Danske Bank steps up fintech partnership hunt
Danske Bank has opened the throttle for new fintech partnerships.
With a new strategy in place, the bank says partnerships are “top of the agenda as a strong lever for future growth and joint value creation”.
To that end, it’s recruiting for a partnership engagement manager for fresh action in the Nordics and for its “new super-team”.
The job advert contains the usual nonsense that banks inflict upon us – such as “a win-win mindset and care for delivering a superior partner experience”.
But away from tiresome rubbish, it does mention an interest in insurance companies and real estate. Nothing is certain yet, but we may see insurtech and lendtech developments.
This desire to tap into fintech is not a surprise but merely builds on its previous deals.
Back in May, Danske invested “millions” in Danish-based budget app Spiir, thus becoming co-owner of a fintech company for the first time.
According to the bank, more than 200,000 Danes use Spiir to manage their budget, monitor their spending and find less expensive alternatives for their fixed expenses.
With the investment, of which exact details were not disclosed, Danske says it now has access to Spiir’s technical platform, which includes data retrieval from other Nordic banks.
Prior to that, Sweden-based start-up Minna Technologies said its personal finance management (PFM) solution for subscription management will be integrated into Danske Bank’s mobile banking app later in 2018.
The deal means the PFM solution becomes available to the bank’s 2.4 million private customers. In total, Minna says its platform will be used by seven million users in the Nordics.