Third customer: a modern alternative to traditional banks

FEB/22nd/18

We have received a signed letter of intent from our third customer. For the time being, we can reveal that they come from a different industry and aim to be a modern alternative to traditional banks - like N26 in Germany, or Monzo in the UK.

Apart from providing them with our consumer lending system Magellan, Näktergal will be assisting in the startup process with advice regarding compliance and technology.

Building competitive advantage through open innovation

FEB/20th/18


"Building competitive advantage through open innovation" is a paper by two students at Stockholm Business School, based on interviews with representatives from Nordea, Näktergal, Zimpler, and Fintech Hub. According to its conclusions, the fintech industry in Stockholm is on the right track.

The Bachelor's Degree thesis paper, written by Felix Andersson and Erik Jonsson Holm, reviews the state of fintech in Stockholm through interviews with Camilla Bäck and Andrea Strand (Nordea), Erik Bennerhult (Näktergal), Johan Strand from (Zimpler), and Matthew Argent and Lana Kaupuza (Fintech Hub).


The paper explores the relationship between competitive advantage and open innovation. It focuses specifically in the fintech sector, since this sector is growing rapidly all over the world.


Some of the conclusions in a short summary: The fintech business is an ecosystem, where competition is an equally important concept as competition. Opportunities are created that companies can benefit from by being open to the ecosystem, collaborate in innovation with other parties, and receive inspiration from other actors. When companies integrate their products and services and build them together, it creates something which is greater than the sum of their parts.


Networking and scanning is an important way to find new partnerships and exchange knowledge, to identify and create new opportunities. Meetings often take place in an ad hoc manner but may, require a formalized structure for this to take place, according to the paper.

Lastly, the paper states that the benefits of openness seem to be greater than the possible disadvantages deriving from the risk of imitation.


Our experience is environments such as fintech hubs provide opportunities for fruitful meetings – thanks to Fintech Hub we formed a partnership with Covr in just about two weeks.


Those who follow us or Erik Bennerhult on social media know collaboration is a topic Näktergal gladly raises. Or, as we put it: Collaboration beats competition.


Research such as that presented in this paper shows that we as an industry are on the right track. We look forward to further collaborative innovations and new partnerships.



Exhibiting at Sweden Demo Day

DEC/12th/17

#SweDemoDay

Näktergal is one of 300 startups exhibiting at Münchenbryggeriet in Stockholm at the event sponsored by organizations such as Tillväxtverket (Swedish Agency for Economic and Regional Growth), Vinnova and Business Sweden.


The event is Sweden’s largest and most spectacular un-conference for startups and investors in the digital realms - and the first 100% community driven and owned event.

Finextra interview: Making room for fintech collaboration

NOV/27th/17


Erik Bennerhult interviewed by Finextra

"All of a sudden, everyone is sharing" our CTO Erik Bennerhult says in the videoarticle titled: Making room for fintech collaboration.


Finextra sums the interview up as: how having access to a fintech hub has helped fintechs interact and improve their business, what regulatory challenges fintechs still face and ways in which they can successfully collaborate with banks in the future.


Erik explains how the business has changed in the last 20 years, how everyone is more open and willing to show their cards instead of holding them close.

Näktergal attends Huge Thing in Poland

OCT/20th/17


Huge Thing, by Alior Bank

Näktergal is attending the intensive acceleration program based in Poland with Huge Thing, Speed Up Venture Capital Group and Alior Bank.


On October 20th we join Huge Thing's Preaccelerator in Warsaw - a weekend of workshops and teambuilding - in the hope that together we will build the next generation consumer lending platform for central Europe.


Alior Bank is one of the most dynamically developing and innovative banks in Poland. As a result of the acquisition of the core business of Bank BPH in November 2016, Alior Bank has advanced to the 9th position in Poland’s banking sector by assets (PLN 62 billion as of the end of September 2016).

Owing to the transaction, Alior Bank has come closer to the attainment of its strategic goal of joining the group of the 5-6 largest banks in Poland.


Roughly 10,000 employees and the third largest banking distribution network in Poland, covering over 1100 branches, ensure efficient service to over 4.3 million clients. Moreover, selected Alior Bank products and services are offered at T-Mobile locations under a strategic partnership, as well as at Tesco stores.


Since 2012, Alior Bank has been listed on the Warsaw Stock Exchange and, in 2014, it joined the WIG20 index for the largest and most liquid companies.

Breakfast seminars in Swedish: Outsourcing in the cloud

SEP/15th/17


Wise IT

Our CTO Erik Bennerhult will be sharing his knowledge and giving advice regarding the safety aspects of cloud-based storage, compared to own server storage.


