Alisa Bank is using Crosskey’s Swift service bureau solution

Written by
Published on
September 5, 2023

Quotes by

Tanja Ruohoranta-Rinne

Development Manager

Alisa Bank is a Finnish digital bank that helps both personal and business customers to manage their day-to-day finances flexibly and straightforwardly. The bank is known for its competitive deposit interest rates for savings accounts and term deposits. Alisa Bank is regulated by the Financial Supervisory Authority of Finland and listed on Nasdaq Helsinki’s main list.

Access to the Swift network

Alisa Bank is using Crosskey’s Swift service bureau solution. Via the service, Alisa Bank has access to the Bank of Finland’s systems as well as to the Swift network. Swift is a global information network used by financial institutions to send and receive information, such as payment orders quickly, accurately and securely. Access to such systems is vital for Alisa Bank to operate as a bank.

Why Crosskey

Alisa Bank was founded in Spring 2022 when Fellow Finance, the leading crowdfunding and peer-to-peer lending service in the Nordics, merged with the company that continued Evli Bank’s operations. For Alisa Bank, as a new and relatively small player in the banking industry, it was more efficient to implement the connection to the Swift network with a partner compared to conducting it internally.

As a result, cooperation with Crosskey saved a lot of time, additional costs, and resources for Alisa Bank. This was very important as the new bank had many other ongoing development projects running at the same time. The decision to start cooperation with Crosskey was also backed up by the fact that Crosskey has a robust reputation as a reliable Finnish partner. Money transactions are at the core of banking and thus everything around it must be executed with the highest standards. Crosskey has been operating a Swift service bureau since 2006. The company has extensive knowledge in matters such as eligibility criteria, roles and responsibilities, as well as legal, financial and operational requirements when operating a Swift service bureau.

We partnered with Crosskey because the company met our needs well. We aimed to find a trustworthy and experienced partner and Crosskey got top points on these matters. Moreover, we valued it very much that Crosskey is a local operator and therefore has a deep knowledge of the systems and policies of the Bank of Finland. I warmly recommend Crosskey to other financial institutions