki Bisgaard (til høyre).

Visa’s Country Manager in Norway joins the new fintech EedenBull

EedenBull AS, a new Fintech company providing new and innovative payment programmes to small and medium sized banks and their customers, announced today that Jens Nes has been appointed Head of Business Development – Nordics & Baltics.

Mr Nes has enjoyed a long and distinguished career in the payments industry in the Nordic region, having held management positions as Vice President – Head of Sales and Marketing at Teller, Senior Vice President – Head of Issuing Services, Senior Vice President – Head of Acquiring and Senior Vice President – Head of Sales & Marketing at Nets before joining Visa as Country Manager for Norway in 2015.

‘We are all about payments and to us, customer centricity is key. Our mission is therefore to challenge the existing, aggressively look for weaknesses, seek to improve and change the way people and businesses pay and get paid – any time, anywhere’ says Nicki Bisgaard, CEO of EedenBull AS. ’The demand for our solutions has exploded and we are really pleased to be able to welcome Jens to our team of payments experts and support our growth in this space. Jens will be based in Oslo and London and support our clients and partners around the world, with a specific focus on the tech savvy Nordic markets’.

Says Jens Nes: ‘The payments landscape is changing dramatically as consumers and businesses change the way they think about payments. I know EedenBull is looking to drive change and leverage the vast untapped opportunities that emerge from new technologies and new regulations facing the financial services industry. EedenBull is on a mission to partner with banks to secure customer satisfaction and lasting competitive advantages going forward. I am excited about the prospect of being a part of this incredibly competent team’

About EedenBull AS:

EedenBull provides new and unique payment programmes based on our experience in payments from all around the world and the opportunities posed by of new technologies and new regulatory frameworks.

Unlike many ‘disruptors’ and new ‘FinTech’ companies, we at EedenBull are payments specialists and understand how payment systems work and how best to leverage new technologies to vastly improve how people and businesses pay and get paid.

EedenBull AS is registered in Norway and will be licensed and regulated as a Payment Institution (Betalingsforetak) under EU legislation, therefore licensed to operate as such across the European Economic Area (EEA). The business is headquartered in Oslo, with representation in London, Dubai and Singapore.