August 11, 2017

Basware partners with Nordea

Nordea is the largest corporate bank in the Nordics.
Nordea is the largest corporate bank in the Nordics.

Finnish e-invoicing and purchase-to-pay solutions provider Basware has entered into a strategic partnership with Nordea Bank to deliver a dynamic discounting solution in the Nordic countries.

The agreement sees Basware and Nordea jointly offering a dynamic discounting solution to Nordea’s corporate customers. Meanwhile, Basware will deliver the solution integrated into the customers’ Purchase-to-Pay (P2P) or customers’ Enterprise Resource Planning (ERP) solutions.

“Regardless of what the objectives of the businesses are, with Basware we can now help businesses take advantage of their excess cash and gain a better return on invested capital,” says Patrik Zekkar, global head of trade & working capital management sales at Nordea. “[…] Basware is a recognised leader in financial technology solutions, and we are excited to provide dynamic discounting offering to our customers together with them.”

According to Basware CEO Vesa Tykkyläinen, the partnership enables the Finnish company to further establish its financing services offering to businesses in the Nordic region.

“Through this partnership, Nordea can take advantage of our expertise in purchase-to-pay process, and build new exciting cloud-based value-added services into their trade financing portfolio,” Tykkyläinen states. “Basware sees that this partnership can substantially accelerate the adoption of financing services in Scandinavia, including dynamic discounting.”