Credit and Lending Innovation: Nordic Strategies for a New Era

The Nordic credit and lending market is undergoing rapid change. Technology, customer expectations, and regulation are pushing banks and fintechs to rethink how capital is accessed, assessed, and delivered. From embedded lending in retail and platform ecosystems to adaptive credit risk models, a new competitive landscape is taking shape.

These innovations are moving from niche experiments into the mainstream, forcing lenders to balance agility with trust, speed with resilience, and innovation with risk 

discipline.

Embedded Lending Moves Mainstream

One of the clearest growth stories comes from embedded finance — integrating lending directly into the customer journey. InBank’s model is a case in point. By partnering with retailers, the bank offers financing at the point of purchase, removing friction and capturing market share from traditional players.

“If a customer goes to e-commerce to buy a car, solar panels, or shoes, they are at a retailer. We integrate our financing solution into that journey,” explained Priit Põldoja of InBank. This approach has helped the Estonian lender grow from a modest market share in 2016 to becoming the second-largest in its home market, just behind Swedbank.

Platform companies are also entering the lending space. Wolt Capital, part of Finnish food delivery and payments company Wolt, provides merchant cash advances based on sales data. Pre-approved offers can be accepted with a click, and repayments are automatically deducted from payouts. This blend of data-driven underwriting and seamless delivery is setting new expectations for speed and simplicity in SME finance.

Closing the SME Lending Gap

Small and medium-sized enterprises remain underserved, particularly in the 

€20,000–€200,000 financing range. Slow processes, complex documentation, and rigid products often push SMEs toward alternative providers.

Research presented at the Nordic Fintech Summit in Helsinki revealed that for SMEs, speed is the top factor when choosing a financing partner, followed by simplicity and transparency. Price ranks only fifth.

By focusing on faster decision-making, streamlined onboarding, and clear terms, lenders can capture a segment that is both substantial and loyal. The rise of From Insight to Action

The leading themes in Nordic credit and lending — embedded finance, SME focus, data-driven models, adaptive risk management, and cross-sector collaboration — are shaping a more integrated, agile lending ecosystem.

The institutions that will succeed are those combining analytics with a deep understanding of customer needs, embracing partnerships to extend reach, and adapting quickly to regulatory and market changes.

These are only a fraction of the insights gathered at the recent Nordic Fintech Summit in Helsinki and captured in the Strategic Outlook: Nordic Fintech 2025. The full report explores not only credit and lending but also payments, security, sustainability, and emerging technologies shaping financial services.

For those looking to anticipate change rather than react to it, the Outlook offers a detailed, actionable perspective on the future of Nordic finance.

Finance X readers can access the full Strategic Outlook here.