Mastercard has significantly strengthened its presence in the Nordics in recent years and has now unveiled a collaboration with fintech startup Copenhagen Fintech to drive innovation in the region.

Last year, Mastercard snapped up Danish open banking technology provider Aiia and recently unveiled a partnership with Finnish card-as-a-service platform Enfuce.

According to Mastercard, it is committed to empowering Copenhagen’s growing fintech community to help grow and strengthen the booming Nordic fintech scene.

“We want to make the fintech environment in Denmark the best in the world”

Thomas Krogh Jensen, CEO Copenhagen Fintech.

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 programmes.

Rune Mai, senior vice president, Mastercard & co-founder of Aiia, 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, 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.”

Thriving fintech ecosystem

Since Copenhagen Fintech was established in 2016, startups, new jobs, partnerships and investments in fintech have risen annually.

The strength of the fintech environment in Denmark lies in partnerships, collaboration and knowledge sharing, according to Thomas Krogh Jensen, CEO of Copenhagen Fintech.

He says: “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.

“We want to make the fintech environment in Denmark the best in the world, and therefore we must have partners with a local presence and a strong international reach. The collaboration opens new innovative opportunities for all parties in the ecosystem.”

The cooperation with Mastercard includes 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 also participates as a sponsor and presenter at Nordic Fintech Week, taking place on 27 to 28 September in Copenhagen.

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