business overview

Icefire designs and builds transformative technologies for banks and fintech companies.
We simplify and automate complicated processes, replacing tedium with meaningful work fit for humans.

what we do

  • Retail & Corporate Banking
  • Lending, Leasing, Factoring
  • Payment Cards & Systems
  • Revenue Recognition
  • Debt Management
  • Data Mapping & Migration
  • Real-time Decisioning
  • Digital KYC
  • DLT
  • Regulatory & Compliance
  • Reporting (incl. GDPR)

how we run

  • Fast
    As we have done what we do for a long time, we may already have many of the pieces you need. Chances are, we deliver 2–3x faster than building from scratch.
  • Focus on what matters
    Years of work for the financial industry have led us to this point. We know the business and speak the language. Let’s get it done.
  • Beyond technology
    When new solutions call for adjustments in processes and the organization, we will guide you through the necessary changes.

trusted by

The major customers in the financial services sector include Luminor, OP Financial Services Group, Swedbank (Group, Finland, Baltics), Nordea, LHV, Bigbank, Pocopay, Coop Bank, Nets, SEB, Arvato Financial Services, Volkswagen Financial Services.

In addition, Icefire has also been building large-scale financial systems for Skype (real-time revenue journaling for Skype’s global paid business) and Telia (consumer-credit and leasing platform). From the public sector, our long-time key customer is the Estonian Tax and Customs Board.


  • Banking Tech Awards 2018
    Winner: Best Use of IT in Corporate Banking
    OP Financial Group for OP Invoice Credit
  • Banking Tech Awards 2018
    Shortlisted: Best Use of IT in Lending
    OP Financial Group for OP Invoice Credit
  • Banking Tech Awards 2017
    Shortlisted: Best Tech Overhaul Project
    Bigbank’s micro-service-based Banking System
  • CIO Banking Outlook, Nov 2018
    Top 10 European BankTech companies to watch

modularbank - your banking platform in a box

Modularbank is a cloud-based banking platform that allows the launch of banking products and services in only 0–6 weeks by:

  • Modularity – choose what you need
  • APIs for easy integration
  • Automated back-office processes
  • Flexible product and service setup

Modularbank is a spin-off of Icefire and realised out of decades of experience in working with financial institutions.