Swedish fintech Dreams is splitting into two businesses as it looks to expand its financial wellbeing technology into a B2B solution for banks worldwide.
Dreams AB into two separate B2C and B2B businesses, with the B2C unit now transitioning into Dreams Sustainable, established as a joint venture with the BNP Paribas Group. Meanwhile, Dreams AB continues to exist as the holding company for both Dreams Technology and Dreams Sustainable.
The brand first launched as a B2C money-saving app in the Nordics in 2016. It has helped more than 500,000 users across Sweden and Norway become better at saving, investing and debt management.
Building on the success of its consumer platform, it will now look to provide its proprietary financial wellbeing technology as a white-labelled and embedded B2B solution to banks.
Henrik Rosvall, CEO & founder of Dreams Technology, described the rebrand as an “incredibly exciting time” as it looks to boost its next phase of international expansion.
“The new direction of the company will enable laser focus on growing our B2B business, supporting banks in creating deeper and more valuable relationships with their customers, and helping us achieve our core mission of making financially sustainable living an everyday reality for people,” he said.
“As the cost-of-living crisis sharpens its teeth and continues to cause financial anxiety for millions of households around the world, the need for banks to start encouraging their customers towards healthier financial behaviours is becoming more important than ever, and we’re confident that we can support them in that transition.”
Co-created with behavioural scientists in the fields of psychology, neuroscience, and behavioural economics, the platform is designed to activate intrinsic motivation and drive sustainable behavioural change in banking customers by closing the intention-action gap, creating positive and impactful financial behaviours, and making money more emotional, accessible, and effective for everyone.
Early adopters of Dreams Technology’s engagement banking solutions include market leaders such as BNP Paribas Group and Mastercard.