KapitalKontroll, an innovative Norwegian provider of debt management and collection services has partnered with Neonomics in order “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, “is 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 beworking closely with KapitalKontroll to help further evolve the great work they’re doing in thedebt 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.”
As noted in the update, KapitalKontroll is “a Norwegian System as a Service (SaaS) company that provides a fully automatic solution forinhouse-debt-collection for municipalities and both small and big companies.”
KapitalKontroll ́s ultimate goal is “no poverty, and the founders believe that our system will make a difference.” The company started “in 2003 and even at that time our debt collection system was cloud-based.” The company “has its own developers in Oslo and both the system, and the IT-security holds a very high standard.”