The life insurance arm of Nordea Bank is partnering with local startup Spiff on the development of a smart social savings app.
The new app, which is currently in closed beta, will enable subscribers to set aside money for specific goals, such as a holiday, mortgage down-payments or pension investments.
Randi Marjamaa, CEO of Nordea Liv, says: "Spiff offers us a new approach to saving that is easy, fun and social. It is more important than ever to save, especially now that individuals are made responsible for their own pensions."
Founded by former bankers Carl-Nicolai Wessmann and Steve Mellbye-Stølen in 2015, Spiff has so far raised NOK 10 million from a diverse group of investors.
Nordea Liv is inviting potential subscribers to join the beta pilot ahead of a full scale launch in the summer.