Automatic term extraction (ATE) from texts is critical for effective terminology work in small speech communities. We present TermPortal, a workbench for terminology work in Iceland, featuring the first ATE system for Icelandic. The tool facilitates standardization in terminology work in Iceland, as it exports data in standard formats in order to streamline gathering and distribution of the material. In the project we focus on the domain of finance in order to do be able to fulfill the needs of an important and large field. We present a comprehensive survey amongst the most prominent organizations in that field, the results of which emphasize the need for a good, up-to-date and accessible termbank and the willingness to use terms in Icelandic. Furthermore we present the ATE tool for Icelandic, which uses a variety of methods and shows great potential with a recall rate of up to 95% and a high C-value, indicating that it competently finds term candidates that are important to the input text.