Swedish neobank Rocker has chosen Finnish fintech startup Enfuce to set up and launch its prepaid card offering.
Stockholm-based Rocker, formerly known as Bynk, runs a mobile platform for personal finance and is active in loans, payments and savings.
Earlier this year, the neobank expanded its business within consumer payments by launching a debit card and sought a flexible solution to underpin a prepaid card offering.
Rocker joined forces with Enfuce in order to fast-track an otherwise complex card issuing process. Besides supporting licensing, compliance and payment processing, Enfuce’s one-stop-shop service helped Rocker to process card transactions according to the highest security and compliance standards.
Oscar Hyléen, deputy chief executive officer and head of communications at Rocker, explained: “We are a tech company building a retail banking platform with services that are more flexible, super easy to use and more affordable. As we expand towards our vision of becoming Europe’s number one future neobank and offer people the chance to replace their old bank, we need strong and flexible infrastructure partners to be part of the platform creation.”
The collaboration with Enfuce will enable Rocker to issue feature-rich cards compatible with any payment method, currency or geography, which will aid the neobank with its plan to expand its business across Europe.
Monika Liikamaa, co-founder and chairman of the board at Enfuce, said: “We’re excited that Rocker chose us to power their cutting-edge neobank service. Through our card-as-a-service solution, they can launch modern payment services easily and securely. We’re thrilled to work with a team of innovative professionals who are building extraordinary products within personal finance.”
Enfuce is also helping Rocker with its operational requirements through a suite of back-office services covering disputes, risk management and service desk support.
Liikamaa added: “Our partnership shows how collaboration is the key to achieving big things in fintech. By internalising all the complexity of the payments industry, we help Rocker to focus fully on building amazing customer experiences. We’re thrilled to join forces with a truly like-minded partner and look forward to growing together.”