Standard Life Investments
Skandiabanken ASA

Who is Skandiabanken ASA?

Backed by Altor Equity Partners, Skandiabanken ASA is a digital bank in Norway.

What does Skandiabanken ASA ("Skandiabanken") do?

Skandiabanken operates as a branchless digital bank, the first of its kind in Norway. It offers a range of financial products and services, including long and short-term loans; payment and card services; investment products; and saving schemes. With no branches, all services are offered via the digital platform, accessible across a number of devices.

"Satisfied customers are important to us" - Skandiabanken ASA

The opportunity

Why Altor Equity Partners invested in this business:

  • For the opportunity to capitalise on the move to digital
  • Outperform the legacy banking model with its outdated technology and high fixed costs
  • Expand secured lending offering into new regions
  • Build on Skandiabanken’s success in winning short-term loans and asset management services.

Why we like the investment

"Leveraging modern technology in a sector which has been slow to adapt makes for a very exciting investment" – Merrick McKay, SL Capital

Investment Year

2016

Head office

Norway

Status

Invested

Standard life Capital