IT and information safety is hotter than ever. Companies are compelled to ensure they are aware of the safety aspects in turning to the cloud. This seminar is for everyone considering turning to or on already on their way to the cloud.


Both seminars are an hour long and och start at 8:30 in the morning.

Attending Finansinspektionen's fintech discussions

MAY/30th/17

Finansinspektionen, Sweden's financial supervisory authority

We will be joining the discussion with innovative IT-based financial services, products or business models.


The discussion about the legal framework, permits and surveillance of Finansinspektionen on June 19th is a part of a survey of the fintech business, which Finansinspektionen is carrying out on behalf of the Swedish Goverment. Erik Bennerhult, CTO of Näktergal, is attending.

Co-hosting event with Microsoft

MAY/30th/17


Microsoft

The event "Banking in the cloud" is co-hosted with Microsoft.


Date still undecided, we are awaiting answers from the Swedish Financial Supervisory Authority.


To receive an invitation to the event as soon as the date is set, send an email to info@naktergaltech.se

Näktergal represents Sweden at DES2017

FEB/9th/17


Digital Enterprise Show 2017

Näktergal has been chosen by Business Sweden to represent Sweden at Digital Enterprise Show 2017 - DES2017.


DES2017 is the world’s largest event on Digital Transformation and this year Sweden is the official partner country. As stated on the Sweden Country Partner page: "Sweden is the global leader in the race to Digital."

Business Sweden, former Swedish Trade Council (Exportrådet) and Invest Sweden, has chosen Näktergal as a representative of Sweden.


Stay tuned for more details!

Näktergal at DevSum17

JAN/1st/17


DevSum

DevSum17 - "The best .NET conference in Sweden", takes place on the 8th and 9th of June at München­bryggeriet in Stockholm. Näktergal's CTO Erik Bennerhult will be speaking.


At DevSum you will hear about the latest trends and technologies in development in various fields such as .NET, Azure, Aurelia, Xamarin, ASP, IoT and Javascript, from around 60 speakers. This year Näktergal's CTO Erik Bennerhult is one of them and he will be speaking about "Privacy by Design - real-world examples from the fintech industry".


On DevSum's site there is a presentation of Erik which says, among other things: "Erik once launched a Finnish bank from a laptop at Brussels airport."


The full presentation of Erik is avaiable here.

Näktergal at Blast

JAN/1st/17


Blast

Näktergal's CTO Erik Bennerhult is the Keynote speaker of this year's Blast, which takes place in Rome on the 10th to 12th of May.


Blast is "The new international event that gathers and connects companies, startups, investors and technology leaders". Erik Bennerhult, the CTO of Näktergal, will be giving the Keynote speach on "Short-term optimization in a globalizing market".


On Blast's site there is a long interview of Erik Bennerhult where he shares his thoughts on FinTech and banking - and tells the story of why Näktergal was created: "One does not simply change the way one handles all personal data in a system – that usually warrants a complete rewrite. After much frustration, we decided to see this not as a problem but as a business opportunity. Lo and behold, Näktergal was born."

Inspiring the new system name

NOV/29th/16


Magellan, around the globe.

Up until now, we didn’t have a name for our system. We just called it the Näktergal System and our ambition was limited to consumer lending systems in the Nordic region. Then we went to Web Summit in Lisbon and were overwhelmed by the response.

As a result we are looking at complementing our product offering (stay tuned) and now have global dreams.

To emphasize our global ambitions and give recognition to the country that gave birth to our new direction, we name our first system Näktergal Magellan.

In the 16th century, the Portuguese Ferdinand Magellan achieved a nearly complete circumnavigation of the globe for the first time in history.

Since we presented at Web Summit we are connecting with amazing new customers and partners and are on our way to have our system set up around the world.


Magellan – transforming banking around the globe.

Release of our system

NOV/10th/16


After an intense and fun time of building, our system is now released!


From November 10th, less than a year after the founding of Näktergal, Magellan is live with our first client, operating in Finland.

Web Summit 2016

NOV/5th/16


Näktergal presents on Web Summit 2016 - "Europe’s Largest Technology Marketplace".

Näktergal will be attending Web Summit 2016 - ”Europe’s Largest Technology Marketplace" – where Fortune 500 companies, investment companies, mentors and the world’s most exciting startups meet.

Speakers from giants like Cisco, Facebook, MIT, Amazon and Tinder will mix with startups such as Näktergal, Trustly, SEQR and Machinely. This is a venue where companies like Uber have found funding, TPG have found investments, McKinsey have been giving advice and Bono has been drinking beer. All covered by over 2 000 reporters from the world's most influential publications, from Wall Street Journal to Bloomberg.

We are honored to be an Alpha Fintech Startup and invited to present ourselves to over 50 000 visitors, investors, entrepreneurs, potential clients, partners and press.