NRD Companies

What NRD Companies does

NRD Companies (Norway Registers Development AS) is a Norway-headquartered IT and consulting group founded in 1995 that delivers governance and economic digital infrastructure to governments, tax authorities, banks, payment institutions, retailers, and postal operators. The company operates a portfolio of 17+ proprietary GovTech and FinTech platforms organized into five pillars: E-Registers and E-Services (URP©, BUSREG©, BOREG©, CRVS©, SOCREG©, SECREG©, LIREG©, VFDMS©, REGSUP©), E-Portals (GxP©, UCXP©), Financial Solutions (BANKTRON® Daily Banking, BANKTRON® Open Banking, Digital Loans©), Retail Solutions (KASU Retail©, KASU Post©), and Frameworks (GovTech Innovation Accelerator©, Digital ID). Core technical architecture emphasizes modular, interoperable platforms designed for deployment in highly regulated and complex public-sector environments, with documented integrations into systems such as ASYCUDA, TaxRIS, PSRM, and Finlink payment gateway.

NRD Companies operates a hybrid revenue model combining one-time product licensing and deployment fees, ongoing professional services and consultancy, and Extended Technical Teams (Team-as-a-Service) embedded in client organizations. Pricing is project-based and quote-driven, determined by scope, customization, users, geography, and complexity, with no public rate cards. Go-to-market relies on direct enterprise field sales targeting ministries, tax authorities, and financial institutions, supplemented by active participation in industry forums (CRF, WATAF, WSIS) and partnerships with multilateral development banks (World Bank, African Development Bank) and the EU Recovery and Resilience Facility, which frequently co-fund project procurement. The company has delivered 350+ projects to 150+ customers across 60+ countries over 30+ years, and is a portfolio company of UTIB INVL Technology, publicly listed on Nasdaq Vilnius.

Name

NRD Companies

Legal name

Norway Registers Development AS

Website

https://nrdcompanies.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

101–250 employees

Short description

NRD Companies is a Norway-based IT and consulting firm that delivers proprietary GovTech and FinTech platforms — including e-registry, e-invoicing, and digital banking solutions — to governments, tax authorities, banks, and postal operators across 60+ countries.

Ownership category

akta.pro rank

Headquarters

HQ city

Sandvika

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Product Licensing and Deployment: NRD Companies licenses its proprietary platforms (URP©, BANKTRON®, VFDMS©, BUSREG©, CRVS©, and others) to government agencies, banks, and public institutions. Each deployment is customized and implemented per country requirements. Revenue is generated through initial deployment fees and ongoing licensing.
2. Professional Services and Consultancy: The company provides practice-based advisory and consulting services including digitalization of public services, development of business/civil registers, digital ID, digital signature, digital transformation assessments, audits/roadmaps, and strategies. Services are delivered alongside product implementation and as standalone engagements.
3. Extended Technical Teams (Team-as-a-Service): NRD Companies provides extended technical teams that work as embedded partners within client organizations, supporting ongoing digital transformation projects, system maintenance, and further development.
4. Digital Infrastructure Project Delivery: The company implements multi-country digital infrastructure projects, with revenue tied to project milestones and contractual agreements with government clients, often co-funded by international financial institutions.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

NRD Companies designs, develops, licenses, and deploys proprietary GovTech and FinTech platforms for governments, tax authorities, banks, payment institutions, retailers, and post offices. Its offerings span unified registry platforms (URP©), specialized registers (BUSREG©, BOREG©, CRVS©, SECREG©, SOCREG©, LIREG©, REGSUP©), e-invoicing/fiscalization (VFDMS©), digital banking (BANKTRON® with Daily Banking, Open Banking, Digital Loans©), e-service portals (GxP©, UCXP©), retail and postal automation (KASU Retail©, KASU Post©), and frameworks (GovTech Innovation Accelerator©, Digital ID). The company also delivers practice-based consultancy and Extended Technical Teams (Team-as-a-Service) alongside product implementation.

Product overview

NRD Companies is a global IT and consulting group specializing in governance and economic digital infrastructure development. The portfolio operates as a platform-plus-modules architecture centered on five pillars: E-Registers and E-Services, E-Portals, Financial Solutions, Retail Solutions, and Frameworks. The core E-Registers pillar includes URP© as the unified registry platform, supported by specialized registries (BUSREG©, BOREG©, CRVS©, SOCREG©, SECREG©, LIREG©) and REGSUP© for regulatory oversight, plus VFDMS© for e-invoicing and fiscalization. The E-Portals pillar features GxP© and UCXP© for customer-facing digital services. The Financial Solutions pillar centers on BANKTRON® as the flagship digital banking platform with Daily Banking, Open Banking, and Digital Loans© modules. Retail Solutions include KASU Retail© and KASU Post© for omnichannel retail and postal operations. The GovTech Innovation Accelerator© and Digital ID frameworks support government innovation and civil identity transformation. Consultancy and Extended Technical Teams services complement the product portfolio. The company supports organizations in over 60 countries with 150+ customers and 350+ projects delivered over 30+ years.

