Morrow Bank
Morrow Bank is a Nordic digital bank, licensed in Sweden since 2014 and operating in Norway, that offers Norwegian consumers a Mastercard credit card, unsecured personal loans (10,000–500,000 NOK), refinancing, and a 4.40% savings account via mobile-first and Open Banking channels.
- Company typePrivate
- Founded2014
- HeadquartersLysaker, Norway
- Headcount51–100
- GTM typeB2C
- OfferingServices
What Morrow Bank does
Morrow Bank AB is a Nordic digital bank founded in 2014, licensed by Sweden's Finansinspektionen and operating in Norway through a registered branch (Morrow Bank AB NUF, Org.nr 936300049), with its registered office in Stockholm and operational office in Lysaker, Norway. The bank serves Norwegian individual consumers with a direct-to-consumer, mobile-first product portfolio anchored on a Mastercard credit card, unsecured personal loans (10,000–500,000 NOK), debt refinancing, and a high-yield savings account (4.40%) backed by the Norwegian deposit guarantee up to 2,000,000 NOK. The platform is delivered through a web portal (morrowbank.no), a self-serve app (my.morrowbank.no) authenticated by BankID, and a mobile banking app on iOS and Android, with payment functionality extended into Apple Pay, Google Pay, Samsung Pay, Garmin Pay, and Vipps (including cross-border transfers to Sweden, Denmark, and Finland).
The product set is wrapped with insurance value-adds: travel and cancellation insurance (transitioning from Gouda to Zurich effective 1 March 2026), purchase protection (up to 25,000 NOK per claim), payment protection insurance underwritten by BNP Paribas Cardif, and Mastercard ID Theft Protection. The bank also operates PSD2-compliant Open Banking APIs delivered in partnership with Crosskey (with Neonomics as AISP/PIS provider), exposing account information, payment initiation, and funds confirmation services to authorized third-party providers. Distribution combines owned digital channels (website, app, SEO, content marketing) with a broker/agent network comprising at least ten Norwegian loan comparison and brokerage partners (Axo Finans, Lendo, Zensum, Zmarta, Sambla, Scoopr, Uno Finans, Tjenestetorget Finans, Horde, Motty Telefinans), and a loyalty layer via the Morrow More and More Experience programs. AI/ML is applied to fraud detection, credit risk scorecards, and fully automated credit decisions.
Morrow Bank generates revenue primarily from interest income on personal loans (10.75%–17.50% nominal rates, plus 899–1,999 NOK establishment fees and 35 NOK/month term fees) and credit card revolving balances, supplemented by payment deferral fees (249–449 NOK), insurance pass-through premiums (0.25%–0.9% of outstanding balance), and ancillary fees such as manual processing charges. Pricing is individualized based on credit assessment; the savings account pays a competitive 4.40% to attract sticky retail funding. The company is privately held with no disclosed parent, investors, funding rounds, executive team, or financial figures, and it does not disclose a headcount.
Morrow Bank firmographics
Firmographics- Name
- Morrow Bank
- Legal name
- Morrow Bank AB
- Website
- https://morrowbank.no
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Morrow Bank is a Nordic digital bank, licensed in Sweden since 2014 and operating in Norway, that offers Norwegian consumers a Mastercard credit card, unsecured personal loans (10,000–500,000 NOK), refinancing, and a 4.40% savings account via mobile-first and Open Banking channels.
- Ownership category
- akta.pro rank
Morrow Bank industry classification
Industry- Product category
- Consumer Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180), Credit Card Issuing (52221)
- SIC
- Savings Institutions, Not Federally Chartered (6036)
- akta.pro primary industry
- Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts) (FSAGAAAC)
Keywords
Where Morrow Bank is headquartered
LocationHeadquarters
- HQ city
- Lysaker
- HQ country
- Norway
- HQ region
- Europe
Offices2 records
Markets served
Morrow Bank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Interest Income - Personal Loans: Interest charged on outstanding personal loan balances. Loans range from 10,000 to 500,000 NOK with individual interest rates based on credit assessment. This is the primary revenue driver.
