As a bank, Northmill acts under the supervision of Finansinspektionen, the Swedish Financial Supervisory Authority. Northmill is subject to the Banking and Financing Business Act (2004:297) and complies with the rulings of the Swedish Consumer Agency.
Risk management, security and compliance are built into all our processes, and our customers should always feel safe and secure when using our products. This is also the case for digital security, which is and will remain one of our top priorities. We use modern technology to ensure that all customer data are stored in a secure manner.
Northmill is committed to comply with Anti Money Laundering (AML) acts under the EU Directive 2013/0025 (COD). Anti Money Laundering is referring to set of laws, regulations and procedures that intend to prevent criminal actions.
In order to prevent criminality, financial institutions are required to monitor customers' transactions. Our procedures are intended to prevent individuals engaged in money laundering and other financial crimes from using Northmill's products and services.
Northmill is one of the members at Swedish Financial Technology Association, Swefintech. The purpose of the association is to provide a platform for Swedish actors in the field of fintech. Swefintech provides a platform for the fintech community to speak with one voice. Swefintech wants to gather the fintech industry to create impact within the field.
All members of Swefintech work with financial technology and come from the fields of payments, guidance and analytics, lending, crowd funding and trading, investments and asset management as well as advising.