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Icelandic challenger bank indó contracts with Enfuce ahead of mobile app launch

Icelandic challenger bank indó contracts with Enfuce ahead of mobile app launch

Icelandic challenger bank indó has signed with Finnish technology provider Enfuce, which will provide the foundational tech for payments, open banking and sustainability services.

The first app-based challenger to emerge in Iceland, indó is following the usual path of releasing a smart money management app tied to a debit card. Once approved for a banking licence, the firm intends to offer current accounts with an introductory market-beating interest rate.

Enfuce’s turnkey service contains the capabilities for implementing data-driven features in the indó app, set for launch later in 2020.

The key pillars of Enfuce’s offering - Payments Services, Open Banking and My Carbon Action - will underpin various elements of the indó user experience.

Enfuce’s plug-and-play carbon footprint tracker will show indó users the CO2 emissions of their individual spending in categories like food and transportation, and provide actionable insights on sustainable lifestyles.

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