Danish challenger Kompasbank lands banking licence
A new Danish challenger bank has received a banking licence to serve the small and medium-sized enterprises (SMEs).
Kompasbank says it differentiates itself from the competition through its “new digital infrastructure”. It says users can use “modern digital tools to collect and process data much more efficiently”.
The bank was founded in 2018 by Michael Hurup Anderson, a Saxo Bank and Deloitte veteran. He’s backed by professional investors including Soren Fryland Moller, owner of IPQ Capital.
Alongside Hurup is co-founder Mads Koefoed, who also worked at Saxo Bank, and spent almost two years as a data scientist at RavenPack.
The bank’s website provides sparse details about its initial products or services, though the lender plans to launch by the middle of 2021.
Kompasbank is undergoing a hiring spree, with no less than nine positions available to new applicants.
The bank is seeking a software engineers experienced in Amazon Web Services and with “an interest in cybersecurity”.
“Small and medium-sized enterprises are essential to our society,” the new lender writes on its website.
“They are the engine of growth in the economy, they create innovation and innovation, and this is where jobs and value are created for all of us.
“With Kompasbank, the financial world is entering a new digital age. It will be crucial for small and medium-sized enterprises.”