The Danish fintech scene is flourishing

Lyt til artiklen

Vil du lytte videre?

Få et Digital Plus-abonnement og lyt videre med det samme.

Skift abonnement

Med Digital Plus kan du lytte til artikler. Du får adgang med det samme.

Kære læser. Artiklen her er en del af det engelske magasin Copenhagen Fintech. Indholdet er udformet på engelsk, da det også henvender sig til en udenlandsk læserskare, som deltager på eventen Money2020, hvor Berlingske Media er mediapartner. Magasinet er udformet af Berlingske Medias kommercielle redaktion i samarbejde med Copenhagen Fintech. God læselyst.

This article is part of the commercial publication 'Copenhagen Fintech'. Click here to view all articles

In just a few years, Copenhagen has taken off as an internationally renowned fintech centre with a host of initiatives supporting technological innovation in the financial sector.

Fintech in Copenhagen (and Denmark in general) is really accelerating. This is fueled by Denmark being the most digital country in EU and number 1 in Europe for ease of doing business. Right now, more than 140 fintech startups are working on a better customer experience by increasing transparency, lowering costs and experimenting with new and innovative ways of distributing financial products and services using technology. More than 30 of them are residents in the Copenhagen FinTech Lab – Scandinavia's first co-working space and incubator dedicated to fintech entrepreneurs. It is 1,500 square meters of pure fintech in the heart of Copenhagen, with room for 130 entrepreneurs, academic thinkers and corporate innovators. You will meet many of them in this magazine and get insights into how they are working on reshaping the financial services industry.

Building a Nordic fintech hub
The raison d'être of Copenhagen Fintech Lab is to create growth and new jobs in an industry that is going through a massive digital transformation. In a report published by Deloitte, 44 of the world’s different fintech hubs are analyzed and Copenhagen makes a strong first entrance as number 16. But we do not rest on our laurels. Our aim is to be in the global top 10.
Luckily, we are not alone on this journey: our ambitious goal is supported by the government. Brian Mikkelsen, Danish Minister of Industry, Business and Financial Affairs, decided in April, 2017, to further strengthen the FSA’s fintech activities and he also visited the Lab himself in May, 2017 −
a very positive and strong signal that shows the attention this area is attracting on the highest level. Anna Mee Allerslev, Mayor of Employment and Integration in the City of Copenhagen is also personally engaged in this cause. She strongly supports the initiative and believes that we have the potential to be “part of the big fintech league.”

Many exciting new initiatives
The technologies that are being developed and utilized within the fintech industry have massive implications beyond the financial world − just think of blockchain. Denmark boasts many interesting startups and experiments in this area and there is also world-class research being done at university level. As evidence of this, the European Blockchain Center has recently been established in Copenhagen by several Danish and foreign universities.
Artificial Intelligence (AI) is no longer a technology of the future. Again, Denmark is taking the lead with the announcement of the Danish Centre for Applied AI by Alexandra Instituttet. Having such a centre will give Denmark the opportunity to take full advantage of cooperation between public and private companies working on data sharing and Artificial Intelligence solutions.
Both initiatives are extremely important for our efforts to develop
Copenhagen as a fintech hub and to attract and retain talent.

The talent challenge and an invitation to join us
It is becoming increasingly apparent that there will be a global war for fintech talent in the years to come. The industry has to work together with universities to encourage students to acquire the relevant education and skills. Denmark needs more young and ambitious people with a strong background in finance and technology to get ahead in fintech’s competitive world.
There is no doubt that Copenhagen has some more ground to cover in the global fintech race, but we know what needs to be done, and the whole ecosystem is working together to get us in pole position. Consider yourself invited to join us.


This article is part of the commercial publication 'Copenhagen Fintech'. Click here to view all articles