Reiknistofa Bankanna

What Reiknistofa Bankanna does

Reiknistofa Bankanna (RB) is an Icelandic IT firm founded on March 23, 1973, that provides software infrastructure and consulting services to the Icelandic financial sector. The company operates as the shared computing and payments utility for Iceland's commercial banks and savings banks (sparisjóðir), delivering core systems for deposit management, payment processing, interbank clearing, debt collection, and physical banknote handling. RB's interbank system runs in parallel with the Central Bank of Iceland's own interbank system, forming the core of real-time payment intermediation for the Icelandic economy and processing daily transaction volumes measured in the hundreds of thousands.

The product portfolio comprises five integrated service lines: Innlána- og greiðslulausnir (Deposit and Payment Solutions) handling deposit accounts and interbank transactions; Innheimtulausnir (Collection Solutions) for debt collection and payment forwarding; Seðlaver (Banknote Services) for counting, sorting, and transportation of cash across commercial banking; Millibankakerfi (Interbank System) for real-time payment intermediation; and Þjónustu- og gagnatorg (Service and Data Portal), a platform layer that facilitates system integration and minimizes bespoke customization. RB holds ISO/IEC 27001:2013 certification for information security, PCI DSS v4.0.1 compliance for payment-card data security, and SWIFT Enabler Partner status for 2025. The company is headquartered at Dalvegur 30, Kópavogur, Iceland.

RB operates a private B2B business model, delivering mission-critical infrastructure directly to Icelandic financial institutions through long-term institutional relationships. Pricing is not publicly disclosed, but the company maintains a published price list. Revenue mechanics are not transparent. Customer segments are concentrated in two horizontal groups — Icelandic commercial banks and Icelandic savings banks — making the entire addressable market effectively the Icelandic financial sector. The company employs between 101 and 250 people, is led by CEO Ragnhildur Geirsdóttir, and has no parent company or venture-capital backing disclosed. Distribution is direct enterprise sales, with marketing limited to a corporate website, LinkedIn, and Facebook. RB is also active in Icelandic STEM education initiatives, including a founding role in 'Forritun til framtíðarinnar' (Programming for the Future).

Name

Reiknistofa Bankanna

Legal name

Reiknistofa Bankanna

Website

https://rb.is

Company type

Private

Founded year

1973

Operating status

Operating

Headcount range

101–250 employees

Short description

Reiknistofa Bankanna (RB) is an Icelandic IT firm founded in 1973 that operates as the shared core-banking and payments infrastructure provider for Iceland's commercial banks and savings banks, handling deposits, interbank clearing, collections, and banknote processing.

Ownership category

akta.pro rank

Product category

Financial Technology Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Payments Operations (ACH/Wire/RTGS, SWIFT, SEPA, Checks) (FSABALAB)

akta.pro secondary industries

Deposit Operations (Account Maintenance, Fees, Reconciliations) (FSABALAE), Bank-to-Bank Transfers & Pay-by-Bank (Consumer & Merchant) (FSAMAFAC)

Keywords

• Core banking infrastructure
• Payment processing systems
• Interbank clearing systems
• Deposit management services
• Banknote handling services

Headquarters

HQ city

Reykjavík

HQ country

Iceland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Others

Distribution channels1 record

Marketing channels3 records

Core offering

Reiknistofa Bankanna (RB) operates the core financial technology infrastructure for the Icelandic banking sector, providing deposit and payment processing systems that handle hundreds of thousands of daily transactions, interbank clearing systems operating alongside the Central Bank of Iceland for real-time payments, debt collection solutions, and banknote counting/sorting/transport services. The company also maintains a service and data portal to facilitate system integration and data access for its institutional clients, Icelandic commercial banks and savings banks.

Product overview

Reiknistofa Bankanna (RB) provides financial infrastructure services as a unified platform for the Icelandic financial system. The core offerings include: Deposit and Payment Solutions (innlána- og greiðslulausnir) managing deposit accounts with high-volume transaction processing; Collection Solutions (innheimtulausnir) for debt collection and payment forwarding; Note Handling Services (seðlaver) for cash processing in banking; and the Interbank System (millibankakerfi) for real-time payments alongside the Central Bank. These are supported by a Service and Data Portal (þjónustu- og gagnatorg) that facilitates system integration and reduces customization needs. RB serves as the trusted backbone of Iceland's financial system, having operated for over 50 years.