- Interest Income - Credit Cards: Interest charged on outstanding credit card balances. Customers receive up to 50 days interest-free credit when paying full balance. Interest applies from day one for cash withdrawals and if full balance is not paid.
- Payment Deferral Fees: Fees charged for payment deferral options on credit card purchases. 3-month deferral costs 249 NOK, 6-month costs 329 NOK, 9-month costs 449 NOK.
- Payment Protection Insurance: Insurance premiums passed through to BNP Paribas Cardif for loan payment protection (0.25% of outstanding balance) and credit card payment protection (0.9% of outstanding balance).
- Loan Fees: One-time fees including establishment fees (899-1,999 NOK for loans), term fees (35 NOK/month), and manual processing fees (200-450 NOK).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal loans from 10,000 to 500,000 NOK with individual pricing |
| Subscription | Monthly | Mastercard credit card with up to 100,000 NOK credit limit |
| Usage-based | Monthly | Payment protection insurance for loans |
| Usage-based | Monthly | Payment protection insurance for credit cards |
| Unit Pricing | One time/ perpetual license | Payment deferral for credit card purchases |
| Subscription | Monthly | Savings account with 4.40% interest rate |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
Morrow Bank product offering
Product offeringCore offering
Morrow Bank is a Nordic digital bank offering unsecured personal loans (10,000-500,000 NOK), a Mastercard credit card, refinancing services, and high-yield savings accounts to Norwegian consumers. Products are distributed through self-service digital channels (website and mobile app) with BankID-based authentication, and bundled insurance offerings including travel, purchase protection, and payment protection insurance are delivered through partners such as BNP Paribas Cardif and Zurich/Gouda.
Product overview
Morrow Bank is a Nordic digital bank offering a unified platform of financial products centered around credit, lending, and savings. The core portfolio consists of: (1) Kredittkort - a Mastercard credit card serving as the primary payment product with bundled insurance (travel, purchase protection, ID theft protection), digital wallet integration (Apple Pay, Google Pay, Samsung Pay, Garmin Pay, Vipps), and the Morrow More Experience rewards program; (2) Forbrukslån/Smålån - unsecured personal loans from 10,000 to 500,000 NOK for various purposes including refinancing and unexpected expenses; (3) Sparekonto/Bufferkonto - high-yield savings accounts with 4.40% interest and Norwegian deposit protection up to 2,000,000 NOK; (4) Forsikring - supplementary insurance products including travel/cancellation insurance, purchase protection, and payment protection provided by BNP Paribas Cardif and Zurich/Gouda. The bank also provides a Mobile Banking App, Open Banking API through Crosskey for PSD2 compliance, and Open Banking services enabling third-party integrations.
Differentiator
Problem solved
Functional benefit
Brands
- Morrow More: Loyalty and rewards program for Morrow Bank customers offering exclusive benefits, discounts, and experiences.
- More Experience
Products and services
- Mastercard Credit Card (Kredittkort) Mastercard credit card with credit limit up to 100,000 NOK, up to 50 days interest-free credit, bundled travel and cancellation insurance (up to 90 days), purchase protection, Mastercard ID Theft Protection, and access to the Morrow More Experience loyalty program. Card can be used at over 34 million merchants worldwide and supports digital wallets including Apple Pay, Google Pay, Samsung Pay, Garmin Pay, and Vipps.
- Unsecured Personal Loan (Forbrukslån) Unsecured personal loans ranging from 10,000 to 500,000 NOK without collateral requirements. Repayment terms up to 5 years with individual interest rates (10.75%-17.50% nominal) based on credit assessment. Establishment fee: 899-1,999 NOK. Term fee: 35 NOK/month. Optional payment protection insurance available.
- Refinancing (Refinansiering) Debt consolidation service that combines multiple existing debts into a single loan with potentially lower interest rates and simplified repayment management for Norwegian consumers.
- Savings Account (Sparekonto) High-yield savings account offering 4.40% interest rate from the first krone deposited. No binding period, unlimited withdrawals, fee-free, with deposit guarantee up to 2,000,000 NOK under Norwegian deposit guarantee scheme.
- Emergency Fund Account (Bufferkonto) Emergency savings account designed to help customers build a financial buffer for unexpected expenses, with the same features as the Sparekonto including 4.40% interest rate, no binding period, unlimited withdrawals, and deposit guarantee up to 2,000,000 NOK.
