Financial services provider MasterCard and Saxo Bank announce strategic partnership aimed at revolutionizing the way clients manage their investment accounts through open banking technology。

MasterCard's Open Banking Technology

This innovative collaboration enables users of Saxo Bank's investment platform to leverage the power of MasterCard's open banking technology to seamlessly transfer funds into their accounts。

Unlike the traditional method of requiring customers to log in to a separate bank account and manually transfer funds, this new feature simplifies the process and improves convenience and efficiency。

Bart Willaert, Executive Vice President of MasterCard International Open Banking, stressed the importance of this partnership: "Through our partnership with Saxo Bank, we leverage our open banking technology and extensive global network to provide customers with a secure financial experience to facilitate the bank's expansion into new markets.。"

The service has been successfully launched in Denmark, significantly improving the overall customer experience。It is worth noting that the inflow of new funds into investment accounts through open banking transactions increased significantly by 20%。Encouraged by the initial success, the two companies are now preparing to launch this open banking service in the European market.。

Camilla Dahl Hansen, Global Chief Experience Officer at Saxo Bank, expressed her passion for the positive impact the partnership has had on customers.。She highlighted her mission to continuously innovate the financial services experience with the aim of benefiting a growing customer base by streamlining the investment process.。

"The partnership with MasterCard has had a positive impact on our customer experience, and we are eager to explore more opportunities for innovative financial services experiences that can have a real impact on our growing customer base and make it easier for them to earn a return on their investment," Hansen said.。

Cross-border payments with Paysend

This partnership is in line with MasterCard's in-depth efforts to promote financial services innovation.。Recently, the company joined forces with Paysend, a British fintech company, to facilitate cross-border payments for small businesses, expanding its presence in the fintech sector.。

The partnership between MasterCard and Saxo Bank marks a critical moment in the open banking sector, providing customers with a simpler and more efficient way to manage their investments。As they set their sights on the European market, the move promises to reshape the future of financial services by providing a user-friendly, secure and streamlined approach to investment management.。