Danske Bank has entered into a strategic partnership with United FinTech, becoming the third institutional investor to back the company alongside Citi and BNP Paribas.
According to Finextra, by partnering with United FinTech, Danske Bank aims to strengthen its exposure to innovative solutions, contribute to the advancement of the fintech ecosystem, and ultimately enrich its customer value proposition. He says he is aiming for it.
As part of the financing agreement, Danske Bank has secured a rotating board position within United FinTech, allowing it to be directly involved in shaping the platform's strategic direction.
Klaus Harder, Head of Transaction Banking and LC&I Business Development at Danske Bank, said the investment is in line with the bank's Forward '28 strategy, particularly in areas such as corporate banking, capital markets, wealth management and API integration. emphasized its importance.
He said: “With this partnership, Danske Bank sees great opportunities not only for cooperation within the existing ecosystem of fintech companies, but also in terms of getting closer to future fintech investment processes and decision-making. We believe that Danske Bank can ultimately increase its exposure to innovative solutions.” Benefits our customer value proposition. ”
United Fintech has rapidly expanded its portfolio with the acquisition of five fintech companies and has over 160 employees across eight countries.
Companies integrated into the United Fintech ecosystem include Cobalt, FairXchange, TTMZero, Athena Systems, and NetDania, highlighting the company's commitment to fostering innovation and collaboration in the financial services space.
CEO Christian Frahm said: “This initiative will help us address the industry's most pressing challenges through collaboration, rather than solo efforts. By combining the strengths of Danske Bank and our other banking partners, we will lead the way in a new era for the banking industry. Setting the stage and moving the industry beyond traditional silos into the digital era.”
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