Key points:
- Finland's new iGaming licensing system to start in 2027
- Trumo Finance offers regulated open banking payment solutions
Trumo Finance Oy has launched its services in the Finnish market as the country prepares for significant changes to its gambling regulations.
The company’s entry comes ahead of the planned introduction of a licensing system in early 2027, which aims to shift Finland’s iGaming market from a monopoly to a competitive framework.
Currently, the Finnish gambling market is dominated by Veikkaus Oy, which holds exclusive rights to operate most gambling activities. However, the Ministry of the Interior’s proposed legislation would allow other operators to apply for licences, bringing more of the gambling sector under national regulation.
The changes seek to address unregulated online gambling activities and ensure player protection through stricter compliance measures, such as anti-money laundering (AML) standards and safer gambling practices.
Trumo Finance is regulated by the Finnish Financial Supervisory Authority (FFSA) and was established by industry professionals Martin Prantner and Sari Aitokallio.
With over two decades of combined expertise in the iGaming and fintech sectors, the leadership team is positioned to support operators navigating the evolving regulatory environment.
Trumo Finance CCO, Roope Lindroos, said: "We have seen a shift in attitude and corporate values in other Nordic regulated markets. The biggest operators and suppliers in the market now fully operate under the established licensing scheme. This shall be the same in Finland, whereby to make the regulation work, this puts extra responsibility on payment suppliers only to work with fully regulated operators that have the highest ethical standards and embrace AML and safer gambling.”
Good to know: Trumo Finance's R&D centre is based in Tallinn, Estonia, a fintech hub, supporting its ongoing product development tailored for the Finnish market
The new framework is expected to provide clearer guidelines for compliance, while maintaining Veikkaus Oy’s monopoly over certain gaming sectors like lotteries and scratch cards.
With licences anticipated to be available from 2026, the reforms aim to bring transparency and control to the Finnish gambling sector.
In July 2024, the Finnish Government released a draft law outlining the upcoming changes to the gambling act, highlighting plans to open the market to competition while retaining some monopolistic elements.