Eika
- Company typePrivate
- Founded1997
- HeadquartersGjøvik, Norway
- Headcount501–1,000
- GTM typeB2B
- OfferingServices
Eika firmographics
Firmographics- Name
- Eika
- Legal name
- Eika Gruppen AS
- Website
- https://eika.no
- Company type
- Private
- Founded year
- 1997
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Ownership category
- akta.pro rank
Eika industry classification
Industry- Product category
- Cooperative Banking Services
- NAICS
- Finance and Insurance (52), Depository Credit Intermediation (5221), Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910)
- SIC
- Finance Services (6199), Investment Advice (6282), Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Managed Accounts & Model Portfolios (SMA/UMA) (FSAAAAAG)
- akta.pro secondary industries
- Account & Balance Services (Operating accounts, statements, eBAM) (FSABAIAD), Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI), ESG Integration / Responsible Investment Funds (Broad ESG) (FSANAJAL)
Keywords
Where Eika is headquartered
LocationHeadquarters
- HQ city
- Gjøvik
- HQ country
- Norway
- HQ region
- Europe
Offices1 record
Markets served
Eika business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Member Bank Fees and Contributions: Eika generates revenue through fees and contributions from its 41 member banks. Member banks pay for access to shared solutions, technology infrastructure, and collective bargaining power.
- Shared Financial Services: Revenue from shared services including Eika boligkreditt (mortgage lending), Eika kapitalforvaltning (asset management), and Kredittbanken (consumer credit) distributed through member banks.
- Insurance Distribution: Fremtind forsikring (insurance company) is part of the Eika alliance, generating revenue through insurance products sold to customers of member banks.
- Real Estate Services: Aktiv eiendomsmegling (real estate agency) operates within the Eika alliance, providing real estate services to customers of member banks.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard Mortgage (Boliglån) |
| Subscription | Monthly | Green Mortgage (Grønt boliglån) |
| Subscription | Monthly | Young Customer Mortgage (BLU / Boliglån for unge) |
| Subscription | Monthly | Flexible Credit / Frame Loan (Rammelån / Flexilån) |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Eika product offering
Product offeringCore offering
Eika is a Norwegian banking alliance of 41 independent savings banks. Eika Gruppen AS delivers shared digital banking infrastructure, mortgage lending solutions, capital management, insurance, real estate brokerage, and credit banking products to its member banks, which in turn serve retail and SME customers across Norway. Core offerings include the Eika Digitalbank (Penni) platform, Eika Boligkreditt housing credit, Eika Kapitalforvaltning investment management, Aktiv Eiendomsmegling real estate services, Fremtind Forsikring insurance, Kredittbanken consumer credit, and Eika Økonomi finance management.
Product overview
Eika is a Norwegian banking alliance of 41 independent banks operating under a platform-plus-subsidiaries model. The alliance provides shared infrastructure, products, and services that member banks could not efficiently develop individually, while allowing each bank to maintain local autonomy and customer relationships. The subsidiary ecosystem includes Eika Digitalbank (digital banking platform), Eika Boligkreditt (housing credit), Eika Kapitalforvaltning (investment management), Aktiv Eiendomsmegling (real estate brokerage), Fremtind Forsikring (insurance), Kredittbanken (credit bank), and Eika Økonomi (finance services). Member banks offer consumer-facing products including home loans (boliglån) with various types such as young person's mortgages, green mortgages, and flexible credit options.
Differentiator
Problem solved
Functional benefit
Brands
- Penni: Digital banking app and services provided by Eika digitalbank
Products and services
- Aktiv Eiendomsmegling Real estate brokerage service operating as part of the Eika alliance, enabling member banks to offer property transaction services to customers purchasing or selling homes in Norway.
- Eika Boligkreditt Housing credit subsidiary providing residential mortgage financing solutions to retail customers through the Eika member bank network across Norway.
- Eika Digitalbank (Penni) Digital banking platform offering online and mobile banking services under the Penni brand, providing digital account access and payment services through the Eika member banks and directly to consumers.
- Eika Kapitalforvaltning Capital management and investment services subsidiary offering fund management with ethical investment guidelines and monthly updated portfolio disclosures, serving retail and institutional customers through the alliance.
- Eika Økonomi Finance and financial management services offered through the Eika alliance, providing personal finance tools and advisory through member banks.
- Fremtind Forsikring Insurance company within the Eika alliance, distributing home, travel, car, and accident insurance products to retail customers through Eika member banks.
- Kredittbanken Credit bank subsidiary operating within the Eika alliance, providing consumer and SME credit products distributed through member banks.
- Boliglån (Home Loans) Mortgage and home loan products offered through local Eika member banks, including digital application processing, personal advisory services, loan calculators, and specialized variants such as BLU (young person's mortgage), green mortgages, flexilån (flexible credit), refinancing, and construction loans.
- Eika Alliance Membership Norwegian banking alliance comprising 41 independent savings banks that collaborate on shared solutions, technology, products, and services while maintaining local autonomy. Member banks gain shared product development, technology infrastructure, and economies of scale while preserving local decision-making and customer relationships.
Quantifiable outcome
- 91/100 overall satisfaction with Eika collaboration - highest ever measured
- +5 more outcomes
Companies that use Eika
Customer profileNamed customers10 records
Segments3 records
Ideal customer profiles3 records
Eika technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Eika partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- Norwegian Data Protection Authority (Datatilsynet)coreEika participated in joint regulatory sandbox projects with the Norwegian Data Protection Authority and Financial Supervisory Authority of Norway, exploring legal frameworks for data sharing to combat economic crime. Projects examined payment fraud, insurance fraud, BankID usage, and anti-money laundering data sharing.
