“Can a lean digital consumer credit bank scale across six European markets by embedding open banking data into credit decisioning while operating under a consolidated Nordic BaaS parent?”
Founded in 2007 as a pure-play Nordic consumer lender, Bank Norwegian built a lean, digital-first model offering credit cards, unsecured loans, and savings deposits across Norway, Sweden, Denmark, and Finland. Following acquisition by Nordax Bank AB (now NOBA Bank Group AB) in Q4 2021, the bank was merged into a broader Nordic consumer credit group operating under two brands. Expansion into Spain and Germany in 2021 necessitated scalable, cross-border credit decisioning, driving adoption of open banking income verification via Tink. The bank also operates as a PSD2-compliant ASPSP (Account Servicing Payment Service Provider), exposing its own open banking APIs to third-party TPPs.
Bank Norwegian discloses NOBA Bank Group AB (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Bank Norwegian does not disclose a bank charter of its own; its banking services are provided through NOBA Bank Group AB (in-house).
Bank Norwegian connects to bank accounts through Tink.
The Embedded Finance Index 2026 maps 3 layers in Bank Norwegian's stack: Banking / BaaS (NOBA Bank Group AB (in-house)); Lending (Unsecured instalment loan, Consumer loan (samlelån / refinancing) and Credit card credit line); Open banking (Tink).
Bank Norwegian is founded in 2007 and headquartered in Fornebu, Norway.
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