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
Terje Gromholt – firstname.lastname@example.org
Nicki Bisgaard – email@example.com
Erik Ingvoldstad – firstname.lastname@example.org
Photograph shows Eika Kredittbank CEO Terje Gromholt (left) and Eedenbull CEO Nicki Bisgaard (right).