Open Future Blog by Syone

If you’re a Fintech Startup in the Nordic region—including Sweden, Norway, Denmark, and Finland— you know that the landscape is dynamic and highly competitive.

As we witness the rise of digital banking, payment solutions, crypto, and other financial innovations, stay agile while navigating increasingly complex regulatory environments.

One critical regulatory framework is the European Banking Authority (EBA) outsourcing guidelines. Startups looking to outsource processes within the Euro Zone must ensure total compliance with these regulations if they don't want to risk heavy penalties and fines.

With financial institutions having to adapt to new regulatory frameworks, like the European Banking Authority (EBA) guidelines for outsourcing within the financial sector, the topic has gained traction as more and more financial institutions opt for it, especially in the Nordic region, which covers countries such as Sweden, Finland, Norway, and Denmark.

In this blog post, we’ll explore the meaning of EBA outsourcing, its importance, and how financial companies can comply with such guidelines to be compliant and efficient in their operations.

Nearshore and Outsourcing are two strategies that come up when we're talking about cost reductions or boosting operational efficiency. But what about sustainability?

As unlikely as it may sound, these practices can contribute to decreasing the carbon footprint of companies worldwide and become part of a broad-reaching strategy to promote sustainability.

India, China, and Eastern Europe have dominated the Nearshore and Outsourcing industry for the longest time. However, countries like Portugal are gaining newfound recognition as one of the premier choices for these services, disrupting these industries at lightning speed.

Here's why Portugal is growing as a Nearshore and Outsourcing destination and why you should start considering moving your IT services here:

Outsourcing has become a cornerstone of modern business, allowing companies to access a global talent pool and streamline operations. According to a report by ReportLinker,  the value of the outsourcing sector is expected to grow by USD 75.89 trillion between 2023 and 2027 at a compound annual growth rate (CAGR) of 6.5%. However, the success of outsourcing isn't solely dependent on cost-effectiveness and efficiency; it hinges on the well-being and productivity of the workers fueling the industry.