AI and Open Data Are Strengthening Swedish Finance

Sweden has long been at the forefront of fintech innovation, but growing demands around responsibility, regulation, and data protection are now putting that leadership to the test. Malin Önnby, Chief Commercial Officer at Kreditz, notes that new EU rules, rapid technological development, and rising expectations on transparency are reshaping the foundations of the banking and financial sector at the same time as real-time data and AI unlock a new level of security and competitiveness.
“With open data and responsible AI, banks can get tools that not only meet regulatory demands, but also strengthen customer relationships and Sweden’s competitive edge,” she says.

The financial industry is at a critical inflection point as EU directives like PSD2 and the upcoming CCD2 change how institutions may access and use customer data. At the same time, Malin explains, expectations around fair credit assessments, data protection, and transparency are increasing.
“We see that open data and real-time analytics are no longer a technical add-on, they’re a necessity if you want to truly understand a consumer’s financial situation. It’s not just about reducing credit losses; it’s about building a more sustainable financial ecosystem where decisions are based on actual data, not assumptions,” she says.

Creating a Fair and Current Picture

Kreditz has built its business on exactly that insight. By analyzing account data in real time, the company can provide a more accurate, up-to-date picture of a customer’s finances, something that makes a real difference in a world where precision and trust are crucial. It allows banks and lenders to base decisions on real repayment ability instead of outdated registers, thereby reducing the risk of both credit losses and misjudgments.

“The result is faster decisions, lower risk, and a better experience for both banks and consumers,” Malin says. “When credit assessments are grounded in real-time data instead of static models, decisions become both safer and more precise for everyone involved.”

“Trust Is the Core”

She is clear, however, that this evolution is not only about technology. For Sweden to maintain its leading position, strong trust is needed between institutions, regulators, and consumers.
“For us, the future is just as much about values as it is about code. Trust is the core. Without transparency and responsibility in how data is used, both banks and customers lose out in the long run. Sweden has everything it takes to be a role model in responsible AI in finance. If we manage to preserve that balance, we can show the rest of Europe how to build a data-driven and secure financial market, and it’s our job to prove that you can combine innovation and safety to get there.”