Copenhagen FinTech contributes to the development of a strong ecosystem for entrepreneurs within fintech in Denmark, so talented entrepreneurs can mature and contribute to secure innovation and financial growth within the area of finance IT. A key element to the success of the ecosystem is the establishment of the Copenhagen FinTech Lab. The Lab serves as hub for fintech entrepreneurs in Denmark and facilitates collaboration between all actors of the ecosystem.
Effective and agile processes pose an increasing challenge for financial institutions. Internationally, Denmark and the Danish financial sector are performing well within processes and digitisation – this applies both internally in businesses, across businesses and in the public sector. The Innovation Network has built a large network of researchers and businesses, which already actively work to strengthen processes both internally in organisations and across value chains and businesses, and in relation to customers.
Cybersecurity is a core area within finance, as secure IT systems and trust in systems are prerequisites for modern financial businesses and the citizens’ use of financial services. Regulation, privacy and co-operation between public and private actors will be important for the development. At the same time, the need for skilled cybersecurity professionals is urgent. Therefore, Copenhagen FinTech has, in alliance with Danish Defence Intelligence Service, IBM and the Technical University of Denmark, created a cybersecurity specialisation in the master’s program at the Technical University of Denmark, and work to create conferences and research projects with key actors across the safetycritical industries.
Payments, Platforms and Usability
Financial services are becoming increasingly mobile, and customers demand flexible and user-friendly services. The area of platforms, payments and usability develops rapidly, and Denmark has exciting opportunities within this particular area of Finance IT. Copenhagen Fintech will in an upcoming series of meetings explore various aspects of user experience such as the GDPR, Privacy Assistants, Privacy policies, ownership of data.
The financial sector is facing major computational, technological and regulatory challenges. There is an increased demand for systems and methods that can handle the requirements to manage large amounts of data, performance, risk, transparency, reporting to authorities, counselling and investments. It requires strong competencies within computational finance, finance, mathematics, IT and computer science. Copenhagen FinTech has developed this environment in Denmark through several initiatives, including the establishment of the research centre HIPERFIT at the University of Copenhagen, and a large network within the area, together with other universities and businesses.