We operate in a data intelligence market that is growing and changing rapidly. The ever-expanding data universe creates a perpetual space for innovation and opportunities to provide new valuable data and services for our customers. We are well-positioned to develop and expand our offering and market presence to match key industry trends and customer needs across the Nordics.
In 2024, we executed our company strategy by launching and commercializing new innovative services and enhancing capabilities in artificial intelligence, customer channels, distribution and product development, all aimed at increasing customer value and growth. Although the consumer credit market was challenging in Sweden and Finland, we were able to maintain solid profitability and cash flow. We delivered good growth in our Business Insight business area.
New value-adding services launched for our customers
In 2024, we launched several new innovative services within fraud prevention, revised Payment Services Directive (PSD2) for open banking, compliance, real estate and environmental, social and governance (ESG) climate risk.
Fraud is an increasing societal problem across Nordics, especially in Sweden. To address the growing need for data-driven fraud prevention solutions, we launched a new anti-fraud score for the Swedish market. The service has generated strong interest, culminating in signing of the first significant deal in the fourth quarter in Sweden.
The demand for compliance services continues to grow rapidly and our sales in compliance increased by nearly double digits. We expanded our unique Nordic compliance offering during the year, as we launched politically exposed person (PEP) and sanction list services in Sweden and Norway.
Sustainability continues to be at the core of everything we do
Our high-quality data and services help companies and entities in making sustainable decisions. We continued ESG product development in 2024 and launched, for example, a new ESG-integrated property climate risk service in Sweden. We expect that the need for our climate risk and other ESG services will increase in the future as credit and business decision-making processes are expected to incorporate ESG matters more comprehensively.
In our own operations, sustainability means that we are a responsible partner to our customers and suppliers, an empowering and sustainable workplace and focus on decreasing our own environmental footprint. We are committed to reducing our environmental footprint and achieving net zero emissions by 2030 in line with our strategy.
The carbon footprint of our own operations is low. The most significant environmental impacts arise from the European Sustainability Reporting Standards (ESRS) Scope 3 emissions, especially purchased goods and services, which represent around 98 percent of our total location-based CO2e emissions. We continued to invest in our people and were very satisfied to see that our Employee Engagement index improved, and employee turnover decreased. This highlights the success of our initiatives aimed at retaining our talented employees, strong team spirit and good leadership within our organization.
Moreover, we continue to invest in customer experience to improve customer satisfaction, retention and business performance. Enhancing data-driven decision making is a priority, and we will transition to a new customer feedback insight tool in a few weeks’ time.
Looking ahead: balance of driving growth, efficiency and long-term competitiveness
In 2025, we have many opportunities while our operating environment remains mixed. Demand for business information services remains good, but Swedish consumer credit information business faces uncertainty due to the new regulatory developments and structural changes.
Maintaining our position as the market leader in the core credit and business information services remains our priority, while we focus on strategic growth in new services and expanding market penetration in new verticals and mid-sized customer segments, particularly in Sweden and Norway. We will also continue to transform our small and medium-sized enterprise (SME) business in Sweden and addressing the structural changes in the Swedish consumer credit market with targeted actions.
Further information
Read more about our company, strategy, business operations, year 2024 achievements and sustainability report for 2024 in our Annual and Sustainability Review 2024 published today on March 21st.
You can learn more about our service development and our sustainability activities directed towards our own personnel in the following articles:
- We offer compliance and fraud services to support our customers business processes – Enento, Dec 18th, 2024
- We are constantly developing our ESG services supporting sustainable lending and procurement – Enento, Nov 21st, 2024
- Empowering our people – Enento, Feb 19th, 2025
