Neonomics and KapitalKontroll Partner to Streamline Debt Management Through Open Banking

KapitalKontroll, an innovative Norwegian provider of debt management and collection services has partnered with Neonomics to launch a fully automated debt collection system that manages all payments through Neonomics open banking platform, enabling increased efficiency and security for its customers who include an extensive list of Norwegian municipalities and both small and large businesses across the country.

As much as 40 percent of the Norwegian collection debt of NOK 115 billion kroner, consists of fees and interest. For KapitalKontroll’s large customers, fees and interest amount to only 4 percent, as their core focus has been on delivering a more efficient operating model. Municipalities across Norway benefit through KapitalKontroll’s low-fee model, and now will also be able to offer end users the ability to directly complete payments from their own bank accounts in a secure and user-friendly way.  

Kristoffer Årvik, CEO of KapitalKontroll says: “We are excited to work with Neonomics to enable fast, secure and user-friendly payments for our customers and end users. We look forward to working closely together to deliver and further develop innovations within this space thanks to Neonomics mix of technical performance, cost and support” 

Account-to-account payments are an ideal payment method for debt management service providers because of it´s efficiency and security both for merchants needing collection services and for end users completing payments.  

Speaking on behalf of Neonomics, CEO Christoffer Andvig said, “We are pleased to be working closely with KapitalKontroll to help further evolve the great work they’re doing in the debt management space. The combination of KapitalKontroll’s operating model and our open banking solution will help drive efficiencies across the business benefiting every stakeholder in the value chain.”