MyBank

Name

MyBank

Legal name

Mybank fra Heder Bank ASA

Website

https://mybank.no

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Commercial Banking (52211), Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Small Business Banking (Microbusiness/Sole Proprietor) (FSABAAAI)

akta.pro secondary industries

Direct-to-Consumer (D2C) Personal Lending Platforms (Unsecured Installment) (FSAKAAAK), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Retail banking
• Savings accounts
• Consumer lending
• Digital banking
• Deposit guarantee

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Deposits and Lending: Traditional banking revenue generated through interest rate spreads on savings accounts and lending products. Savings account offers 4.36% nominal / 4.45% effective interest rate on deposits up to 2,000,000 NOK.
2. Banking Service Fees: Fees associated with banking services including account management and transaction processing. Note: The savings account specifically does not allow e-invoice, direct debit (avtalegiro), or standing orders, suggesting fee-based services may be limited.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels1 record

Core offering

MyBank is a Norwegian digital retail bank operating exclusively online. It offers a Sparekonto (savings account) paying 4.36% nominal / 4.45% effective annual interest on deposits up to NOK 2,000,000, Aktive lån (consumer loans) for existing customers, and an Omstartslån (rehabilitation/restart loan) product. Customers access all services via the web-based Nettbank platform and mobile banking application, with BankID authentication and electronic document signing.

Product overview

MyBank fra Heder Bank is a Norwegian digital banking platform offered by Heder Bank ASA, currently undergoing a rebranding to Heder Bank. The service provides a unified digital banking experience through its core offerings: Nettbank (online banking platform), Dokumentsignering (document signing service), Aktive lån (active loan products), Omstartslån (restart/rehabilitation loans), and Sparekonto (savings account). The company is headquartered in Bergen, Norway, and is transitioning its branding from MyBank to Heder Bank, with the new brand information available at hederbank.no.

Differentiator

Problem solved

Functional benefit

Products and services

• Sparekonto (Savings Account) Norwegian savings account paying a 4.36% nominal / 4.45% effective annual interest rate on balances up to NOK 2,000,000, with 0.00% interest above the threshold; e-faktura, avtalegiro, and fast oppdrag not permitted on this account. Targeted at Norwegian consumers and businesses seeking high-yield, fully digital savings.
• Aktive lån (Active Loans) Personal loan products for existing MyBank customers with various terms, payment information (kontonummer and KID), and interest rate conditions. Provides consumer credit to Norwegian individuals.
• Omstartslån (Restart Loan) Rehabilitation / financial restart loan product designed for Norwegian customers seeking to rebuild their financial standing, offered through the online banking platform.
• Online Banking (Nettbank) Web-based online banking platform accessible at nettbank-mybank.sdc.eu, providing 24/7 self-service account management, payments, and access to the bank's savings and loan products for Norwegian consumers, businesses, and non-profit organizations.

Quantifiable outcome

• 4.45% effective annual interest rate on savings deposits up to 2,000,000 NOK
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

One partnership is on record.

• Bankenes sikringsfond (Banks' Security Fund)coreOthersMyBank fra Heder Bank is a mandatory member of Bankenes sikringsfond, Norway's statutory deposit guarantee scheme. This membership provides depositors with guarantee coverage up to 2 million NOK per depositor, including both principal and interest. The scheme covers deposits for private individuals, businesses, associations, clubs, and non-profit organizations. Depositors have access to their funds within 7 working days if the bank faces financial difficulties.

Scale indicators3 records

Recent moves1 record

Expansion highlights4 records

Broad incumbents

• Revolut Ltd: Pan-European digital bank with deposit accounts and consumer credit in a mobile-first model. Comparable on digital-first distribution and retail deposit acquisition; much larger scale and product breadth.
• N26 GmbH: European digital bank offering branchless retail accounts and consumer credit with a pure mobile/web GTM. Comparable on distribution model and target customer; broader geographic footprint.
• DNB Bank ASA: Largest Norwegian incumbent bank offering retail deposits and personal loans via digital and branch channels. Sets the benchmark for deposit guarantee coverage, brand recognition, and product breadth in the same national market.

Direct peers

• Komplett Bank ASA: Norwegian digital bank focused on consumer deposits and personal loans with a branchless delivery model. Direct Norwegian competitor in the same savings-and-personal-loan category.
• Nordax Bank AB (NOBA): Swedish digital consumer lender offering personal loans and deposit funding. Same business model lever of deposit-funded consumer credit, pan-Nordic footprint, and comparable regulatory regime.
• Bank Norwegian (BBVA subsidiary): Norwegian consumer bank originally launched as a direct-to-consumer digital bank, competing on savings rates and personal loans. Directly comparable product set and Norwegian retail-deposit positioning.
• Instabank ASA: Norwegian digital-only consumer bank offering deposits and personal loans exclusively online, with similar D2C GTM. Closest functional analog to MyBank in product mix, scale, and digital-only distribution within Norway.
• Resurs Bank AB: Nordic consumer finance provider offering personal loans and deposit products in a branchless / digital-led format. Comparable on business model (spread-based, D2C unsecured lending) and Nordic geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/mybank-asa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

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 MyBank