BNP Paribas, one of Europe's largest banks, has set their eyes on the Danish fintech stage. Through a partnership with Copenhagen Fintech, the big bank now allows Nordic start-ups to scale and grow globally.
When the global banking and finance group BNP Paribas meets with Danish fintech entrepreneurs, they are looking for two types of collaborations: to work on solutions that can be integrated into the bank's own platforms to improve the system and customers’ experiences, and to spot and support the entrepreneurs who have the potential to grow internationally.
Strengthens the entire fintech ecosystem
Copenhagen is traditionally not BNP Paribas’ hunting ground for new innovative solutions, but it has changed last year as Copenhagen Capacity – an investment promoting organization – introduced the big bank to Copenhagen Fintech and the Copenhagen fintech environment.
"Paris, London and New York, all have greater quantity than Copenhagen, but we have a quality that is really interesting for foreign financial companies – they just need to come out and meet the entrepreneurs. Thanks to BNP Paribas Danish fintech start-ups have been offered a solid opportunity for international collaboration. It strengthens the entire ecosystem and thus enhances the possibility of attracting even more foreign investors and start-ups to the Greater Copenhagen.”
- Anette Steenberg, Director of investment promotion, Copenhagen Capacity
Design and customer focus
BNP Paribas is represented in 75 countries with a total of 185,000 employees. The bank's activities broadly range from corporate and investment banking, to retail and asset management.
With more than 700 employees, BNP Paribas is one of the largest international banks in the Nordic region. And from their point of view, Copenhagen's fintech is a scene particularly interesting since Danish entrepreneurs both focus on, and understand design, user-friendliness and customer experiences.
“The Danish fintech sector experiences an important expansion with lots of talents, good ideas and early success stories. As a global bank with a strong focus on tech, we want to contribute to the promotion of Danish start-ups internationally.”
- Gustav Steuch, Managing Director, BNP Paribas
He is backed by the director of the bank's Nordic activities:
“We have great ambitions in the Nordic countries, and an important part of the strategy is to support Nordic companies with a focus on innovative growth.”
- Eirik Winter, CEO, BNP Paribas Group Nordic Region
Great opportunities to scale
In practice, BNP Paribas has entered into a partnership agreement with Copenhagen Fintech, the latter of which is already in the process of introducing the bank to a number of start-ups. In just a few years, Copenhagen Fintech has managed to establish a spot for innovation and cooperation between established players and start-ups in the Danish finance, insurance and pension industry.
More than 100 Danish and foreign start-up companies have benefited from Copenhagen Fintech's services, which include amongst others the managing of acceleration and incubation programs – and there is great excitement for the opportunities that BNP Paribas offers:
“Copenhagen Fintech sees good opportunities for developing the Nordic fintech scene through its partnership with BNP Paribas. The bank is well implemented in Central and Southern Europe, areas which are now of interest for many Nordic start-ups who are mature and ready for the next step. BNP Paribas is an attractive partner for Nordic start-ups and can contribute important resources for their development journey.”
- Sebastian Jensen, Head of Alliances, Copenhagen Fintech