Saxo Bank and MasterCard have announced a partnership that will see Saxo Bank implement open banking payments on the bank's investment platform, allowing customers to have a seamless experience when topping up their investment accounts. Saxo Bank users will no longer need to log into their bank accounts separately and fund manually.
Commenting on the partnership, Bart Willaert, Executive Vice President of International Open Banking of MasterCard, said, "Through our partnership with Saxo Bank, we're enabling simple, safe financial experiences for their customers powered by our open banking technology and leveraging the breadth of our global network to facilitate the bank's expansion into new markets."
"We're thrilled to already see positive impact on our customers' experience as a result of out partnership with Mastercard and we're eager to explore more opportunities to innovate financial services experiences that can have a real impact for our growing client base and make it easier for them to become invested," Camilla Dahl, Global Chief Experience Officer, Saxo Bank Hansen said. "As one of the first mover in the industry to embed open banking payments, our extensive experience gives us with a strong advantage as one of the most intuitive investment platform out there."
Saxo Bank users in Denmark can now top up their investment accounts via MasterCard's Open Banking technology. This payment feature will follow in other European markets.