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Banking and FinTech in Denmark

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15. June 2018

A delegation from the Tyrolean Chamber of Commerce banking and insurance branch was on an inspirational tour through the Danish bank and FinTech scene in Copenhagen from 6 to 8 May 2018.

Denmark is recognized as a digital pioneer country, a position partly achieved through cooperation between the public sector and the financial sector. This has led to a number of important IT solutions, such as NemID and digital registration. Digital solutions are well established, from Betalingsservice and Dankort (Danish debit card) to MobilePay. 90% of the population use internet banking on a regular basis, putting Denmark in the top position in Europe (compared to only 57% in Austria). The program included visits to, among others, Danske Bank with its digital payment flagship MobilePay, a groundbreaking payment solution, which the Bank brought to the Danish market in 2013, and the Danish Financial Services Authority, which initiated its FT Lab, a regulatory sandbox for FinTech initiatives, earlier this year. With the visit of the Copenhagen FinTech Lab, the group of Tyrolean bankers came in direct contact with the flourishing Copenhagen Fin Tech ecosystem, which has recorded high growth rates in recent years, and its StartUps.