Enfuce launches Saldo Bank’s first payment card products, fuelling its rapid growth strategy

This announcement underscores Enfuce’s commitment to supporting both digital and legacy banks across Europe, including clients such as Kvika Bank, Alisa Bank, Memo Bank, and Indo Bank, in quickly adapting to the ever-changing payment landscape. By providing cutting-edge, scalable, and modular solutions tailored to each client's specific needs, Enfuce empowers banks to reduce implementation costs and focus on business growth and revenue generation.

Through this partnership, Saldo Bank has expanded its operations into payment services, with a new VISA credit card programme. Known for its advanced and real-time onboarding and credit scoring, Saldo Bank has incorporated these innovative features into the new credit card. Saldo Bank's credit decisions are made in real time, allowing for fully automated card issuance.

Enfuce is delivering over 60,000 custom-built open-loop Visa credit and debit cards, physical and virtual, and tokenised, offering Saldo Bank’s growing Finnish customer base a new streamlined way to use credit directly on card payments. These new cards enable Saldo Bank’s customers, including those using revolving credit and new applicants needing a credit line, to easily manage their finances in one place, eliminating the need for fund transfers between institutions.

Since the market launch in July, Saldo Bank and Enfuce have consistently introduced new features to ensure Saldo Bank’s customers enjoy the most advanced, flexible, and seamless payment experience available. Most recently, in August, Saldo Bank announced its first partnership-powered card with the Finnish ice hockey club Jokerit, which offers sport fans access to a tailored benefit programme.

As Enfuce continues to expand its presence across Europe, this partnership not only reinforces its commitment to solidifying its footprint in the Nordic region but also to empowering Nordic companies to grow and reach their full potential.

Monika Liikamaa, Co-founder & Co-CEO of Enfuce, says: “Saldo Bank has been at the forefront of banking innovation in our region, and we are thrilled to join forces with them to launch customised, scalable, and groundbreaking payment card solutions. The new cards will dramatically enhance the credit access experience for Saldo Bank's customers, strengthening its commitment to innovative and responsible lending practices, and boosting customer acquisition and engagement.”

Denise Johansson, Co-Founder & Co-CEO of Enfuce, says: "Our partnership with Saldo Bank underscores our joint commitment to spearhead innovation in banking and create cutting-edge, user-friendly and efficient solutions for our customers. While at Enfuce we are accelerating our international expansion beyond the Nordic region, we’re excited to be joining forces with a fellow Nordic company and helping them bring their innovation and ambition to life.” 

Jarkko Mäensivu, CEO of Saldo Bank comments: “Launching a credit card programme and bringing payment services into Saldo Bank's offering supports our growth strategy by expanding the product range and serving an ever-wider customer base. We chose Enfuce as our payment partner to enable this strategic step because, as a neobank, it is crucial for us to build on the most recent technologies and establish strategic collaborations with like-minded innovators who have proven experience in co-creating tailored and innovative solutions that can meet our customers' evolving needs. Enfuce's partnership allowed us not only to launch an innovative card programme but also to create a new partnership offering. Additionally, we did not need to invest time and resources in building an in-house solution for processing.”

About Enfuce

Founded in 2016, Enfuce is a female-founded and led company with a unique vision: to bring the brightest minds and the best technology together to break down the barriers to prosperity. As a leading global card issuer and payment processor that merges innovation, security, and expertise to create modular, cloud-based payment processing capabilities, Enfuce is one of Finland’s most valuable scaleups, and is the first financial service provider in the world to be PCI-DSS certified while running its service in the public cloud. By focusing on collaboration, Enfuce is able to efficiently provide customers with cutting edge features - offering in-house experts and white labelled technology to help companies create scalable payment solutions with ease. Supporting debit, credit, prepaid, gift, fleet and fuel card programmes in any form - for consumer, commercial and B2B applications - Enfuce’s no-nonsense approach helps customers create bespoke payment solutions that are flexible, scalable and secure. 

Holding an Electronic Money Institution (EMI) licence from the Finnish FSA and from the UK’s Financial Conduct Authority (FCA), enabling operations across Europe and the UK, Enfuce's PCI-DSS certified platform guarantees 99.999% uptime, global scalability, and card scheme connectivity, supporting various card programmes and integration with digital wallets. Enfuce has raised €68.5 million in funding rounds, showcasing its industry leadership with recognitions like Visa Fintech Fast Track and Mastercard Lighthouse Development Program participation, as well as winning prestigious awards, such as the 2019 PayTech Award for Best Payments Solution, 2022 FF Award for Mobile Payments and the 2023 FF Award for Authentic ESG. Propelled by the forward-looking vision of its Co-CEOs and Nordic ingenuity, Enfuce is set to expand globally, shaping the future of payment solutions.

About Saldo Bank

Saldo Bank UAB is a specialised bank licensed by the European Central Bank and regulated by the Bank of Lithuania. Saldo Bank UAB Suomen sivuliike operates in Finland, offering consumers fully automated loan solutions and deposit services. The company's advanced scoring system ensures responsible lending, and its own lending system supports business growth also internationally. At the end of 2023, more than 50 people worked at Saldo Bank. https://www.saldo.com/