Northmill Bank becomes a key banking partner for direct Swish participation

Northmill Bank, a tech-fuelled challenger bank, has been chosen by Trustly, a global leader in Pay by Bank solutions, to enable their direct participation in Swish, marking a major milestone in the expansion of Sweden’s leading instant payment system beyond traditional banks.

This development follows the EU’s Instant Payments Regulation, which has paved the way for Getswish to extend direct participation to additional licensed financial institutions. In December 2024, Northmill Bank became the first Swedish bank to offer real-time payments via RIX-INST, connected to the European TIPS infrastructure. Acting as a correspondent bank, Northmill now connects Trustly directly to RIX-INST, giving them greater control over its Swish integration, onboarding processes, and instant payment operations.

“Enabling direct Swish participation for Trustly, one of the leading players in digital payments, highlights how modern banking technology can drive real innovation. With our agile, tech-first approach, we make it easier for partners to focus on delivering great customer experiences while we take care of the infrastructure behind them”, says Gabriel Yousef, Chief Commercial Officer at Northmill Bank.

By establishing a direct connection to Swish, a Swedish payment method with 8.7 million private users and 300,000 businesses, Trustly can now offer merchants a better and more tailored payment experience. The integration enables faster onboarding, improved settlement times, and simplified reconciliation.

“Northmill Bank’s strong technical capabilities and collaborative approach allowed us to launch efficiently while meeting all financial and regulatory requirements. This launch sets a new standard for how innovative players can connect to Swish”, says Kalim Khan, Director, Product Partnerships at Trustly.