Subject: LIC
Danske Bank invests in United Fintech and joins board to digitally support its Forward '28 strategy
COPENHAGEN, Denmark, May 7, 2024 /PRNewswire/ -- Joining United Fintech's circle of institutional investors, Danske Bank takes a seat at the board of a leading industry-neutral Digital Transformation Platform alongside BNP Paribas and Citi to support the bank's Forward '28 strategy from a digital frontier. A move signalling that shared collaboration is the way ahead for financial services as global banking enters a new era of collective innovation.
Danske Bank A/S has become the third institutional investor in United Fintech Group Limited securing the Nordic bank a rotating board seat in the rapidly growing industry-neutral Digital Transformation Platform:
"Danske Bank is very excited to join United Fintech and 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. The partnership allows Danske Bank to expand its exposure to innovative solutions, ultimately benefiting our customer value proposition," says Claus Harder, Head of Transaction Banking & LC&I Business Development with Danske Bank.
Digitally supporting the strategy
The investment will enable swift access to exploration of cutting-edge fintechs through United Fintech's platform. Building on collective efforts along +200 other financial institutions, this will also allow Danske Bank to benefit from new strategic partnerships and scalable ways of diversifying its digital ambitions - and thus support the bank's Forward '28 strategy across areas such as corporate banking, capital markets, wealth management and API integrations:
"With a company backbone highly aligned with our Forward '28 strategy, United Fintech is an investment that provides a digital edge and competitive advantage to support our strategy in terms of both relevance and time-to-market when it comes to future 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," elaborates Claus Harder.
United Fintech: Broad industry shift underway
The announcement of Danske Bank's investment comes just months after it was published on February 27 that BNP Paribas and Citi entered as institutional investors in United Fintech.
According to United Fintech's founder and CEO, Danske Bank's investment is not only a testimony to the Nordic bank's commitment to shared collaboration on an industry-neutral platform, but the financial industry as a whole, as the Unithed Fintech confirms it is also in advanced talks with further strategic investors to join its transformative journey, signalling a broad industry shift towards collaborative fintech innovation as global banking enters a new era:
"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," ends Christian Frahm, CEO and founder of United Fintech.
About Danske Bank ? For more than 150 years, Danske Bank has helped enable growth and development in society. The bank has developed in tandem with the societies it exits in providing advisory services, expertise and financial solutions that have helped individuals, families, businesses, and organisations to realise their ambitions and potential. The bank helps customers in eight countries, has more than 200.000 small and medium-sized business customers and more than 35 percent of large corporates in the Nordics. With long-term sustainable development an ambition the bank will continue to work every day to be the best possible bank, for the benefit of customers, employees, shareholders and the societies it is part of.
About United Fintech ? Founded in 2020, United Fintech is an industry-neutral Digital Transformation Platform where global financial institutions and cutting-edge technology providers come together to unleash their full potential and enable the future of finance. United Fintech remains on the frontier of innovation by acquiring engineering-led fintechs within Capital Markets, Wholesale Banking and Wealth Management under a central umbrella and in just four years, the company has acquired five fintechs and is on track to acquire many more. In 2024, United Fintech received investments from BNP Paribas and Citi.
Contact ? For more information, please direct media enquiries to:
Ulrik Scheibye / [email protected] / +45 4514 1400
Nic. Rossen / [email protected] / +45 2072 9972
Download pictures of Claus Harder of Danske Bank and Christian Frahm of United Fintech here:
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