Saxo Bank teams up with 5 Danish banks

This collaboration will provide new banking solutions for the customers

Saxo Bank

Saxo Bank teams up with 5 Danish banks. Source: unsplash.com

Saxo Bank has signed an agreement with 5 Danish SDC member banks. This involves Sparekassen Vendsyssel, Sparekassen Thy, Middelfart Sparekasse, Frøs Sparekasse, and Jutlander Bank.

The partnership will give the banks’ combined 500,000 clients access to Saxo Bank’s trading and investment solutions.

According to information, Saxo is developing a digital advisory tool, which can work together with the banks’ existing systems. It can simplify processes for the banks’ financial advisors by providing them with a full overview of their customers’ portfolios.

We are very proud to sign this landmark partnership with a group of Danish banks. It has been a very constructive process, where we have leveraged our expertise in building white label solutions and worked closely with the participating banks to fully understand their clients’ and advisors’ needs. The end-clients will gain access to our market-leading trading and investment platforms and our partners in SDC will save on IT-costs and cut complexity, which will enable them to focus even more on servicing their clients
Kim Fournais, CEO and Founder of Saxo Bank

We’ve reported that Brits paid off a record £7.4 billion of debt in April during the lockdown. They paid off £5 billion in credit card debt alone in April, compared to £2.4 billion paid off in March.

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