Mastercard Teams Up with Copenhagen Fintech to Strengthen Collaboration with Nordic Fintechs

Copenhagen has a strong fintech ecosystem and a “leading” position among fintech hubs globally, according to an update from Mastercard (NYSE: MA).

The hub connects both start-ups, established companies and organizations “focusing on innovation and new opportunities.” Mastercard is “committed to empowering the growing fintech community through a collaboration with Copenhagen Fintech, a fintech start-up based in Copenhagen, Denmark.”

Over the past few years, Mastercard has “strengthened its presence in Denmark.” This includes “the acquisition of Nets´ Corporate Services business and the leading open banking platform Aiia.” In less than two years, Mastercard has “grown from just a handful of employees to hundreds in Copenhagen.” The ambition is “to create a strong base and develop existing and new solutions for Denmark, the Nordics, and the whole world.”

Mastercard and Copenhagen Fintech are now “establishing a strengthened collaboration that brings together existing and new activities with a joint focus on growth, knowledge sharing and innovation opportunities through multiple programs and services ranging from open banking to start-up programs.”

Rune Mai, Senior Vice President, Mastercard & Co-Founder of Aiia, founded in Denmark and now one of Europe’s leading open banking platforms, said:

“Copenhagen Fintech is a vibrant innovation hub that not only creates successful startups but has become a center for technology and innovation that activates and inspires everyone in the fintech ecosystem. We are proud of being an active part of that – not least because we have been involved in the fintech landscape for more than a decade with Spiir and Aiia. In the new capacity as Mastercard, we now have the opportunity to help new fintechs take Nordic financial services innovation even further in close collaboration.”

Lars Asger Petersen, Senior Vice President, Mastercard and CEO of Mastercard Payment Services Denmark, providing solutions for digital payment of bills, account-to-account transfers such as Betalingsservice and real-time payments adds:

“We support Copenhagen Fintech’s ambition to develop Copenhagen as one of the leading fintech hubs, not only in the Nordics, but also globally. We look forward to strengthening and expanding the existing collaboration with a focus on development and growth with international perspectives.”

Since Copenhagen Fintech was established in 2016, “the number of startups, new jobs, partnerships, and investments in fintech has increased year after year.” The interaction between innovative startups and the established industry is “a part of the recipe for success, according to Copenhagen Fintech.”

Thomas Krogh Jensen, CEO Copenhagen Fintech, and continues:

“The strength of the fintech environment in Denmark lies in partnerships, collaboration and knowledge sharing. We are proud that we can now expand the collaboration with Mastercard, which not only has a significant position within digital payment solutions and technology globally, but also sees the potential in Denmark and the Nordics as a global, digital frontrunner.”

The cooperation with Mastercard includes, “among other things, consulting and development for startups in the Copenhagen Fintech Lab and Mastercard Lighthouse, a Nordic and Baltic FinTech initiative that is an innovation project and accelerator program for startups.”

Mastercard supports new fintechs “through its Start Path Opening Banking program, and also participates as a sponsor and presenter at Nordic Fintech Week, which will be held on 27-28 September in Copenhagen.”

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