Differentiator

Problem solved

Functional benefit

Products and services

• Innlána- og greiðslulausnir (Deposit and Payment Solutions)
• Innheimtulausnir (Collection Solutions)
• Seðlaver (Banknote Handling Services)
• Millibankakerfi (Interbank System)
• Þjónustu- og gagnatorg (Service and Data Portal)

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Seven partnerships are on record, tiered core, flagship and minor.

• SwiftcoreTechnology or Integration · 1 January 2025RB is a Swift Enabler Partner for 2025, providing integration and connectivity services for Swift messaging and transactions in the Icelandic financial system.
• Forritun til framtíðinnar (Programming for the Future)flagshipStrategic or Co-development PartnerRB is a founding member of 'Forritun til framtíðinnar' (Programming for the Future), which has the purpose of strengthening and increasing interest in programming and the use of technology in schools in Iceland.
• Stelpur og tækni (Girls and Technology)flagshipStrategic or Co-development PartnerRB has participated in the project 'Stelpur og tækni' (Girls and Technology) from the outset, supporting girls' engagement with technology and programming.
• FKAminorStrategic or Co-development PartnerRB has been a supporter of FKA (Icelandic women entrepreneurs association), supporting gender equality in business.
• VertonetminorStrategic or Co-development PartnerRB has supported Vertonet, a network supporting women in technology.
• Systur (Sisters) at Reykjavik UniversityminorStrategic or Co-development PartnerRB supports the student association Systur (Sisters) at Reykjavik University, promoting female participation in technology studies.
• ADA Association at University of IcelandminorStrategic or Co-development PartnerRB supports the ADA association at the University of Iceland, promoting gender diversity in technology.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• FIS: Global financial technology provider offering core banking, payments, and capital markets infrastructure — a broad incumbent offering overlapping capabilities to RB's deposit, payment, and interbank systems, but at much larger international scale.
• Capgemini: Global IT services and consulting firm with a large financial services practice covering core banking modernization, payments, and BPO — comparable as a provider of banking operations and shared services to financial institutions.
• Jack Henry & Associates: US provider of core banking, payment processing, and technology solutions to community and regional banks — comparable as a banking infrastructure vendor serving a defined domestic customer base, though at much larger scale.
• Fiserv: Major US-headquartered financial technology provider offering core processing, payments, and banking software — a broad incumbent whose banking infrastructure portfolio overlaps with RB's deposit and payment solutions, though globally scaled.
• Temenos: Swiss-based global provider of core banking software serving banks in over 150 countries — comparable as a competing core banking platform, though operating at much larger scale and internationally rather than as a domestic infrastructure operator.
• CGI Group: Canadian-headquartered IT consulting and systems integration firm with deep Nordic and UK banking infrastructure engagements — comparable as a provider of outsourced IT and banking systems services to financial institutions.

Direct peers

• Bankdata: Danish banking IT provider jointly owned by major Danish banks, offering core banking and payment infrastructure — comparable as a Nordic shared services cooperative serving a small domestic banking market.
• SDC (Skandinavisk Data Center): Danish banking IT cooperative owned by its member banks, providing core banking, payment processing, and securities infrastructure — closely comparable as a bank-owned national shared services platform analogous to RB's structure.
• TietoEvry: Largest Nordic IT services and banking software provider, serving banks across the Nordics with core banking, payments, and card processing solutions — directly comparable as a regional banking infrastructure operator to RB's Icelandic role.

Regional players

• Nets (Worldline): Nordic payment processor now part of Worldline, providing card processing, instant payments, and interbank clearing across the Nordics — directly comparable to RB's payment and interbank services, though serving multiple Nordic countries rather than just Iceland.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/www.rb.is
• LinkedInlinkedin.com/company/reiknistofa-bankanna-rb
• Xx.com/bankannarb

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Reiknistofa Bankanna