Sweden’s Fedelta Finance deepens Vilja partnership with launch of savings accounts

Swedish lender Fedelta Finance has expanded its partnership with banking technology provider Vilja, launching a new savings offering powered by Vilja Deposit. 

The collaboration follows Fedelta Finance receiving authorisation from the Swedish Financial Supervisory Authority (Finansinspektionen) in April to operate as a credit market company, enabling it to offer state-guaranteed savings accounts. The company, founded in 2018, provides corporate and real estate loans and now offers savings accounts with deposits up to SEK 1,050,000 (approximately $112,000). 

Vilja’s Software-as-a-Service (SaaS) deposit offering forms part of the company’s core banking suite, which encompasses lending, leasing, BNPL services, revolving credit, and current accounts. Fedelta Finance initially partnered with Vilja in 2021 to power its small and medium-sized enterprise (SME) lending services.

The expanded partnership coincides with significant momentum for Stockholm-based Vilja. The company recently secured Handelsbanken as a client for its loans solution and raised $4 million in funding to support its international expansion beyond the Nordic region.

Additionally, Vilja has announced that mortgage firm Borgo plans to offer savings accounts through the digital platform Levler, utilising the vendor’s core banking technology. Borgo became a Vilja client in 2021, choosing the Vilja Deposit solution to support its mortgage offering.

Source: https://www.fintechfutures.com/