COPENHAGEN, Denmark, May 7, 2024 /PRNewswire/ — Joining United Fintech’s circle of institutional investors, Danske Bank takes a seat at the board of a leading industry-neutral Digital Transformation Platform alongside BNP Paribas and Citi to support the bank’s Forward ’28 strategy from a digital frontier. A move signalling that shared collaboration is the way ahead for financial services as global banking enters a new era of collective innovation.

Danske Bank A/S has become the third institutional investor in United Fintech Group Limited securing the Nordic bank a rotating board seat in the rapidly growing industry-neutral Digital Transformation Platform:

“Danske Bank is very excited to join United Fintech and sees great opportunities as per both collaboration within the existing ecosystem of fintech companies, but also in being closer to the future fintech investment processes and decisions. The partnership allows Danske Bank to expand its exposure to innovative solutions, ultimately benefiting our customer value proposition,” says Claus Harder, Head of Transaction Banking & LC&I Business Development with Danske Bank.

Digitally supporting the strategy

The investment will enable swift access to exploration of cutting-edge fintechs through United Fintech’s platform. Building on collective efforts along +200 other financial institutions, this will also allow Danske Bank to benefit from new strategic partnerships and scalable ways of diversifying its digital ambitions – and thus support the bank’s Forward ’28 strategy across areas such as corporate banking, capital markets, wealth management and API integrations:

“With a company backbone highly aligned with our Forward ’28 strategy, United Fintech is an investment that provides a digital edge and competitive advantage to support our strategy in terms of both relevance and time-to-market when it comes to future solutions. Furthermore, the investment in United Fintech will generate possibilities to engage directly with fintechs that are subscale; to support their growth while simultaneously helping fuel our own digital transformation and growth strategy,” elaborates Claus Harder.

United Fintech: Broad industry shift underway

The announcement of Danske Bank’s investment comes just months after it was published on February 27 that BNP Paribas and Citi entered as institutional investors in United Fintech.

According to United Fintech’s founder and CEO, Danske Bank’s investment is not only a testimony to the Nordic bank’s commitment to shared collaboration on an industry-neutral platform, but the financial industry as a whole, as the Unithed Fintech confirms it is also in advanced talks with further strategic investors to join its transformative journey, signalling a broad industry shift towards collaborative fintech innovation as global banking enters a new era:

“We are delighted that Danske Bank has decided to invest and join United Fintech’s industry-neutral Digital Transformation Platform. Their innovative and forward-looking approach to digital transformation is a cornerstone in our mission to build a transformative platform. This commitment is instrumental in addressing the industry’s most pressing challenges through collaboration, rather than isolated efforts. By uniting the strengths of Danske Bank and our other banking partners, we are setting the stage for a new era in banking where we move beyond traditional silos to propel the industry into the digital age,” ends Christian Frahm, CEO and founder of United Fintech.

About Danske Bank • For more than 150 years, Danske Bank has helped enable growth and development in society. The bank has developed in tandem with the societies it exits in providing advisory services, expertise and financial solutions that have helped individuals, families, businesses, and organisations to realise their ambitions and potential. The bank helps customers in eight countries, has more than 200.000 small and medium-sized business customers and more than 35 percent of large corporates in the Nordics. With long-term sustainable development an ambition the bank will continue to work every day to be the best possible bank, for the benefit of customers, employees, shareholders and the societies it is part of.

About United Fintech • Founded in 2020, United Fintech is an industry-neutral Digital Transformation Platform where global financial institutions and cutting-edge technology providers come together to unleash their full potential and enable the future of finance. United Fintech remains on the frontier of innovation by acquiring engineering-led fintechs within Capital Markets, Wholesale Banking and Wealth Management under a central umbrella and in just four years, the company has acquired five fintechs and is on track to acquire many more. In 2024, United Fintech received investments from BNP Paribas and Citi.

Contact • For more information, please direct media enquiries to:

Ulrik Scheibye / [email protected] / +45 4514 1400
Nic. Rossen / [email protected] / +45 2072 9972

Download pictures of Claus Harder of Danske Bank and Christian Frahm of United Fintech here:

Harder and Frahm 1

Harder and Frahm 2

Harder and Frahm 3

Harder and Frahm 4

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ZURICH, May 7, 2024 /PRNewswire/ — Q1 2024 Results

