The Danish fintech company Subaio has signed an investment and partnership agreement with Nordea, the largest retail bank in the Nordics. This agreement will enable Nordea to integrate the Subaio solution into Nordea’s existing digital platforms.
“We focus on creating a bank that is more accessible to our customers, easy to deal with and strongly committed to the societies in which we operate. We’re therefore pleased that we can now offer our customers a smart digital solution like Subaio”, says Mads Skovlund, Deputy Head of Personal Banking at Nordea in Denmark.
With the subscription management solution from Subaio, Nordea allows their customers to easily see who is charging them by giving an instant overview of their subscriptions and recurring billings. Furthermore, all Nordea’s customers can stay on top of their payments, as they get notified when they are charged for new services. Finally, the customers are able to cancel their subscription in seconds through the solution, no need to wait in line, call Customer Service, or fill out complicated forms.
Subaio and Nordea case study
As of September 2018, Nordea’s customers in Denmark have been able to use the service from Subaio, providing them a simple insight into their increasing use of subscriptions to music-, movie- and tv-streaming, software, mobile and broadband etc.
The investment and the partnership with Nordea will enable Subaio to expand the subscription management solution to 1,5 million consumer banking customers in Denmark. When Nordea Denmark is well onboarded, the solution will be implemented in Nordea Sweden, Norway and Finland.
Including the newly signed Nordea partnership agreement, the Subaio solution will be serving more than 10 million users in the Nordics in total.
“We are very honoured that Nordea – the leading retail bank in the Nordics – has decided to invest in Subaio. This investment allows us to increase our strategic focus on European market, scale our offers, and help banks to make their customers life easier”, says Thomas K. Laursen, co-founder and CEO of Subaio.