Resurs Bank in 2023

Resurs Bank in 2023: Top 5 Reasons Why It Might Turn Into a Giant

Resurs (also known as Resurs Bank) has been around for 45 years, and it is the 19th largest bank in Sweden. Recently, there has been some controversy as Resurs received a fine of 50 million SEK (5 million USD) for issuing credits with poor assessment in 2019. Since I wrote about some of Resurs Bank Credit Cards, many readers reached out to bring more details about the bank, and my experience.

In this post, we cover 5 reasons why Resurs is heading in the right direction to becoming a consumer giant.

What is Resurs Bank?

Resurs Bank is a niche bank in Sweden focused on private and corporate markets. In the private market, they offer credit cards, private loans, and savings accounts. In the corporate market with Retail Finance (partnership and financing for retail customers) and factoring. Resurs partners in financing in stores/e-commerce are chains such as NetOnNet, Bauhaus, Ticket, SOVA, BMW, and MIO.

Current offers from Resurs Bank

Why to chose Resurs Bank? – Top 5 Reasons

1. Recent Growth

For the past 15 years, Resurs Bank and Resurs Holding have been steadily growing, which is reflected in the search trends and volumes. Their marketing strategy, partnership execution, and brand awareness are fruitful because more people every year know more about the Resurs brand, making their name solid and trustable.

You can see this using many tools, for example, the search trend of “Resurs Bank” in Sweden on Google Trends:

Resurs Bank in Google Trends (2023)

And the search volume for “resurs bank” in the Nordics (in Ahrefs)

Resurs Bank in Ahrefs (2023)

2. Strong Customer Focus

Resurs Bank knows how to reinvent itself to attract new customers. Recently, and during the entire 2022, it has taken the lead in raising the savings interest rates to 2.10% compared to other banks. Big banks like Nordea and Swedbank struggle to move that fast, losing clients.

They have partnered with a large list of shops and retailers, not only offering payment solutions but also niche credit cards for specific shops. Only EnterCard has succeeded doing something similar that actually works with the MoreGolf Mastercard.

Resurs was in charge of issuing the Supreme card for a few years. When that didn’t work anymore, they rebranded and launched the new line of Resurs credit cards that I reviewed here, which overall are a very strong product considering the Nordic alternatives. The combination of rewarding credit cards with a free savings account that yields interest is very attractive during high inflation times.

On the loans front, they offer quite competitive interest rates and flexible terms both for private and business clients.

You can also see their stability reflected in their financial report. Look at Resurs Bank’s total operating income from 2020 to 2023:

Resurs Bank Total Operating Income 2020-2023
Resurs Bank Total Operating Income 2020-2023

3. Strong resources for business

Resurs Bank has always focused strongly on the business segments, providing solutions for companies, stores, and online shops. Particularly in payment solutions and services. With over 40 years in retail, and a smooth, safe and simple customer experience, Resurs is one of the strongest players against big banks in 2023, along with Svea.

Some partners that chose Resurs Bank are NetOnNet,, Gekås Ullared, Bauhaus, and more.

Resurs Bank Business Solutions (2023)

4. Big Focus on sustainability and Society

According to its executives, Resurs is on a journey of change to become a more competitive, digital, and sustainable financial actor. Recently they launched a platform called Resurs Society with a focus on the following goals and initiatives.

Contribute to an inclusive credit market. In 2022 Resurs Bank developed and launched the following:

  • Directed target group-linked activities towards, e.g., young and first-time borrowers to take extra responsibility for them throughout the entire customer journey.
  • Online school of economics to enable an increase in knowledge about what it means to take out a loan or buy a product in installments.
  • More proactive efforts to increase opportunities for support and needs-based solutions for customers experiencing payment difficulties.

Reduce direct climate impact by 50% by 2030. Resurs Bank from 2022 will also climate compensate for our estimated climate impact and thus ensure that this part of our business is climate neutral. 

Launch more sustainable products and financing solutions. Examples are energy solutions for the home such as solar cells and charged poles, but also subscription solutions and work for climate-positive activities and increased circularity.

Recently, on December 6, Resurs Bank signed the UN Principles for Responsible Banking.

5. Open Banking API

Resurs Bank follows the Open Banking API and offers a developer portal for easy integration with other tools. This is required for a future banking system that can be audited.

With Resurs Open Banking and through their access-to-account (XS2A) API, you can create innovative solutions and strengthen your product with consumer bank account data. In line with EU PSD2 regulation guidelines, Resurs focus on customer rights and security for safer data sharing.

Resurs offers its Open Banking API through a collaboration with Crosskey, using the Open Banking UK framework. They offer documentation and a test sandbox environment in a Resurs developer portal.

Resurs Bank in 2023: Conclusion

Resurs Bank has been growing steadily in revenue, customer base, and branding. The search trend and volumes are the best in the past 15 years. They have reinvented their portfolio several times, proposing digital and sustainable products that compete with slow-paced big banks including Nordea, Handelsbanken, and Swedbank.

Combining a strong customer focus, sustainability, competitive rates, and flexible products for both private customers and businesses, keep an eye on Resurs Bank as it might turn into one of the big giants of the Nordic banking system.

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