- Open Banking API PSD2-compliant Open Banking APIs provided through Crosskey collaboration, enabling authorized third-party providers (AISPs, PISPs) to access account information, initiate payments, and verify funds availability across credit card, loan, and deposit accounts. Includes up to 90 days of transaction history. Sandbox/developer portal available at crosskey.io/stores/morrowbank/apis.
Quantifiable outcome
- Travel insurance covers cardholder and family for trips up to 90 days
- +2 more outcomes
Companies that use Morrow Bank
Customer profileSegments2 records
Ideal customer profiles2 records
Morrow Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration16 records
AI capability5 records
Feature4 records
Morrow Bank partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core and minor.
- BNP Paribas CardifcoreInsurance partner providing payment protection insurance for loans and credit cards. Handles claims processing for work unemployment, sickness, critical illness, and death coverage. Contact: [email protected] or 23 23 75 00.
- Zurich Insurance Europe AG (Norway Branch NUF)coreTravel and cancellation insurance provider for credit card holders. Zurich covers claims from March 1, 2026 onwards. Provides travel insurance with coverage up to 90 days for cardholder and family.
- Gouda ReiseforsikringcoreTravel insurance provider covering credit card claims until February 28, 2026. Handles travel and cancellation insurance claims. Contact: [email protected] or 24 14 45 70.
- Axo Finans ASminorNorwegian financial agent/broker referring loan customers to Morrow Bank. Contact: [email protected] or 22 86 74 00. Located at Fridjof Nansens plass 7, Oslo.
- Lendo ASminorNorwegian loan comparison and brokerage service referring customers to Morrow Bank. Contact: [email protected] or 22 00 70 70. Located at Hagegata 22, Oslo.
- ZensumminorNorwegian financial service broker referring loan customers to Morrow Bank. Contact: [email protected] or 23 96 52 00. Located at Skippergata 9, Oslo.
- Zmarta ASminorNorwegian loan and refinancing broker referring customers to Morrow Bank. Contact: [email protected] or 23 96 70 00. Located at Filipstad brygge 1, Oslo.
- Sambla Group ASminorNorwegian loan refinancing broker referring customers to Morrow Bank. Contact: [email protected] or 33 22 89 70. Located at Biskop Gunnerus' gate 14A, Oslo.
- Scoopr Refinansiering ASminorNorwegian refinancing broker referring customers to Morrow Bank. Contact: [email protected] or 41 80 00 00. Located at Karenslyst allé 2, Oslo.
- Uno Finans ASminorNorwegian financial broker referring loan customers to Morrow Bank. Contact: [email protected] or 40 00 51 60. Located at Tollbugata 11, Oslo.
- Tjenestetorget Finans ASminorNorwegian financial service broker referring customers to Morrow Bank. Contact: [email protected] or 95 16 06 65. Located at Billingstadsletta 17, Billingstad.
- Horde ASminorNorwegian financial agent/broker referring customers to Morrow Bank. Contact: [email protected]. Located at Lars Hilles gate 20A, Bergen.
- Motty Telefinans ASminorNorwegian financial broker referring loan customers to Morrow Bank. Contact: [email protected] or 69 36 06 66. Located at Storgata 3, Fredrikstad.
- CrosskeycoreTechnology partner providing Open Banking API infrastructure. Developer portal and sandbox available at crosskey.io/stores/morrowbank/apis. APIs based on Open Banking UK standards, compliant with PSD2 legislation for account information services (AISP) and payment initiation services (PISP).
Scale indicators2 records
Recent moves6 records
Expansion highlights6 records
Morrow Bank competitors and assessment
Company assessmentBroad incumbents
- Klarna: Swedish-founded BNPL and consumer credit fintech with banking license and broad merchant network. Competes in Nordic consumer credit via installment products at point of sale, adjacent to Morrow's personal loan business.
- Nordea: Pan-Nordic universal bank with consumer lending, cards, and savings products across Norway, Sweden, Denmark, and Finland. Includes Nordea Direkte (formerly Bank Norwegian) as a direct digital consumer credit offering.
