Northmill integrates with SEPA: allowing seamless euro transactions
Northmill integrates with SEPA, enabling fast, secure and seamless euro transactions for consumers and businesses across 41 European countries.
Press Release, May 27, 2026
Northmill Bank, a leading Nordic digital challenger bank, today announces its successful integration with the Single Euro Payments Area (SEPA). This milestone enables the bank to provide its consumer and business clients with seamless, high-speed euro transactions, offering the same efficiency, security, and cost-structure as domestic payments across 41 European countries.
This expansion into the European payment landscape is a natural next step for Northmill, following its established role as an active participant in the Swedish payment infrastructure, including Bankgiro, Swish, and RIX-INST. By leveraging its proven expertise in domestic real-time payments, Northmill is now scaling its capabilities to the wider European market.
"Integrating with SEPA is an important step in our mission to improve people’s financial lives. By reducing the friction traditionally associated with cross-border payments, we are making it easier for both consumers and businesses to move money across Europe with the same simplicity as a domestic transfer,” says Julie Chatterjee, CEO of Northmill Bank.
SEPA is a harmonised European payment framework that enables fast, secure and efficient euro payments across participating countries. More than 500 million people across the SEPA area benefit from standardised electronic payments for everyday and cross-border transactions.
By connecting to the eurosystem infrastructure via Bank of Finland and SEPA clearing and settlement systems such as STEP2 and RT1, Northmill now operates as a direct participant in the European payments ecosystem. The bank has implemented three core schemes governed by the European Payments Council (EPC):
SCT (SEPA Credit Transfer): Enabling efficient, high-volume batch processing of Euro payments.
SCT Inst (SEPA Instant Credit Transfer): Facilitating real-time, 24/7/365 payments that settle in seconds.
VOP (Verification of Payee): Ensuring enhanced security and fraud prevention by verifying recipient details before a transaction is finalized, in full compliance with the new Instant Payment Regulation (IPR).
Contacts:
Press: Frida Almgren, PR, press@northmill.se, + 46 76 - 19 98 300
About Northmill Bank
Northmill Bank is a Nordic digital challenger bank with the vision of improving people’s financial lives. With a full Swedish banking license, the bank offers financial services for both consumers and businesses. Northmill became the EU-based bank receiving the most awards at the Banking Tech Awards 2025 and has been ranked three times as one of Europe’s fastest-growing companies by the Financial Times, most recently in 2026. In Q4 2024, it became the first Swedish bank to complete a payment through the Swedish Riksbank’s new infrastructure for real-time account to account payments, RIX-INST. Northmill Group’s CEO Julie Chatterjee was one of only two executives from a Swedish bank invited to speak at the most recent annual FT Global Banking Summit in December. In October 2025, her peer-reviewed publication on AI in banking, was published in the Journal of Digital Banking. www.northmill.com/se/
