Finn Larsen Dahl, Chief Commercial Officer, ApticFinn Larsen Dahl, Chief Commercial Officer
The financial services sector is always in a state of flux—evolving incessantly with the changing consumer and business behaviour and shifting market demands. Here, nimble, agile startups thrive alongside legacy technology and traditional thinking to stay at the helm of new trends and keep rewriting the financing game rules.

Take the Buy Now, Pay Later (BNPL) financing model, for instance. With the ability to increase both user experience with easy purchases and driving additional ecommerce sales, BNPL has become the next big payment trend in the online retail world. Every forethinking commerce and financial services organisation is looking to implement the BNPL approach to attract new consumers and scale their business.

Similarly, there are numerous other financing trends frequently impending on the horizon along the lines of digital banking, factoring, debt recovery, lending, and other credit management within both consumer and business. And every small local company to large international enterprise wants to be at the cutting edge of offering innovative and flexible financial services that leverages the trend and broadens the potential of modern business financing.
At the centre of enabling the financial services sector to grab such opportunities is Aptic, a Nordic fintech solution provider. With 130 employees spread across northern Europe, the company has been serving the North European financial services market since 2001. Today, Aptic is a trusted name in the fintech realm and is key player in reinventing the financial services landscape with robust and sustainable solutions by bringing into play today’s technological developments and empowering enterprises to stay at the helm of the fintech revolution.

Keeping Up with the Fintech Evolution

Although the financial services industry at large is always on the path of continuous change and growth, it is never without constraints. A significant challenge comes from disconnected service ecosystems, which further aggravates during product or geographical expansion. “The companies often onboard several piecemeal solutions to cater to the different needs of the financial lifecycle, creating siloed products and workflows within a company,” says Finn Larsen Dahl, the chief commercial officer at Aptic.And this challenge intensifies manifold when the company wants to expand its services to new locations. Due to region-specific regulations and market-specific financial service requirements, the organisation usually collaborates with different localised vendors at different locations, creating disconnected and unstandardized software infrastructure. In the wake of the resulting silos, organisations can find themselves under hard pressure to offer the consistent, unified, and omnichannel financial solutions that their consumers and business clients expect.

This is where the multi-country, multi-currency platform and solutions provided by Aptic can help organisations overcome their challenges and scale across varying infrastructures and geographical locations without worry.Aptic covers the entire end-to-end financial lifecycle: from origination or point of sale to full credit management services through to debt collection within one platform. Moreover, the platform also facilitates seamless integration of multiple region-specific or service-specific solutions within its platform via open APIs so that clients have the flexibility to customise, upgrade, or scale their infrastructure as per the changing regulatory and market requirements.

Highlighting the value proposition of his company, Dahl says, “Anyone can hold ledgers, but it is the surrounding capabilities in services, the workflows, and the APIs that facilitate a seamless client journey and move the financing environment forward.”This is precisely what Aptic brings to the market.

Aptic covers the entire end-to-end financial lifecycle: from origination or point of sale to full credit management services through to debt collection within one platform

To illustrate the uniqueness of its unified solutions approach, Dahl compares it to the layers of an onion. “The platform has the core functionalities of data processing and reporting, with several customisable layers around it,” he notes. Moreover, the platform’s open APIs make it extremely easy for clients to plug in their siloed fintech solutions and systems. Thus, by fashioning a centralised point of control, Aptic enables its clients to seamlessly bring together and manage cross-functional financial workflows from one place rather than keeping it scattered across multiple infrastructures. This also standardises the workflow across the clients’ different locations. State of the art automation and machine learning can further boost clients’ business performance and efficiencies in their financial operation.

Guiding the Clients to Success

Even when implementing its solutions, Aptic follows a simple yet effective onboarding process. Based on an initial pre-study, the company decides how to replace the legacy systems and define the ways of working, and thus clearing their path towards innovation. More importantly, Aptic normally conducts the majority or entire implementation process remotely, which means, Aptic’s team doesn’t have to be at the client’s site during the onboarding process. This facet has become especially beneficial during the COVID-19 pandemic, as the platform integration operations can be done from afar without disrupting the client’s workflow. Such a quick onboarding approach (both cloud and on-prem) has made Aptic a go-to fintech solution provider.

A good example would be the leading ecommerce group in the Nordics that chose Aptic for enhancing its BNPL and revolving credit services. The client built its customised transaction service using Aptic’s platform, which unified and enhanced their entire financial chain from invoicing to payment processing. As a result, one of Nordic’s biggest ecommerce players is now able to offer flexible BNPL payment options to engage with its customers at a greater level. Most notably, the client can handle large volumes of invoices and BNPL transactions with extremely quick response times and zero downtimes. “It was not just the development of a robust payment system, but also how we assisted in the coordination and organisation of the solutions and operation, which contributed to its success,” mentions Dahl.

Empowered by many such accomplishments, Aptic is now setting the tracks for its expansion beyond the Nordics into the broader European fintech space.

While doing so, the company is also striving to further enhance its offerings to bring greater operational connectivity within financial organisations. Moreover, the company is constantly enabling its clients to unlock new opportunities of the open banking model according to the revised payment services directive (PSD2). Likewise, in the coming months, the company will continue to invest in machine learning, artificial intelligence and other emerging technologies into its offerings and further push the bounds of financial technology. “We will keep developing cutting-edge systems that empower our clients to conquer new markets in the financial world,” concludes Dahl.