- DNB: Norway's largest financial services group with full retail, corporate, and capital markets offerings. Competes with Morrow Bank in Norwegian consumer credit, deposits, and cards, but on a much broader scale.
Direct peers
- Instabank: Norwegian digital consumer bank offering personal loans, refinancing, and savings products. Closely comparable to Morrow Bank in product mix, single-market Norwegian focus, and digital-only delivery.
- Svea Bank: Nordic financial group providing consumer finance, invoice factoring, and lending services. Overlapping in Nordic consumer credit and small-business lending adjacencies.
- Resurs Bank: Nordic niche bank under Resurs Holding specializing in consumer credit, retail finance, and savings. Comparable in cross-Nordic consumer lending footprint and digital distribution strategy.
- Nordax Bank (NOBA Group): Swedish specialist personal loan bank serving Nordic and European customers. Comparable unsecured personal loan product and direct-to-consumer digital acquisition model.
- TF Bank: Swedish-licensed digital consumer bank with personal loans, credit cards, and savings across the Nordics and selected EU markets. Similar regulated digital bank operating model and product suite.
Emerging players
- Anyfin: Stockholm-based refinancing fintech using open banking data to refinance consumer debt at lower rates. Direct overlap with Morrow Bank's refinancing segment and reliance on Nordic open banking rails.
- Northmill: Swedish neobank offering consumer credit, savings, and cards through a mobile-first experience. Direct overlap in digital banking proposition and Nordic consumer lending focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Morrow Bank social profiles
Digital presenceMorrow Bank compliance and trust
Trust signalCompliance2 records
Morrow Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Morrow Bank leadership team
Management profileNumber of profiles
Morrow Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Morrow Bank M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Morrow Bank
What does Morrow Bank do?
Morrow Bank is a Nordic digital bank offering unsecured personal loans (10,000-500,000 NOK), a Mastercard credit card, refinancing services, and high-yield savings accounts to Norwegian consumers. Products are distributed through self-service digital channels (website and mobile app) with BankID-based authentication, and bundled insurance offerings including travel, purchase protection, and payment protection insurance are delivered through partners such as BNP Paribas Cardif and Zurich/Gouda.
Is Morrow Bank a public or private company?
Morrow Bank is a private company. It is classified as unknown and is currently operating.
When was Morrow Bank founded?
Morrow Bank was founded in 2014. It employs 51 to 100 people.
Where is Morrow Bank based?
Morrow Bank is headquartered in Lysaker, Norway, in the Europe region.
How does Morrow Bank make money?
Five revenue lines are on record. Interest Income - Personal Loans are the primary driver. The others are interest Income - Credit Cards, payment Deferral Fees, payment Protection Insurance and loan Fees.
Who are Morrow Bank's main competitors?
Broad incumbents on record are Klarna, Nordea and DNB. Direct peers are Instabank, Svea Bank, Resurs Bank, Nordax Bank (NOBA Group) and TF Bank. Emerging players are Anyfin and Northmill.
Does Morrow Bank have an API?
Yes. Morrow Bank offers Open Banking APIs through a collaboration with Crosskey, enabling PSD2-compliant services. APIs include: (1) Account Information APIs - allowing customers to access information on credit card, loan and deposit accounts, including account balance and up to 90 days of transaction history; (2) Payment Initiation APIs - enabling payments from credit card, loan and deposit accounts through third-party interfaces; (3) Funds Confirmation API - allowing third-party providers to verify sufficient funds availability. The APIs are based on Open Banking standard. TPPs must register with their national competent authority (e.g., Finanstilsynet in Norway) and obtain technical certificates (QWAC and QCSeal) from qualified trust service providers (QTSPs). New API versions are added regularly with at least three months notice before retirement. Sandbox/developer portal available at crosskey.io/stores/morrowbank/apis. Developer documentation is at crosskey.io/stores/morrowbank/apis.
What industry is Morrow Bank in?
Morrow Bank's product category is Consumer Banking. Its primary akta.pro industry code is FSAGAAAC, Core Banking & Ledger Systems (Cloud Core, Deposits, Accounts). Its NAICS code is 522180 and its SIC code is 6036.