Danske Bank has entered a strategic partnership with United Fintech, making it the third institutional investor to back the firm alongside Citi and BNP Paribas.
By joining forces with United Fintech, Danske Bank aims to enhance its exposure to innovative solutions and contribute to the advancement of the fintech ecosystem, ultimately enriching its customer value proposition, according to Finextra.
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.
Claus Harder, head of transaction banking & LC&I business development at 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.
He said, “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 rapidly 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.
CEO Christian Frahm said, “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.”
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