General information

Population

5.5M

Online population

5.4M

Currency

EUR

Market overview

Population - 5.5M

[At the start](https://datareportal.com/reports/digital-2024-finland#:~:text=The state of digital in Finland in 2024&text=Finland was home to 4.46,percent of the total population.) of 2024, 85.8% of Finland’s population lived in urban centres, while 14.2% lived in rural areas.

Internet penetration - 97.8%

There [were](https://datareportal.com/reports/digital-2024-finland#:~:text=The state of digital in Finland in 2024&text=Finland was home to 4.46,percent of the total population.) 5.4M internet users in Finland at the start of 2024

FinTech Outlook: Trends, Insight & Technology

Finland has more than 210 FinTech companies in the fields of Payments, Cryptocurrencies, Blockchain, Insurance, Security & Compliance, APIs & Platforms, Data & Analytics, Customer Services & Acquisition, Financial Software, Wealth Management, Investing, and Financing. Financial software, back-end technologies, financing, and payments are some of Finland’s strongest fields. Finland has 5 FinTech unicorns: Supercell, HMD Global, Aiven, RELEX and Oura.

Finland’s startup landscape is currently experiencing a notable shift towards deep technology sectors. The ecosystem boasts an estimated 4K startups and 11 Unicorns, showcasing a blend of entrepreneurial dynamism and global competitiveness.

Banks

Finland has 17 banks as of the right moment.

Despite the economic recession, the capital position of Finnish banks has improved. This is attributable especially to growth in the net interest income of the banks. The financial standing of Finnish banks is expected to further improve in the immediate years ahead. However, the banking sector also faces threats in the form of downside risks to growth in the economy and geopolitical tensions.

<aside> 🔮

The banking sector is dominated by four major institutions:

1. **OP Financial Group:** The most extensive banking group by market share. It operates as a cooperative bank with a network of member cooperative banks spread across the country, offering various financial products and services.
2. **Nordea:** Nordea Bank Abp is the largest bank in Finland in terms of assets. It is part of the Nordea Group, the largest financial services group in the Nordic region.
3. **Municipality Finance (MuniFin):** It specializes in financing services for the public sector and is an important player in the Finnish banking system.
4. **Danske Bank:** Danske Bank is also present in Finland and provides banking services to individuals and corporate customers. It is a subsidiary of Danske Bank Group, a Danish banking institution. </aside>