back Back

Saxo Bank announces open banking partnership with Mastercard

By Gloria Methri

September 21, 2023

  • Denmark
  • Europe
  • FinTech
Share

Mastercard, Saxo Bank, Denmark, Europe, Open Banking Payments, FinTechSaxo Bank and Mastercard have partnered to implement open banking payments in the bank’s investment platforms, making it seamless for customers to transfer money into their investment accounts. Saxo Bank customers will no longer need to log in to a separate bank account to initiate a manual transfer into their investment account.

The Saxo Bank and Mastercard partnership is already enabling a better user experience. According to the bank, instant funding has improved since launch with around 20% of new funds coming through the new module when Saxo Bank customers add money or “top up” their investment accounts using open banking.

“We are thrilled to already see a positive impact on our customers’ experience as a result of our partnership with Mastercard and we are eager to explore more opportunities to innovate financial services experiences that can have a real impact on our growing client base and make it easier for them to become invested,” said Camilla Dahl Hansen, Global Chief Experience Officer at Saxo Bank.

“As one of the first movers in the industry to embed open banking payments, our extensive experience gives us a strong advantage as one of the most intuitive investment platforms out there.”

Bart Willaert, executive vice president of International Open Banking at Mastercard said, “Through our partnership with Saxo Bank, we are enabling simple, safe financial experiences for their customers powered by our open banking technology and leveraging the breadth of our global network to facilitate the bank’s expansion into new markets.”

Saxo Bank customers in Denmark can now top up their investment accounts using Mastercard’s open banking technology. The payments feature is set to be rolled out across additional European markets as a next step.

Mastercard’s open banking solutions enable the safe sharing of financial data between trusted parties to create more innovative financial services experiences, expand payment choice, provide insights to support financial well-being, enable secure payments, and support account verification and lending decisions – helping people, businesses and economies flourish in a more connected world.

Previous Article

September 21, 2023

Agam Capital, American Equity Life & Fintech Blue Solutions to offer life insurance product in India

Read More
Next Article

September 21, 2023

PayU India bolsters payment experience on WhatsApp business platform

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Denmark

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 23, 2024

4 BNPL platforms providing financial freedom to consumers in MENA

Read More

July 23, 2024

Paytm & Axis Bank to offer POS solutions to merchants

Read More

July 23, 2024

Klarna integrates Sofort payment service with Klarna Payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024