Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

Start by selecting your Topic of interest below. Then choose your Regions and finally refine the exact Subjects you are seeking clarity on to view detailed analysis provided by our carefully selected internationally recognised experts.

4. Results: Answers
Trends and predictions
How would you describe the current fintech landscape and prevailing trends in your jurisdiction? Are any new developments anticipated in the next 12 months, including any proposed legislative reforms?

Answer ... See question 2. Although the Norwegian market is small, the fintech sector has seen rapid growth and more than 100 companies are now operating in this space. Investment vehicles are also being established, which will hopefully fuel further growth in this sector.

Some fintech companies have become household names (eg, Vipps, Auka, Deal Flow, Enin Payer, Quantfolio, Fiken, Tribe). However, based on the number of deals and the value of investment capital, it appears that there has been less activity in the sector in 2019 than in 2018. The full impact of the Second Payment Services Directive has yet to be realised in the payment sector and in the area of open banking; we anticipate significant new developments here in the next 12 months. We also expect:

  • disruption in the accounting sector, with the establishment of a new generation of accounting firms;
  • continued growth in the crowd segment;
  • further integration of the offering of exchange services for cryptocurrencies and wallet providers into the fiat economy, with less friction in this segment; and
  • new regulations in relation to financial services, crowdlending, loan intermediation and consumer protection.

For more information about this answer please contact: Petter Bjerke from Advokatfirma DLA Piper Norway DA