Denmark establishes FinTech hub

The Financial Services Union Denmark, the City of Copenhagen and the Danish Bankers Association have collaborated to form Copenhagen FinTech – a new association that will develop an ecosystem for FinTech entrepreneurs in the city.

Copenhagen is currently home to a range of FinTech companies, but many believe it needs investment if the city is to establish itself as a hub for innovation. The City of Copenhagen hopes to see growth and jobs as a result of the new efforts – following a study which showed that FinTech has the potential to create 10,000 new jobs in Denmark.

The association is launching, amongst other things, a co-working space under the name Copenhagen FinTech Lab, where entrepreneurs take lodgings and become part of a FinTech environment with sparring from established companies and other entrepreneurs.

Thomas Krogh Jensen, who will become CEO of the new venture on 1 December, said: “The future is digital – also in the financial sector – and there is a huge potential for developing products that can change the way we pay or run financial business.

“Denmark has a huge potential to become a strong FinTech centre in the Nordic region. The scene is set with a top class financial infrastructure, innovative entrepreneurs, an academically strong university environment, a digitally-oriented public sector, IT-ready citizens and an appointment as one of the best countries in the world, in which to set up a company.”

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