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SparNord being incubated in the hot house of FinTech

[fa icon="calendar"] May 8, 2017 3:17:00 PM / by Emilia Flockhart

ICDK SV is now home to Spar Nord's first office outside of Denmark.

Danish bank Spar Nord have sent their head of innovation, Kim Østergaard to Silicon Valley, to establish relationships and network with other Valley based FinTech innovators. 

Kim from SparNord and Anders from ICDK speaking with Beerud from GupShup

Kim from SparNord and Anders from ICDK speaking with Beerud from GupShup at the FinTech Academy Webinar on Bots. 

The world of banking is being disrupted, a fact that Spar Nord is no stranger to. Rather than shy away from the new challenges presented by the changing sector, Spar Nord recognises the importance of the bank being at the forefront of technology, so much so that they have launched a new innovation strategy.

The innovation strategy will ensure the organisation's ability to continue to evolve, adapt and innovate, making the bank more attractive to both current and new customers.

At the core of the innovation strategy, is having a physical presence in Silicon Valley. However the purpose of the presence in Silicon Valley, is not to drive new business, but to learn how others are adapting their concepts to the new digital age, primarily by building a network and establishing relationships which will later benefit customers.

Spar Nord’s Head of Innovation, Kim Østergaard will begin by being based out of ICDK SV for two months, after which he will take regular business trips back and forth between Denmark and the US, to continue to expand his network with other innovation-driven companies.

Silicon Valley is the world's epicentre when it comes to technology. The largest tech companies are based in the area, which provides the right framework for Spar Nord to pursue new knowledge, which will hopefully contribute to helping the bank stand strong in the future.

spar-nord-logo.pngKim Østergaard said;

It is no secret that banks are constantly challenged to create new solutions for development. It is, therefore, vital that we not only think proactively, but innovatively to keep up with the times, and not let anyone who dares to seek and trial new technology, to a greater extent than us, overtake us.

The new office at ICDK is not the only element of the strategy. Spar Nord also have a development department called Future Finance, which brings together Spar Nord's partners with FinTech startups such as SubHub and Ernit, to help redefine Spar Nord’s concepts so they are best tailored to their customers. The presence in Silicon Valley is also only the start for Spar Nords expansion overseas, they also plan to establish offices in both New York and London.

If you are considering expanding your business, and want to start by establishing a base in Silicon Valley, even if just for a few months, then Innovation Center Denmark Silicon Valley is the perfect launch pad. With highly flexible and competitive lease terms, hot desking opportunities, as well as the option of having a virtual office with a Silicon Valley address, there's no easier way to enter the Valley's ecosystem. Get in touch to learn more.

If you are a startup or corporate operating within the FinTech sphere, then be sure to take a look at our FinTech Academy

Topics: FinTech Academy, Fintech

Emilia Flockhart

Written by Emilia Flockhart

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