Differentiator

Problem solved

Functional benefit

Brands

• URP©: An integrated platform for building advanced registry solutions.
• REGSUP©
• BOREG©
• BUSREG©
• CRVS©
• SOCREG©
• SECREG©
• LIREG©
• VFDMS©
• GxP©
• UCXP©
• BANKTRON®
• Digital Loans©
• KASU Retail©
• KASU Post©
• GovTech Innovation Accelerator©
• Digital ID

Products and services

• URP© – Unified Registry Platform An out-of-the-box integrated platform for building advanced registry solutions. Enables Registration Agencies to become Centres of Registries with continuous development. For government registration agencies and ministries.
• BUSREG© – Business Registry A modern web-based platform where businesses and government meet for customer-centric business registration. For business registration agencies and ministries.
• BOREG© – Beneficial Ownership Register A tool for collecting, processing, storing, and publishing adequate, accurate, and timely data about the beneficial owners of businesses. For regulators and AML compliance authorities.
• CRVS© – Civil Registration and Vital Statistics System A civil registration system that protects human rights, provides unique identity and proof of existence. For civil registration authorities and vital statistics offices.
• SOCREG© – Social Register Centralized digital system for efficient, inclusive social protection program management. For social protection agencies and ministries.
• SECREG© – Secured Transactions Register A tool dedicated to receiving, storing, and making accessible to the public information in registered notices with respect to security rights in movable assets. For collateral and secured transactions registries.
• LIREG© – Business Licensing Solution A compilation of online registration services allowing applicants to apply, pay and receive a license online. For licensing authorities and municipalities.
• REGSUP© – Regulatory and Supervision Solution A regulatory and supervision solution for government oversight functions. For financial regulators and supervisory authorities.
• VFDMS© – Virtual Fiscal Device Management System E-Invoicing solution that helps Tax Authorities enhance domestic resource mobilization by modernizing digital infrastructure and improving tax compliance. Supports real-time transaction monitoring and continuous transaction controls. For tax authorities.
• GxP© – Customer Centric e-Service Delivery Platform An omnichannel solution allowing the building of processes supportive of multiple channels within a single process or in separate processes for public industry. For government agencies and public service providers.
• UCXP© – Utility Customer Experience Platform Secure digital self-service for utility customers. For utility companies and their end customers.
• BANKTRON® Digital Banking Engagement Platform An award-winning secure and intuitive digital banking platform that fits into composable banking architecture. Supports retail, business, and private banking. For banks and financial institutions.
• BANKTRON® Daily Banking One platform serving retail, business, and private banking solutions. For banks.
• BANKTRON® Open Banking A platform providing a robust set of APIs and management tools to comply with PSD2 regulations. For banks and fintech partners.
• Digital Loans© A platform used by banks for increasing their loan portfolio in a shorter time and keeping related costs under control. For banks and lending institutions.
• KASU Retail© An omnichannel solution to manage and accelerate retail business. Nimble, robust, tamper-proof and high-performing. For retailers.
• KASU Post© A counter automation solution for post offices, allowing access to a variety of postal services, items, and partner services from a single simple user interface. For postal operators.
• GovTech Innovation Accelerator© A framework helping governments establish GovTech Labs to drive digital innovation and foster public-private collaboration. For governments and innovation agencies.
• Digital ID Transforms civil records into secure credentials for digital services and identity. For civil registration authorities and government identity programs.
• Consultancy Services Practice-based advisory and consulting services covering digitalization of public services, development of registers, Digital ID, Digital Signature, Digital Payments, digital transformation assessments, audits, roadmaps, and strategies. For governments and financial institutions.
• Extended Technical Teams (Team-as-a-Service) Team-as-a-service offering providing extended technical teams for critical systems support, working as embedded partners within client organizations. For governments, banks, and large institutions.

