Auka was the first company to launch a mobile wallet in Norway, and the first company to run an FSA-regulated payments platform 100% in the cloud. The company was recently awarded Fastest Growing Fintech by Deloitte Fast 500 EMEA.
Auka connects banks with merchants and consumers, currently hosting 17 banks, 9k merchants and 1m consumers live on the platform. With PSD2 approaching, a new breed of competition is threatening banks´ traditional business models and customer channels. Auka helps banks fight this, by offering a powerful new channel for customer acquisition and revenue generation. Including products such as mobile payments, consumer credit, card issuing and clearing and settlement. All products are realised through white-label consumer and merchant applications, that are branded, owned and monetised by banks. Auka Advisory also offers strategic advice to financial institutions that are investigating- or in the process of launching mobile payment solutions.
Daniel Döderlein founded mCash, the first fully regulated financial services company to operate entirely from Google’s Cloud platform. At the time (2010) he saw this as an invaluable change-enabler for retail banks, beginning discussions with several of the region’s largest banks.
Initially dismissed due to lack of belief in the offering’s necessity, the company went to market alone as the first mobile payments service in Norway, quickly amassing more than 200,000 users. When Norway’s largest bank, DNB, brought their own mobile payments to market, the country’s second largest bank, SpareBank 1, re-engaged. At the end of 2015, SpareBank 1 took over the exclusive naming/use rights for mCash in Norway.
Daniel and his team subsequently founded Auka, the first white label mobile payments platform out of Scandinavia and the first to get a license under PSD1. Auka has just been placed number one fast growing fintech company by Deloitte in the EMEA Fast 500.