Implement Consulting Group and Copenhagen Fintech published a report called Deciphering Nordic Impact Map, which is exploring, how sustainability can be a driver for success for Nordic fintechs. Finland was ranked as number 2 in this report. According the research Finland has 25 % of the impact fintechs in the Nordic.
The financial sector is central in addressing today’s opportunities and challenges with the transition to a sustainable society and economy. The booming Nordic fintech start-up scene is leading the way in finding new financial solutions towards a society fit for the future. Right now almost 200 fintech starups from the Nordics are in the process of developing tech solutions aimed at solving the 17 SDGs. The recently published report explores how fintechs and the established sector has a significant part to play in the sustainable transition.
The fintech start-up scene is booming in all of the Nordic countries, supported by a variety of organisations, hubs and accelerators called the Nordic Fintech Alliance. By conducting a mapping, impact fintech categories were built, showcasing the five focus areas of fintech start-ups working in the impact space.
The impact fintechs have been mapped according to the five focus areas:
- Financing Impact: Fintech companies making it possible to invest in or finance impact activities.
- Financial Inclusion: Fintech companies helping underbanked groups get access to different financial services.
- ESG Data: Fintech companies that use different kinds of datasets to analyse companies based on their ESG impact.
- Energy and Climate: Fintech companies focus on developing data- driven. CO2, waste reduction or carbon offsetting products.
- Anti-corruption and crime prevention: Fintech companies with solutions focusing on digital crime, anti-money laundering and anti-terror financing etc.
The Nordic Fintech Impact Mapping 2020 was done by the Nordic fintech cluster organisations from Denmark (Copenhagen Fintech), Iceland (The Fintech Cluster), Sweden (Findec), Finland (Helsinki Fintech Farm) and Norway (NCE Finance Innovation and The Factory).