Quantifiable outcome

• Studies in Zanzibar showed approximately 20% monthly revenue increase after implementing VFDMS electronic fiscalization, replacing manual tax collection.
• +4 more outcomes

Named customers15 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature17 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Customs Department under the Ministry of Finance, LithuaniacoreImplementation/ SI/ Consulting Partner · 1 January 2026NRD Companies partnered with the Lithuanian Customs Department to develop the 'Mano muitinė' portal, a centralized digital platform consolidating customs services for citizens, businesses, and public institutions. The project was financed through the EU Recovery and Resilience Facility under 'New Generation Lithuania' plan and co-financed by the Lithuanian state budget.
• ICON Corporate FinanceminorStrategic or Co-development Partner · 1 January 2025INVL Technology (NRD Companies' parent) plans to divest some portfolio businesses in partnership with ICON Corporate Finance, which serves as a financial advisory partner for the divestiture process.
• Revenue Services Lesotho (RSL)coreImplementation/ SI/ Consulting Partner · 1 March 2024NRD Companies partnered with Revenue Services Lesotho to develop and implement a VAT compliance e-Invoicing solution (named 'Lekuka') based on the VFDMS© platform. The project includes system development, integration with existing tax systems (PSRM, ASYCUDA), advisory services on legal frameworks, business process reengineering, and change management support. Funded by the African Development Bank.
• SollocoreStrategic or Co-development PartnerNRD Companies partnered with Sollo (a licensed electronic payments operator in Lithuania) to design and develop a centralized POS-based payments authorization platform. NRD Companies was responsible for custom design and development, with the platform now fully deployed supporting over 700 utility and service providers nationwide. NRD Companies continues to provide ongoing system support and further development.
• Ministry of Industry and Commerce, Lao PDRcoreImplementation/ SI/ Consulting PartnerNRD Companies partnered with the Lao PDR Ministry of Industry and Commerce to design and implement the Electronic Business Registration System (eBRS) under the World Bank-financed Lao PDR Competitiveness and Trade Project (LCTP). NRD Companies delivered system architecture, development, integration, data migration of over 110,000 records, and nationwide capacity building.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Regnology: Regnology (formerly BearingPoint RegTech) is a leading provider of regulatory, risk, and supervisory technology solutions for financial regulators and financial institutions. It directly competes with NRD Companies' REGSUP© regulatory and supervision platform and broader registry/regtech offerings for government and supervisory bodies.
• OpenGov: OpenGov provides government-focused software for budgeting, permitting, procurement, and civic engagement to state and local governments. It is a direct peer to NRD Companies in government digital transformation, particularly around e-services and public sector workflow modernization.
• Veridos: Veridos is a joint venture of Giesecke+Devrient and Bundesdruckerei providing government identity solutions, including civil registration, passports, and digital ID credentials. It directly competes with NRD Companies' CRVS© Civil Registration and Vital Statistics System and Digital ID offerings.
• Avaloq: Avaloq (now part of NTT Data) provides core banking and digital banking software to private banks and wealth managers. It is a direct peer to NRD Companies' BANKTRON© platform in the composable banking and digital banking engagement space.
• Mambu: Mambu is a cloud-native core banking platform used by challenger and traditional banks globally. It competes directly with NRD Companies' BANKTRON© platform and is also referenced as a banking technology partner/customer logo on the NRD Companies website.
• Granicus: Granicus provides government experience cloud software for digital service delivery, citizen engagement, and workflow automation to public sector agencies. It is a direct peer to NRD Companies in government digital services and citizen-facing e-service platforms.

Broad incumbents

• IDEMIA: IDEMIA is a global leader in identity and security solutions, offering civil registration, digital ID, and government document solutions at much larger scale. It is a broad incumbent in the same digital identity and civil registry space where NRD Companies operates its CRVS© and Digital ID platforms.
• Temenos: Temenos is a major provider of core banking software serving retail, business, and private banks globally. It competes with NRD Companies' BANKTRON© Digital Banking Engagement Platform, though Temenos operates at significantly larger scale and broader scope.
• Mastercard Government & Nonprofit: Mastercard's Government and Nonprofit division delivers digital government services including identity, citizen engagement, and payment disbursement at global scale. It is a broad incumbent competing with NRD Companies across digital ID, government payments, and e-services.

Emerging players

• Fonoa: Fonoa provides tax technology APIs for e-invoicing, VAT, and tax compliance globally. It is an emerging peer to NRD Companies' VFDMS© e-invoicing and fiscalization platform, though Fonoa focuses on API infrastructure while NRD Companies delivers end-to-end government deployments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

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• LinkedInlinkedin.com/company/nrd-companies-no

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about NRD Companies