Two of Sweden’s largest payment and credit services software companies, Aptic and Asitis, are merging in response to sharply rising demand from consumer and finance companies.
Payment services today can provide an important profit margin, translate into an important customer service but has also become a cost issue. More and more companies are choosing to bring that infrastructure in-house. At the same time, companies increasingly want to link the chain of services, which demands a great deal of our software industry, says Knut Eirik Storsul, CEO of Aptic.
The companies Aptic and Asitis, have worked side by side for almost 20 years. Now they form the largest payment and credits solutions company in the Nordics. Over the next 3 years, the company is expected to double in size to over 300 employees.
As trade shifts from physical stores to online transactions, payment services have experienced a boost. This is an area where companies have the opportunity to significantly increase their margins, while increasing their service and reduce costs. The challenge is to bring many different systems together, says Knut Eirik Storsul. Furthermore the merger is a great opportunity to increase our investments in tech with machine learning and open banking functionalities for our products, says Rick Terra, Country Manager
Today, Aptic operates from six cities: Skövde, Stockholm, Trollhättan, Oslo, Amsterdam, and Århus. At each location, we create a business based on local competence and the potential to recruit. Since the competence we look for is very specific and often linked to a few people, it is also important for us to be present in many places, where we can recruit the skills we need for the entire Group, says Knut Eirik Storsul.
As companies in the Nordic countries are recognized as being at the forefront in terms of e-commerce and payment services, Aptic is also experiencing growing demand from several countries in Europe. We recently opened in Amsterdam. Several of our customers want us to open in more countries. This is where our software and services fit in well, facilitating growth for our customers and allowing us to grow with them, says Knut Eirik Storsul.
Businesses have become significantly better at using payment flows more efficiently. Now several companies are taking the next step and insourcing the services to get more control, increase service and secure better margins. In addition to payments, consumer and finance companies also want to link the entire chain of financial services, such as credit, leasing, invoice and more. That will strengthen these companies further, says Knut Eirik Storsul.