Danske Bank invests in United Fintech
“We are delighted that Danske Bank has decided to invest and join United Fintech’s industry-neutral Digital Transformation Platform.”
Danske Bank has joined United Fintech’s circle of institutional investors by acquiring a stake in the fintech of fintechs founded by Christian Frahm.
United Fintech, which recently announced an executive reshuffle, aims to become the backbone of finance in the digital era, accelerate innovation, and unite the best fintech founders on a single platform by acquiring startups, optimizing their business, and making them part of a fintech one-stop-shop for banks, brokers, hedge funds, and asset managers.
By providing data-driven innovation, United Fintech intends to create an efficient symbiosis between customers, banks, and technology that results in elegant solutions for automating workflows, easing onboarding, delivering efficiencies, and saving costs.
Global banking enters a new era of collective innovation
With Danske Bank now sitting on the board alongside BNP Paribas and Citi, who joined earlier this year, it becomes clearer that shared collaboration is the way ahead for financial services as global banking enters a new era of collective innovation.
Securing a rotating board seat in United Fintech and deepening their relationship will also support the Nordic bank’s Forward ’28 strategy across areas such as corporate banking, capital markets, wealth management, and API integrations.
As United Fintech explained, the investment will enable swift access to the exploration of cutting-edge fintechs through its industry-neutral Digital Transformation Platform, where Dansk Bank will build on collective efforts along with +200 other financial institutions and benefit from new strategic partnerships and scalable ways of diversifying its digital ambitions.
United Fintech confirmed it is also in advanced talks with further strategic investors to join the journey as part of a broad industry shift towards collaborative fintech innovation.
“Moving beyond traditional silos to propel the industry into the digital age”
Claus Harder, Head of Transaction Banking & LC&I Business Development with Danske Bank, said: “Danske Bank is very excited to join United Fintech and sees great opportunities as per both collaborations within the existing ecosystem of fintech companies, but also in being closer to the future fintech investment processes and decisions, where the partnership allows Danske Bank to expand its exposure to innovative solutions, ultimately benefiting our customer value proposition.
“With a company backbone highly aligned with our Forward ’28 strategy, United Fintech is an investment that provides a unique digital edge and competitive advantage to support our strategy in terms of both relevance and time-to-market when it comes to future innovative solutions. Furthermore, the investment in United Fintech will generate possibilities to engage directly with fintechs that are subscale; to support their growth while simultaneously helping fuel our own digital transformation and growth strategy.”
Christian Frahm, CEO and founder of United Fintech, said: “We are delighted that Danske Bank has decided to invest and join United Fintech’s industry-neutral Digital Transformation Platform. Their innovative and forward-looking approach to digital transformation is a cornerstone in our mission to build a transformative platform. This commitment is instrumental in addressing the industry’s most pressing challenges through collaboration, rather than isolated efforts. By uniting the strengths of Danske Bank and our other banking partners, we are setting the stage for a new era in banking where we move beyond traditional silos to propel the industry into the digital age.”