Further strong market share gains, disciplined execution

• Revenues flat yoy, outperforming markets; Adecco’s relative revenue growth +600 bps
• By GBU, Adecco, +1% yoy, of which APAC +14%, Southern Europe & EEMENA +8%, DACH +7%; LHH -5%, with Career Transition & Mobility +9%; Akkodis -2%, with Consulting +5%
• Healthy 19.8% gross margin, +20 bps qoq, -100 bps yoy, mainly reflecting current business mix; pricing firm
• SG&A expenses, excl. one-offs, €978 million, reflecting strong G&A savings, focus on productivity
• Resilient 2.8% EBITA margin excl. one-offs, -30 bps yoy, or -10 bps yoy when excluding the impact from the timing of FESCO JV income, with gross margin developments substantially mitigated by rigorous cost discipline
• Operating income €122 million, -12% yoy, constant currency; Net income €73 million, -20% yoy
• Basic EPS €0.44, -20% yoy; Adjusted EPS €0.59, -18% yoy
• Improved cash performance: free cash flow +€72 million yoy, cash conversion 73%
• On track to deliver ~€150 million G&A savings, net, in run-rate terms, mid-2024

Denis Machuel, Adecco Group CEO, commented:

“The Group demonstrated strong operational progress in the first quarter. We achieved revenue stability and maintained firm pricing discipline amidst challenging market conditions while driving further cost improvement across the business. Adecco delivered significant market share gains with a healthy gross margin. Akkodis faced ongoing tech staffing headwinds while achieving solid growth in its higher-value consulting business, which lifted overall profitability. In LHH, Career Transition and Ezra once again outperformed, and the business delivered an improved margin. We remain laser-focused on the elements within our control – competitive outperformance and market share expansion, together with cost discipline. The G&A savings programme is on track, and at the same time, the Group is preserving resources, where appropriate, to ensure it can swiftly capitalise on the future market rebound.”

Contact: Investor Relations, +41 (0)44 878 88 88 

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DUBAI, UAE, May 7, 2024 /PRNewswire/ — TerraPay, a leading global money movement company, has joined forces with Multipass, a bank challenger in the financial technology sector, to redefine cross-border payment solutions for corporate customers. This strategic collaboration aims to offer unparalleled reliability, efficiency, and cost optimisation to businesses operating in the UK, Europe, and beyond.

Through this partnership, Multipass gains access to TerraPay’s extensive global payments network, expanding its reach to new jurisdictions and local payouts in multiple currencies, ensuring efficient cross-border payment solutions to its clients. Both organizations offer 24/7 customer support and dedicated personal account managers, emphasising the importance of human interaction alongside technological advancement.

Sudhesh Giriyan, President – Cross-Border Payments at TerraPay, expressed enthusiasm about the partnership, stating, “TerraPay is thrilled to collaborate with Multipass to revolutionize cross-border payments for their corporate customers. This partnership underscores our dedication to providing innovative solutions that drive efficiency, reliability, and cost optimisation.”

Rami Chedid, CEO of Multipass for the UAE and the Middle East, commented, “Our partnership with TerraPay represents a significant step forward in our commitment to deliver secure and fast payment solutions to medium-sized entrepreneurs trading internationally. All while prioritizing security and efficiency in speed and costs. As we continue to work on our expansion plans in the UAE, this trusted partnership gives a new level of importance, offering our clients practically a global payment reach.”

He continued to state that Multipass has initiated the application process for a financial services license in UAE to be regulated by The Dubai Financial Services Authority (DFSA), and having received the in-principal approval, the company will launch operations very soon. “This operational expansion will broaden the global payment reach for UAE-based businesses from the very first day, providing them with a competitive edge and opportunities for business growth”, he explains.

About TerraPay:

TerraPay simplifies global money movement – by providing a single connection to the most expansive cross-border payments network regulated in 31 global markets and enabling payments to 144 receive countries, 210+ send countries, 7.5Bn+ bank accounts and 2.1Bn+ mobile wallets. TerraPay is on a mission to connect a borderless financial world, making moving money everywhere instant, reliable, transparent, and fully compliant. TerraPay pushes the boundaries for global businesses – ranging from banks, fintechs and money-transfer operators to travel businesses, creator economy platforms and e-commerce marketplaces – while driving financial inclusion in even the most inaccessible markets. Founded in 2014, TerraPay is headquartered in London, with global offices in Bangalore, Dubai, Miami, Bogota, Dar es Salaam, Kampala, Hague, Dakar, Joburg, Nairobi, Milan, Singapore and is expanding rapidly, having received funding from leading investors, including the IFC (the World Bank), Prime Ventures, Partech Africa, and Visa.

About Multipass:

Multipass a part of Dyninno Group of Companies, is a bank challenger that provides modern financial solutions for businesses with cross-border activity. It offers a multi-currency business account with an instant FX desk and a corporate card that allows international companies to manage their bank transfers in foreign markets in a simple way. Multipass’s customer offering includes local UK, US, and EU (European Union) accounts, as well as a single multi-currency IBAN supporting over 70 currencies and 200 global payment destinations. The company was founded in 2017 and is led by Dmitry Tsymber.

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[email protected]

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