Accessing the Nordics

FinTech Market Expansion and Why the Nordics Matter More Than Ever

Expanding into new markets has become a defining ambition for many FinTechs, payment firms, and banks seeking sustainable growth. Yet few regions are as simultaneously attractive and misunderstood as the Nordics. In this episode of FinTech Focus TV, recorded live at FinTech Connect, Toby sits down with Nanna Bergmann, Managing Director and General Manager at Moonrise by Lunar, to explore what it truly takes to enter, operate, and scale successfully across Nordic financial markets.

The conversation immediately establishes that while the Nordics are often grouped together as a single region, the reality is far more complex. Despite cultural similarities, each country operates its own currencies, payment rails, clearing systems, and regulatory nuances. This fragmentation creates significant barriers to entry, but also presents meaningful opportunities for firms that are prepared to invest in the right expertise, infrastructure, and partnerships. For FinTechs and banks considering international expansion, understanding these realities is essential to building a scalable and compliant business model.

From a FinTech recruitment perspective, the discussion highlights how specialist knowledge, local expertise, and operational experience have become critical differentiators. Firms that underestimate the region’s complexity often struggle to build the right teams or hire leaders who truly understand how Nordic markets function in practice.

Payments Infrastructure in the Nordics and the Reality of Market Fragmentation

One of the central themes of the episode is the fragmentation of payment infrastructure across the Nordic region. Nanna explains that while each Nordic country has a relatively small population, they operate distinct payment rails and methods that must be understood individually. This includes instant payments, intraday clearing, and market-specific systems that are not always visible from the outside.

Sweden serves as a powerful example. Often seen as a priority market for FinTechs expanding into the Nordics, it operates a widely adopted mobile payment rail known as Swish. With around 80 percent of the Swedish population using Swish for everyday payments, access to this rail is essential for any firm seeking meaningful market penetration. However, gaining access is not straightforward. It requires not only technical integration, but a deep understanding of how the rail operates, how clearing works, and how regulatory expectations differ from other European markets.

Nanna emphasises that firms relying on partners who claim broad European coverage without genuine local expertise often encounter problems. Without native integrations and an understanding of market-specific clearing processes, businesses may technically be live but operationally constrained. This reality reinforces the importance of working with partners who possess on-the-ground experience and proven operational knowledge across Nordic markets.

For fintech recruitment leaders, this complexity translates directly into hiring needs. Firms entering the Nordics require professionals who understand payment infrastructure, regulatory frameworks, and regional market behaviour, rather than relying solely on generalist European experience.

FinTech Partnerships as a Growth Strategy Rather Than a Transaction

Throughout the episode, the language of partnership emerges as a defining principle in how Moonrise by Lunar operates. Nanna consistently refers to customers as partners, reinforcing the idea that long-term success in the Nordic region depends on shared outcomes rather than transactional relationships.

Unlike consumer markets, where transactions are one-off and impersonal, B2B financial services operate on trust, longevity, and mutual growth. Nanna explains that when Moonrise’s partners grow, Moonrise grows with them. This alignment ensures that reducing friction, accelerating onboarding, and enabling scalability are not just service features, but shared priorities.

This perspective is especially relevant within FinTech recruitment and talent strategy. Businesses that view partnerships transactionally often struggle to retain key talent or build teams that are invested in long-term outcomes. In contrast, firms that embed partnership thinking into their culture tend to attract professionals who value ownership, collaboration, and meaningful impact.

Simplifying Nordic Market Entry Through Technology and Integration

A major challenge for FinTechs entering the Nordics is the operational burden of integrating with multiple markets simultaneously. Each country requires its own technical, regulatory, and operational approach, which can slow down expansion timelines and increase costs.

Nanna explains that Moonrise by Lunar addresses this challenge by consolidating access to the Nordic markets through a single API integration. This approach allows FinTechs and banks to access multiple Nordic markets without building bespoke integrations for each one. While the region lacks a unified equivalent to SEPA, Moonrise’s platform enables firms to achieve similar operational simplicity without sacrificing local nuance.

This simplification does not remove complexity, but it makes it manageable. By abstracting regional differences into a scalable technical framework, Moonrise enables partners to focus on product development, customer acquisition, and growth rather than infrastructure challenges.

