Competitors

Competitors

Fintech companies are growing in number, and competition in the market is increasing with greater fragmentation among financial service providers. At the same time, digitisation makes customers more willing to switch banks. The Swedish market is still dominated, however, by the four major banks SEB, Nordea, Swedbank and Handelsbanken and major insurance brokers such as Soderberg & Partners and Max Matthiessen, and large pension companies such as Skandia, SEB Tryggliv and Folksam. In addition, there are a variety of smaller banks, of which Avanza sees Nordnet as its primary competitor.