European banks and asset managers are increasingly turning to digital savings platforms to diversify funding sources and reach retail customers directly. As cloud-native banking infrastructure becomes more widespread, institutions can launch deposit products across new markets faster while reducing reliance on third-party distribution channels.
Stockholm-based asset manager Hoist Finance has officially launched its retail savings product, HoistSpar, in the Spanish market. This expansion marks a significant technical milestone as it is the first time the banking technology provider Vilja has executed a project in Spain. The move allows Spanish savers to open fixed-term accounts in euros with competitive terms through a fully digital interface. Since its launch in Sweden in 2009, HoistSpar has served as a strategic funding mechanism for Hoist Finance’s core business. The capital raised through these deposits is utilised to acquire and manage non-performing loan portfolios from international banks and financial institutions across Europe.
The direct platform in Spain is hosted on Vilja Deposit, which provides a cloud-native, end-to-end solution for modern banks. This infrastructure features specialised tools for digital onboarding and a self-service portal known as My Pages. The solution is designed to integrate seamlessly with other technology providers, ensuring an efficient and scalable setup for the bank. Max Ehrengren, the Head of Treasury at Hoist Finance, stated that partnering with Vilja allows the firm to launch deposit products with flexibility and speed across different European jurisdictions. By taking deposits through its own direct channel rather than relying solely on third-party marketplaces, the institution can effectively diversify its funding base and optimise its long-term funding costs.
Hoist Finance has frequently worked with Vilja in recent years to expand the HoistSpar product across the continent. The asset manager currently utilises a hybrid distribution strategy that includes both partner markets and direct platforms. In countries such as Poland, Ireland, Austria, and the Netherlands, the firm reaches customers through the Raisin marketplace. However, it operates its own direct platforms in Sweden, Germany, and now Spain. Harry Vranjes, the CEO of Hoist Finance, noted that the institution currently supports over 100,000 active savers across six European countries. The Spanish launch offers fixed-rate accounts with terms ranging from 3 to 24 months, providing a secure and accessible option for local consumers looking to grow their savings.
This geographic expansion comes at a time of significant corporate growth for the Swedish asset manager. In February 2026, Hoist Finance signed an agreement to acquire the United Kingdom-based debt purchaser Azzurro Associates for approximately 200 million pounds. This acquisition is expected to close later this year and will specifically strengthen the firm’s presence in the small- and medium-enterprise non-performing loan segment.
The ability to raise cost-effective capital through retail deposits in Spain will support the continued acquisition of such large-scale debt portfolios. Fredrik Ulvenholm, the CEO of Vilja, expressed pride in supporting Hoist Finance’s impressive growth journey. He noted a growing demand from banks to complement their funding via direct digital channels that meet modern customer expectations for a seamless onboarding experience. This milestone confirms that the convergence of specialised debt management and agile banking technology is reshaping the European financial landscape.
Key takeaways
- Hoist Finance has launched HoistSpar digital savings accounts in Spain
- The platform is powered by Vilja Deposit, a cloud-native banking infrastructure solution
- Spanish customers can open fixed-term euro savings accounts with terms ranging from 3 to 24 months
- HoistSpar acts as a funding source for Hoist Finance’s acquisition of non-performing loan portfolios across Europe
- The launch marks Vilja’s first banking technology deployment in the Spanish market
- Hoist Finance now serves over 100,000 savers across six European countries
- Expansion into Spain supports the firm’s broader growth strategy, including its planned £200 million acquisition of Azzurro Associates in the UK
Photo by Sasun Bughdaryan on Unsplash
