Danske Bank-New fintech collaboration gives companies an overview and advice in difficult times

Danske Bank makes Axeptia Credit Intelligence available to business customers i Denmark, Sweden and Finland after a pilot trial period in Norway.

The solution makes it easier for our business customers to keep track of who owes the company money and how good they are at paying their invoices to the company.

In today’s climate, it is difficult to predict economic development. For this reason, we have Danske Bank receives an increasing number of requests from business customers who want help to get an overview of the financial situation of their customers.

– The latest bankruptcy figures from Statistics Denmark are higher than in a long time. Although there may be several reasons for this, the fact is that uncertainty among our customers is increasing as a result. They want to know whether customers pay what they owe on time, or whether there is a risk of non-payment. Add to this the general uncertainty that characterizes the current economic situation, and what emerges is a longing among companies for a clear overview and predictability when it comes to their customers, says Claus HarderGlobal Head of Markets and Transaction Banking at Danske Bank.

Companies yearn for a clear overview and predictability when it comes to their customers.

Claus Harder

Global Head of Markets and Transaction Banking, Danske Bank

The trend towards companies wanting more data and insight into their customers is nothing new, and therefore we are constantly working to find solutions and enter into partnerships that will be beneficial to our customers.

Norway’s Axeptia Credit Intelligence is an example of just such a solution and is now to be rolled out Denmark, Sweden and Finlandwhere it can give companies an overview of their customers’ challenges and collect all relevant information in one place:

‘Norway have had the solution in operation for a while, and what we hear is that once a company has started using the solution, they cannot do without it. Moreover, this is not a solution offered by anyone else, at least according to our research, we say Claus Harder.

What drives us is the desire to develop tools and solutions that can benefit our customers, and we have realized that we can achieve our goals faster by working with partners such as Axeptia.

Claus Harder

Collects and visualizes information

Customers access the tool through an app or via Danske Bank’s financial platform for business customers, which is called District.

The program assimilates data from the customer’s ERP system, credit information provider and debt collection provider and visualizes it to provide an overview and ease of use.

Founder and CEO of Axeptia Credit Intelligence, Per Nestor Warp, explains that his firm is committed to helping companies make decisions that are based on data and accurate information. Axeptia gives decision makers a coherent overview of the vast amounts of information they possess and guides them towards what they should focus on. The system also allows companies to act intelligently and thus ensure faster payments from customers.

Fintech collaboration is a demanding process for all parties involved, and the journey towards Danske Bank’s The Nordic rollout of Axeptia Credit Intelligence has taken more than three years.

On the other hand, the ground has now been laid for several projects where our customers’ needs are met through solutions developed with external partners.

“What drives us is the desire to develop tools and solutions that can benefit our customers, and we have realized that we can achieve our goals faster by working with partners like Axeptia,” says Claus Harder.

More about Axeptia

Axeptia is a credit information platform built by experts from the credit and collection industry. The platform collects all relevant information in one place, so businesses can focus on their core business instead of collecting data and insights.

Axeptia helps businesses reduce customer risk and improve liquidity. Businesses get insights and alerts that enable them to act proactively – and an intuitive interface that allows them to maintain control of their customer portfolio.