According to Finextra, Danske Bank hopes to expand its customer value offer by collaborating with United Fintech and increasing its exposure to cutting-edge products and the fintech industry.

Danske Bank receives a rotating board seat at United Fintech as part of the funding agreement, giving them direct influence over the platform's strategic direction.

The importance of this investment in keeping with the bank's Forward '28 strategy was emphasized by Claus Harder, head of transaction banking & LC&I business growth at Danske Bank, especially in sectors like corporate banking, capital markets, wealth management, and API connections.

According to him, "Danske Bank sees great opportunities for collaboration within the current fintech ecosystem as well as for being closer to the future fintech investment processes and decisions. Through these partnerships, Danske Bank will be able to expand its exposure to innovative solutions, which will ultimately improve our value proposition for customers."

With five fintech firms under its belt and more than 160 employees spread across eight countries, United Fintech has quickly grown its portfolio.

Cobalt, FairXchange, TTMZero, Athena Systems, and NetDania are among the companies that have joined the United Fintech ecosystem, demonstrating the company's dedication to promoting creativity and teamwork in the financial services industry.

"This commitment is crucial in addressing the industry's most pressing challenges through collaboration, rather than isolated efforts," stated CEO Christian Frahm. We are paving the way for a new chapter in banking history where we transcend conventional silos and lead the sector into the digital era by combining the strengths of Danske Bank and our other banking partners.