Landsbankinn
“Can Iceland's largest bank become the country's all-in-one financial platform by layering acquiring, insurance, open banking APIs, and spend management onto its dominant retail and corporate banking position?”
Founded in 2008 as the state-created successor to collapsed Landsbanki, Landsbankinn grew into Iceland's largest bank (~39% retail, ~34% corporate market share). Over 2021–2023 it modernised its digital infrastructure, launching PSD2-compliant open banking APIs and its own merchant acquiring service — signalling a push toward becoming a one-stop financial platform. The 2025 acquisition of insurer TM tryggingar and the subsequent launch of embedded insurance through the bank app represent its most recent strategic expansion beyond core banking into embedded insurance.