From a hiring perspective, this reinforces the growing demand for product leaders, engineers, and platform specialists who understand how to balance scalability with regulatory compliance. As fintech infrastructure becomes more modular and API-driven, the ability to design and maintain resilient systems is increasingly valuable.

Financial Crime Prevention and Faster Onboarding in Nordic Banking

One of the standout insights from the episode is the contrast between traditional bank onboarding timelines and Moonrise’s approach. Nanna notes that while conventional banks may take six months to a year to onboard a new partner, Moonrise is often able to complete onboarding in a matter of weeks.

This acceleration is driven by a highly specialised financial crime prevention team that works exclusively with payment firms, FinTechs, and banks. By focusing on a specific customer profile, the team understands exactly what information is required, how to assess risk efficiently, and how to move partners through the process without unnecessary friction.

This approach highlights a broader trend within financial services. As regulatory expectations continue to rise, firms that invest in specialised compliance and financial crime expertise gain a competitive advantage. For FinTech recruitment, this has led to increased demand for professionals with deep AML, KYC, and risk management experience who can operate at speed without compromising regulatory standards.

Leadership Experience and Building a Scalable FinTech Business

Nanna’s journey to Moonrise by Lunar provides valuable insight into leadership decision-making within fintech. Having previously worked at the Bank of London, she brings experience in building a clearing bank from the ground up. This background gave her confidence in the space and clarity around what strong infrastructure and operational excellence look like in practice.

However, she emphasises that joining Moonrise was not a decision taken lightly. Recognising the significance of the role and the personal investment required, Nanna conducted extensive due diligence before accepting the position. This included meeting board members, founders, and team members in person, as well as speaking directly with customers and partners to understand their experiences.

She also evaluated the underlying technology platform, recognising that polished websites and documentation do not always reflect real-world performance. Speaking with partners who were already live on the platform ultimately reinforced her confidence in the business and its capabilities.

This leadership mindset resonates strongly within FinTech recruitment. Senior hires are increasingly focused on culture, competence, and execution rather than brand alone. Firms seeking to attract experienced leaders must demonstrate substance, transparency, and long-term vision.

Nordic FinTech Culture and the Importance of Team Competence

Another key theme explored in the episode is the role of Nordic culture in shaping how financial services businesses operate. As a Danish professional, Nanna describes feeling culturally aligned with the way Nordic firms approach collaboration, decision-making, and accountability.

She highlights the exceptionally high competence level within the Moonrise team, noting that every function operates with deep expertise and clarity of purpose. This competence is not accidental, but the result of building a team that focuses exclusively on serving FinTech’s, payment firms, and banks entering the Nordic region.

For FinTech recruitment professionals, this reinforces the importance of cultural fit and specialist focus when building teams. High-performing fintech organisations increasingly prioritise depth over breadth, assembling teams that understand their niche intimately rather than relying on generalist approaches.

Scaling FinTech Growth in 2026 and Beyond

Looking ahead, Nanna describes Moonrise by Lunar as entering a new stage of maturity. After validating market demand and refining the product proposition, the business is now focused on standardising solutions in a way that enhances scalability without diluting value.

This standardisation enables faster onboarding, more consistent partner experiences, and accelerated growth. Rather than being restrictive, it allows Moonrise to support a growing number of partners while maintaining the high standards required in regulated financial markets.

For FinTechs planning expansion in 2026 and beyond, this approach offers a compelling blueprint. Growth is no longer about speed alone, but about building repeatable, compliant, and scalable foundations that can support long-term success.

FinTech Recruitment, Talent Strategy, and Sustainable Market Entry

While the episode focuses on payments and market infrastructure, its implications for FinTech recruitment are clear. Expanding into complex regions like the Nordics requires more than capital and technology. It demands experienced leadership, specialist teams, and a deep understanding of local markets.

At Harrington Starr, conversations like this reinforce the importance of hiring talent that understands financial services transformation at both a strategic and operational level. Whether building payments platforms, navigating regulatory complexity, or scaling international operations, the right people remain the most critical factor in fintech success.

This episode of FinTech Focus TV offers a rare, grounded perspective on what it truly takes to access the Nordic markets. By sharing real-world experience rather than abstract theory, Nanna Bergmann provides valuable insight for fintech leaders, hiring managers, and professionals alike.

As fintech continues to evolve globally, regions like the Nordics will remain at the forefront of innovation. For those prepared to invest in the right partnerships, talent, and infrastructure, the opportunities are significant.