How we make you succeed in the world of Payments

The rapid digitalization of payments has revolutionized money transfers, offering speed, convenience, and accessibility. However, as traditional transactions shift closer toward real-time capabilities, fraudsters are adapting just as quickly—exploiting new vulnerabilities to sustain illegal activities. Payment fraud has evolved into a critical threat, not just for consumers, but for the stability of the financial ecosystem. In Sweden alone, reports from the Financial Supervisory Authority (Finansinspektionen) indicated that payment fraud nearly tripled between mid-2020 and mid-2023, emphasizing the importance of strong fraud prevention. This whitepaper explores the evolving nature of fraud in the modern payment landscape, its broader impact, and the necessary adaptations within the industry to mitigate these risks.

We sat down with our Managing Partner Richard Lindblom and Partner Niclas Lindblom to discuss the key developments shaping the payments industry in 2025. Here’s what we’ve gathered.

The Swedish central bank, Sveriges Riksbank, opened their RIX INST system in November 2024 to support additional instant payments beyond Swish. In short, RIX INST (Real-time Interbank Settlement) is a modernization of Sweden’s payment system which enables real-time transfers between financial institutions utilizing the ISO 20022 messaging standard. All participating banks have been working hard on this project for years, a few of them with help from 421. We sat down with Niclas Lindblom, Senior Manager at 421 and RIX INST expert, to explore several potential product ideas and business cases that could emerge from this groundbreaking technology.