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Future-proofing Nordic payment infrastructure

The future of payments is complex and it takes the combined expertise of many to create tomorrows solutions. ​

Which is why we partner with our clients to support them on their ISO 20022 migration journey.​

Which is why we collaborate, not only with central banks but also other Nordic banks to enable seamless, borderless payments across the Nordics which remains as our vision. ​

​The Nordic banks have agreed to manage payment standardisation via the organisation Nordic Payment Council (NPC), who is governing next generation product rulebooks. ​

Infrastructure changes


In Denmark there are several changes including upgraded central bank infrastructure (Target2) for high value payments and the new infrastructure (TIPS) for instant payments in Danish Krona. Low value payments are delivered in local payment standards but are expected to move to Nordic Payment Council (NPC) rulebook.​


Finland is already part of SEPA and the European solution for high value payments (Target2),  commercial payments (SEPA via EBA Clearing), and SEPA instant via TIPS at European Central Bank. ​


Norway continues to support the Nordic Payment Council (NPC) rulebook but current products follow local standard. An analysis is also started if Norway should move long term to the European Central Bank’s Target 2 and TIPS platforms for Norwegian Krona flows.


The future standardised Nordic payment products , agreed in Nordic Payment Council (NPC) rulebook, will be delivered by Bankgirot, the Swedish clearing house. In addition, the Swedish central bank is also implementing a new instant payment infrastructure (TIPS/RIXInst) to be used for Swish payments and can be used further for other instant needs.​