Swedish Fintech Dreams Establishes Entity to Expand Engagement Banking Offering

Dreams AB, the financial wellbeing platform and “leader” in engagement banking solutions, announces the establishment of a new entity, Dreams Technology, “reflecting the company’s ongoing expansion into the B2B space.”

Having initially launched as a B2C money-saving app in the Nordics in 2016 – where it has helped over 500,000 users across Sweden and Norway become better at saving, investing and debt management – Dreams Technology is “building on the success of its consumer platform to expand into the B2B space and focus solely on providing its proprietary financial wellbeing technology as a white-labelled and embedded B2B solution to banks worldwide.”

The brand refresh “marks the separation of Dreams AB into two separate B2C and B2B businesses, with the B2C unit now transitioning into Dreams Sustainable, established as a joint venture with the BNP Paribas Group.” Dreams AB continues “to exist as the holding company for both Dreams Technology and Dreams Sustainable.”

Dreams’ B2B arm, Dreams Technology, “brings tangible business value to banks by helping them boost revenues through increased consumer engagement with their banking applications, attract new target groups, and address ESG goals, while improving the financial wellbeing of their customers.”

By leveraging Dreams Technology’s holistic offering, financial institutions are able to effectively “drive meaningful and personalised engagement with their customers, boost Savings Under Management and Assets Under Management by empowering customers to save and invest more, reduce default rates (which is particularly relevant now in the face of the cost-of-living crisis), and deliver on their ESG commitment by effectively helping customers reduce their carbon footprint.”

The Dreams platform “has been co-created with leading behavioural scientists from the fields of psychology, neuroscience, and behavioral economics.” The company “invested over 8 years of scientific research with 8 worldwide leading institutions and more than 30 external researchers to deliver radical new ways to boost banking customers’ digital engagement and financial wellbeing.”

The Dreams Technology engagement banking platform – which operationalises over 100 behavioral science insights and seamlessly integrates into banks’ existing digital applications – is designed “to activate intrinsic motivation and drive sustainable behavioural change in banking customers by closing the intention-action gap, creating positive and impactful financial behaviors, and making money more emotional, accessible, and effective for everyone.”

The early adopters of Dreams Technology’s engagement banking solutions “include market leaders such as BNP Paribas Group and Mastercard.”

Henrik Rosvall, CEO & Founder of Dreams Technology, comments:

“The rebrand marks an incredibly exciting time for our company as we look to boost the next phase of international expansion and consolidate our position as a market leader within the engagement banking space. The new direction of the company will enable laser focus on growing our B2B business, supporting banks in creating deeper and more valuable relationships with their customers, and helping us achieve our core mission of making financially sustainable living an everyday reality for people.”

Henrik added:

“As the cost-of-living crisis sharpens its teeth and continues to cause financial anxiety for millions of households around the world, the need for banks to start encouraging their customers towards healthier financial behaviours is becoming more important than ever, and we’re confident that we can support them in that transition.”

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