- Financial Supervisory Authority of Norway (Finanstilsynet)coreJoint regulatory sandbox exploring data sharing frameworks. The authorities found greater scope for data sharing within existing regulatory framework than previously utilized by the industry.
- DNBminorDNB participated in the regulatory sandbox project on data sharing for anti-economic crime initiatives alongside Eika and other financial institutions.
- NordeaminorNordea participated in the regulatory sandbox project on data sharing for anti-economic crime initiatives alongside Eika and other financial institutions.
- SpareBank 1minorSpareBank 1 alliance participated in the regulatory sandbox project on data sharing for anti-economic crime initiatives alongside Eika and other financial institutions.
- Fremtind ForsikringcoreFremtind Forsikring is part of the Eika alliance, providing insurance products (home insurance, travel insurance, car insurance, accident insurance) through member banks to their customers.
- Aktiv EiendomsmeglingcoreAktiv is the real estate agency within the Eika alliance, providing property sales services integrated with member banks' mortgage offerings.
- BankIDcoreBankID is used for secure authentication across Eika digital services and member bank online banking. Mentioned in context of regulatory sandbox exploring BankID usage data sharing.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
Eika competitors and assessment
Company assessmentDirect peers
- SpareBank 1 Alliance: SpareBank 1 is the other major Norwegian banking alliance of independent savings banks, sharing technology, products, and back-office services. It is Eika's most direct structural peer, competing for the same pool of independent Norwegian savings banks and end customers through shared infrastructure and member distribution.
- OBOS BBL: OBOS is a large Norwegian cooperative providing banking (OBOS Banken), real estate brokerage, and member services to a shared member base. Like Eika, OBOS combines financial services, real estate, and cooperative ownership under one platform serving Norwegian households.
Broad incumbents
- DNB: DNB is Norway's largest financial services group, offering retail banking, mortgages, insurance, asset management, and real estate brokerage. DNB is explicitly named in Eika's value proposition as the large national competitor that Eika's 41 member banks collectively compete against.
- Nordea: Nordea is one of the largest Nordic banks with full retail, mortgage, and asset management operations in Norway. Nordea is cited as a direct competitor to Eika member banks and also partnered with Eika in the joint regulatory sandbox on data sharing.
- Storebrand: Storebrand is a leading Norwegian financial group providing banking, insurance, pensions, and asset management. Storebrand overlaps with Eika Kapitalforvaltning and Fremtind on asset management and insurance, serving as a benchmark for how a Norwegian integrated financial services provider scales these businesses.
- Gjensidige Forsikring: Gjensidige is Norway's largest general insurance company, distributing through bank partners, online, and its own network. Fremtind (Eika's insurance subsidiary) directly competes with Gjensidige across home, car, accident, and travel insurance.
Regional players
- Sparebanken Vest: Sparebanken Vest is a large Norwegian savings bank operating mainly on the western coast, providing retail banking, mortgages, and asset management. It illustrates the independent savings-bank model that Eika's alliance structure is designed to preserve at smaller scale.
- Sparebanken Sør: Sparebanken Sør is an independent Norwegian savings bank offering retail banking, mortgages, and wealth management. Like Eika member banks, it relies on local relationships in southern Norway but operates independently rather than through a shared alliance platform.
Emerging players
- Nykredit: Nykredit is a Danish financial group anchored in a customer-owned cooperative ownership structure, providing banking, mortgages, and asset management. Its ownership and alliance-like governance model make it a useful structural peer to Eika's member-owned alliance.
Others
- BankID Norge: BankID is the Norwegian shared electronic identification infrastructure operated jointly by Norwegian banks, used by Eika digital services and member bank online banking. Eika is a core integration partner of BankID and participated in regulatory sandbox work on BankID usage data sharing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks7 records
Key highlights7 records
Customer concentration
Eika social profiles
Digital presenceEika compliance and trust
Trust signalCompliance2 records
Eika financial estimates
Financial estimateRevenue estimate
Valuation estimate
Eika leadership team
Management profileNumber of profiles
Profiles6 records
Eika subsidiaries and ownership
Company hierarchySubsidiaries7 records
Eika funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Eika M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Eika
What does Eika do?
Eika is a Norwegian banking alliance of 41 independent savings banks. Eika Gruppen AS delivers shared digital banking infrastructure, mortgage lending solutions, capital management, insurance, real estate brokerage, and credit banking products to its member banks, which in turn serve retail and SME customers across Norway. Core offerings include the Eika Digitalbank (Penni) platform, Eika Boligkreditt housing credit, Eika Kapitalforvaltning investment management, Aktiv Eiendomsmegling real estate services, Fremtind Forsikring insurance, Kredittbanken consumer credit, and Eika Økonomi finance management.
Is Eika a public or private company?
Eika is a private company. It is classified as management employee owned and is currently operating.
When was Eika founded?
Eika was founded in 1997. It employs 501 to 1,000 people.
Where is Eika based?
Eika is headquartered in Gjøvik, Norway, in the Europe region.
How does Eika make money?
Four revenue lines are on record. Member Bank Fees and Contributions are the primary driver. The others are shared Financial Services, insurance Distribution and real Estate Services.
Who are Eika's main competitors?
Direct peers on record are SpareBank 1 Alliance and OBOS BBL. Broad incumbents are DNB, Nordea, Storebrand and Gjensidige Forsikring. Regional players are Sparebanken Vest and Sparebanken Sør. Nykredit is listed as an emerging player. BankID Norge is listed as an others.
Does Eika have an API?
No public API is recorded for Eika.
What industry is Eika in?
Eika's product category is Cooperative Banking Services. Its primary akta.pro industry code is FSAAAAAG, Managed Accounts & Model Portfolios (SMA/UMA), with a secondary code of FSABAIAD, Account & Balance Services (Operating accounts, statements, eBAM). Its NAICS code is 52 and its SIC code is 6199.