British bank establishes fintech joint venture in China

Through the JV, Saxo Bank aims to grasp important opportunities brought by China’s open financial markets

Saxo Bank

British bank establishes fintech joint venture in China. Source: shutterstock.com

Saxo Bank announced a partnership with Geely Sweden Holdings AB to establish a technological joint venture (JV). They are going to provide financial and regulatory technology solutions to Chinese financial institutions.

The JV will utilize cutting edge technologies such as cloud-based services, big data, and artificial intelligence. This way, Chinese institutions will be provided with full-suite financial and regulatory technology solutions. It’s about the areas of trading and investment, robo-advisory, asset management, risk solutions, and Regtech. Geely will fully support the JV’s deployment and operation, especially in providing local know-how.

Saxo Bank intends to introduce internationally advanced financial and regulatory technologies and experiences to China. Along with that, it wants to offer developing platform solutions that suit the needs and requirements of the Chinese market.

The establishment of the technological JV is a significant milestone for the Saxo Group with unique commercial opportunities. I am very proud that we are strengthening our presence in China with the support of our partner, Geely. We will work hard with a long-term focus to build our business in China and create win-win with partners looking to leverage our technology to support their clients. This is a very important first step in strengthening our presence in China. And we will continue to explore further opportunities, working in tandem with regulators and the opening of Chinese markets, to provide transparent, efficient and safe access to investment opportunities in global financial markets building on our experience with tailoring our technology to highly regulated markets across the globe
Kim Fournais, CEO and founder of Saxo Bank

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