Danske Bank has partnered with
United Fintech to enhance its exposure to innovative solutions and contribute to the advancement of the fintech ecosystem.
As part of the financing deal, Danske Bank secures a rotating board seat within United Fintech, enabling direct involvement in shaping the platform’s strategic direction.
Danske Bank emphasised the significance of this investment in aligning with the bank’s Forward ’28 strategy, particularly in areas such as corporate banking, capital markets, wealth management, and API integrations. Officials from the bank commented that Danske Bank sees great opportunities as per both collaboration 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.
United Fintech has expanded its portfolio by acquiring five fintech companies, encompassing a workforce of over 160 individuals across eight countries. The firms integrated into the United Fintech ecosystem include Cobalt, FairXchange, TTMZero, Athena Systems, and NetDania, underscoring the company’s commitment to fostering innovation and collaboration within the financial services sector.
Officials drom United Fintech commented that by uniting the strengths of Danske Bank and other banking partners, it is setting the stage for a new era in banking where the fintech moves beyond traditional silos to propel the industry into the digital age.
Other recent announcements from Dankse Bank
In March 2024, Dankse Bank
announced its partnership with Amazon Web Services to invest in cloud technology and provide customers with new digital solutions. Following this announcement, Danske Bank signed a multiyear agreement with Amazon Web Services as part of its Forward’ 28 strategy. Furthermore, additional investments in digitalisation and cloud technology developments took place in order for the strategic goal to take place. Both Danske Bank and Amazon Web Services were set to focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving industry, while also remaining compliant with the laws and regulatory requirements of the industry.
In January 2024, the bank
entered an agreement with Backbase to gain access to the latter’s Engagement Banking Platform and improve the customer experience. Through this collaboration, Danske Bank received access to Backbase’s Engagement Banking Platform, which is planned to be progressively implemented across its digital channels in the upcoming years. The agreement also supports the bank in providing its customers with an improved digital experience and enhanced solutions.
