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Spense & Goscore selected for Mastercard Lighthouse FINITIV program

15 game-changing fintechs from the Nordics & Baltics have been selected for the 10th edition of the Mastercard Lighthouse FINITIV program in 2023. Among them are Spense and Goscore, both cluster members in NCE Finance Innovation.

Since 2018, Mastercard Lighthouse FINITIV has facilitated collaborations between innovative startups, scaleups, and partner banks. We're excited to see what these fintechs will achieve through this program and have asked them to comment on what lies ahead.

A Norwegian fintech with a global reach

- As the founder of Spense, I am proud to say that we are a Norwegian technology company with a global reach. Our mission is to create exceptional customer experiences for the automotive industry, and we are achieving this by partnering with car dealerships, repair shops, and Dealer Management Systems, says Lisgård.

- Unlike banks and payment providers, Spense serves as an aggregator and integration partner that simplifies the payment process for customers. Instead of managing multiple integrations, our innovative approach enables dealerships to do just one integration with Spense, he continues.

- Our goal is to make payment solutions more accessible and convenient for customers, which is why we incorporate various payment methods favored by customers into a single, user-friendly solution. At Spense, we believe that our approach will revolutionize the industry, and we are committed to continuing to drive innovation and growth in the automotive sector.

How do you think the Mastercard Lighthouse FINITIV program could contribute to growth for Spense?

- The Mastercard Lighthouse FINITIV program presents an excellent opportunity for Spense to grow our business through partner collaboration. As an aggregator, Spense is uniquely positioned to leverage the program's network and resources to expand its reach and customer base. By partnering with various banks and entities, Spense can enhance its services and offer more value to its customers, says Lisgård.

- Spense can benefit greatly by tapping into Mastercard's expertise and knowledge. This can help Spense to develop new products and services that are in line with the latest trends and market demands. Additionally, the program can also help Spense to improve its operational efficiency and reduce costs.

Photo credit: Gunnbjörg Gunnarsdottir // NCE Finance Innovation

- My goal for Spense is to enter into agreements with all partners we meet through Mastercard's network. By doing so, we can create an even more robust ecosystem of partners and stakeholders that can help us to achieve our business objectives. Ultimately, this can help us to grow our business and deliver more value to our customers”, says Lisgård.

Where will Spense be in 3-5 months from now?

- At Spense, we usually like to talk about what we have done, and not what we are going to do. But over the next 3-5 months, we hope to see even more motivated employees who are dedicated to providing excellent service to our customers. We also aim to expand our presence outside the Nordics and reach new markets with our innovative solutions. Through our partnerships and collaborations, we are confident that we can achieve our goals and continue to deliver value to our customers. While we cannot predict the future with certainty, we are excited about the opportunities ahead and look forward to continuing our journey of growth and innovation, finishes Lisgård.

Goscore: Setting the new standard for credit scoring

- Goscore is a financial technology company that leverages current financial data and alternative data sources, such as income stability, spending habits, and payment patterns, to provide a holistic view of consumers, explains Max Gordienok, Founder of Goscore.

- Our team is passionate about financial inclusion, and we achieve this by offering cross-border credit scoring, fair risk profiles, and a portable financial history that moves with customers from country to country. At Goscore, we are committed to bringing transparency and fairness to the financial industry, giving customers great experiences, and setting a new golden standard of fair human credit scoring in the European Union.

- By utilizing partner data, open banking data, and machine learning, we help credit providers identify more responsible borrowers while reducing risk. Our innovative approach is transforming the credit scoring landscape and bringing financial opportunities to individuals who have been traditionally underserved. I am excited about what the future holds for Goscore, and we are committed to continuing our efforts to promote financial inclusion and drive positive change in the industry.

How do you think the Mastercard Lighthouse FINITIV program could contribute to growth for Goscore?

- Mastercard Lighthouse is a specialized program designed to introduce Mastercard and their partners to solutions that are readily implementable in large organizations, promoting innovation. It's no secret that comprehending the procurement process and establishing connections with large corporations can be a challenge, even for other corporations, and can take years to secure a deal. As a result, Lighthouse is even more valuable for banks, financial institutions, and startups seeking to find common ground and establish long-term partnerships, or at the very least, take the first steps in that direction.

Where will Goscore be 3-5 months from now?

- We have identified five use cases where banks and Mastercard would be interested in running a pilot with Goscore. During the program, we will identify specific steps and goals that will be implemented in 2023. We are strong believers in FinTech partnerships and have already found common ground with two other FinTech companies in our class. Together, we will work to prepare these pilots, demonstrating the power of collaboration in the FinTech space.

About the Mastercard Lighthouse Program:
Mastercard Lighthouse is a prominent partnership platform in the Nordics and Baltic region, that differs from traditional accelerators. The main focus is to establish collaborations between startups and large corporations. The program serves as a catalyst for innovation in the fintech industry in this region. The Lighthouse FINITIV´s 2023 goal is to strengthen the financial industry, and in an economically unstable world the program aims to focus on especially how fintech solutions can support both individuals and businesses.