Spar Nord, Nykredit and Arbejdernes Landsbank have joined forces on the digital development platform Young Money.
Young Money is a fintech platform operated independently of the three banks’ organisations. The platform functions as a separate unit on which new ideas and improvements may be developed and tested quickly.
The purpose of Young Money is to create new digital products and services for both private persons and the corporate sector within areas where the three banks are not competing with each other. Such areas include automation of small loans or rethinking of the banks’ netbank solutions which continuously require adjustments and new integrations.
The Young Money collaboration will also be opened up to the fintech industry, and relevant fintech companies may be invited to participate in development projects.
Young Money was originally lauched by Spar Nord as a service where parents and children can collaborate on children’s daily budget and financial understanding.
Accura advised Spar Nord in connection with the establishment of the collaboration with Nykredit and Arbejdernes Landsbank.