Northmill's history

Northmill has had tremendous growth since the start of the company in 2006 and we continue to believe in the power of technology to constantly innovate and improve. Over time we have offered our services to more than 200,000 customers, expanded internationally and grown into a team of 125 people in currently three countries – Sweden, Finland and Poland.

Technology in our DNA

We believe that people spend too much time on their personal finances and pay too much for everyday banking services. We therefore asked ourselves how we could bring value to regular people. The answer was through innovation, based on new technology. We believe technology can do the work for us, and since day one, we have automated every single process that is possible to automate. This has allowed us to deliver tailored, accessible and easy-to-use products since day one. 

Challenge the status quo

We adopted the most recent technology at an early stage, which allowed us to simplify financial services in a way that was previously unheard of. We embraced digitalization and were among the first to let customers submit loan applications on their mobile phones or identify and register using electronic ID. We achieved this at a time when smartphones had not yet been launched on the market. 

We have a strong challenger culture. One example of this is our very own data science team, which is exploring opportunities in an R&D-friendly environment. We basically told them to experiment with new, cutting-edge technologies and challenge current truths so that we can continue to deliver the very best customer experience and products.

Balancing innovation and regulation

Northmill is subject to the Banking and Financing Business Act (2004:297). We have always prioritized and strived for the highest quality in all services, ranging from compliance to how we communicate with our customers. We believe the increased regulation and supervision of the financial market is positive, as it leads to increased consumer protection and transparency.

Northmill was born and raised on innovation, and we are living proof that it is possible to balance strong innovation and heavy regulation. And after thirteen years, we can safely say that we have risk management and compliance carved into all our processes and have found the golden balance that allows us to deliver the products and services demanded by today’s customers. 

A new way of thinking

The powerful combination of experience, innovation and relentlessness allows us to develop financial services for everyone. And as we are not hampered by legacy IT or heavy administration, we can move very fast from idea to implemented product or feature. Coupled with our data-driven mindset, this technological advantage gives us the opportunity to unleash our creativity and build a new type of bank, solely by focusing on adding value for our customers. 

Expansion to fuel growth

We are just at the beginning of our quest to simplify everyone’s financial life. We are currently active in three markets, but we have an ambitious expansion plan and will continue our journey; in coming years, we will offer our accessible and customer-centric products in many European markets. 

A digital mobile bank – built in the cloud

On September 11, 2019, Northmill was granted a license to conduct banking operations by Finansinspektionen, the Swedish Financial Supervisory Authority. This meant a new chapter in Northmill’s story – and Europe’s newest tech bank was born.

As we are now able to operate as a bank, we are well equipped to take the next step and drive true positive change for our users. The banking license comes with great responsibility, but it also gives us an exciting opportunity to use our technology-driven business and our product-oriented organization to build a new modern and customer-centric bank.

The beginning of endless opportunities

We are building a cloud-based and mobile-first bank. This unlocks an endless amount of opportunities. In one way it feels like we are reborn, armed with the best talents in the market, the right tools and a relentless mindset to help everyone save time and money in the most seamless and simple way possible. And with products like Rebilla Reduce, which helps consumers reduce the interest rate on existing credit, we are unleashing new exciting ways for everyone to save time and money. 

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