Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Search
Close this search box.

Lunar Transitions to a Specialized Entity for Enterprise Payment Services

Introduction

A single application programming interface (API) will allow for seamless operations across Denmark, Norway, and Sweden. The bank is currently in the process of establishing the Moonrise business, which promises to ease financial connectivity for payment enterprises.

Challenger banks and fintech companies are expecting that this initiative will assist them in overcoming the obstacles that prevent them from entering the market in the Nordic region. This will enable them to compete in a region that has traditionally been dominated by legacy institutions.In the meantime, the separation is intended to ensure that Lunar can continue to build on its success as a challenger in retail banking while also boosting Moonrise. This is accomplished by providing each player with the freedom and resources they require throughout the process.

According to Lunar, the European BaaS market is anticipated to witness dramatic expansion and is anticipated to reach a value of one hundred billion euros by the year 2030.

For example, Lunar Banking Services already processes more than 10,000 transactions every single day and has a transaction volume run rate of five billion euros.

Read: Transform Your B2B Strategy with Innovative Invoicing Solutions

Industry Comments

Ken Villum Klausen, CEO, Lunar, says: “The Nordic market is extremely profitable yet difficult to access. For decades, it has been dominated by the same players operating in a stale system. Moonrise is here to change that. By breaking down these barriers, we enable international fintechs and banks to access the Nordics.”

Adds Villum Klausen: “By taking the first step towards a dedicated focus through a separate entity, we can sharpen our focus on enterprise payments, scale faster, and ensure both Moonrise and our retail banking arm thrive independently.”

FAQs

1. What is the purpose of the Moonrise initiative? Moonrise aims to simplify financial operations across Denmark, Norway, and Sweden by providing a single API for payment enterprises, helping fintechs and challenger banks enter the Nordic market.

2. How will Moonrise help challenger banks and fintech companies? It will break down barriers that have made it difficult for these companies to compete in the Nordic market, allowing them to access a region traditionally dominated by legacy banks.

3. What is the separation between Lunar and Moonrise meant to achieve? The separation allows Lunar to continue growing as a challenger in retail banking while giving Moonrise the independence and resources needed to focus on enterprise payments and scale faster.

4. How big is the European BaaS market expected to grow? The European Banking-as-a-Service (BaaS) market is expected to reach 100 billion euros by 2030.

5. How many transactions does Lunar Banking Services handle daily? Lunar Banking Services processes more than 10,000 transactions per day, with a transaction volume run rate of five billion euros.

Read: Top 10 Financial Software Solutions

Conclusion

Moonrise represents a significant step in transforming the Nordic financial landscape. By offering a single API for seamless operations across Denmark, Norway, and Sweden, it opens up new opportunities for challenger banks and fintech companies. With the European BaaS market set for substantial growth, initiatives like Moonrise are crucial in breaking down long-standing barriers, enabling international players to compete in a profitable yet challenging region.

Read: AI in Insurance

To participate in our interviews, please write to us at news@intentamplify.com

Top Fintech Stories:

Share With
Contact Us