What Bankdata does

Bankdata is a Denmark-based technology services consortium founded in 1966 that develops and operates the core banking, payments, capital markets, and digital channel infrastructure for eight Danish member banks: Jyske Bank, Ringkjøbing Landbobank, SJF Bank, Skjern Bank, Djurslands Bank, Kreditbanken, Nordfyns Bank, and AL Sydbank. Its platform serves approximately 1.7 million retail customers and 200,000 business customers, processing roughly 86 million transactions per day across products including mobile banking, web banking, advisor systems, card payments, and a capital markets platform built in collaboration with Murex that handles approximately DKK 300 billion in daily FX and derivatives volume. The technology stack combines modern Java microservices (Spring Boot, Quarkus) running on Kubernetes orchestrated via Red Hat OpenShift with legacy COBOL mainframe systems for core banking, supported by PSD2 Open Banking APIs following the Berlin Group Standard, Kong API gateway, Curity identity management, and a Quarkus-based cloud-native layer. Bankdata additionally operates a natural-language AI transaction search assistant, fraud and AML anomaly detection, and an open-source agentic AI framework for COBOL-to-Java modernization developed with Microsoft's Global Black Belt Team.

Revenue operates on a cost-recovery basis: FY2025 revenue was DKK 1.933 billion (FY2024: DKK 1.967 billion), with the company explicitly not designed to generate profit (FY2025 result: DKK 4.5 million). Member banks collectively govern Bankdata, with the board chaired by John Fisker, CEO of Ringkjøbing Landbobank, and revenue simply reflects the agreed IT cost allocation across the consortium. Distribution is exclusively direct to owner banks plus PSD2-compliant APIs for third-party providers via a Developer Portal. The company is headquartered in Fredericia with engineering offices in Silkeborg and Aarhus, employs roughly 1,000 staff, and is undergoing a planned CEO transition in 2026 from Esben Kolind Laustrup to Peter Braad Olesen (formerly McKinsey partner).

Name

Bankdata

Legal name

Bankdata

Website

https://bankdata.dk

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bankdata is a Danish IT consortium, owned by eight banks, that develops and operates core banking, payments, and digital channel software serving roughly one third of Denmark's population through ~1.7M retail and 200K business customers on a cost-recovery, non-profit basis.

Ownership category

akta.pro rank

Product category

Banking Software Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

akta.pro secondary industries

Account Aggregation & Connectivity (Multi-bank linking) (FSAGACAA), Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM)

Keywords

• Core banking software
• Open banking APIs
• Payment infrastructure
• Capital markets systems
• Mobile banking platforms

Headquarters

HQ city

Fredericia

HQ country

Denmark

HQ region

Europe

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. IT Services for Member Banks: Bankdata is a jointly owned software company where revenue reflects the IT costs of its owners. The company is not designed to generate profit but to deliver as much functionality as possible within the financial framework set by its owners. Revenue decreased from DKK 1.967 billion in 2024 to DKK 1.933 billion in 2025.
2. Open Banking API Services: PSD2-compliant API services provided to third-party providers through the Developer Portal, enabling account information and payment initiation services

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Bankdata is a technology services consortium jointly owned by eight Danish banks that develops and operates a comprehensive banking software platform, delivering mobile banking, web banking (netbank), advisor systems, payment infrastructure, capital markets trading systems, card payment solutions, CRM, risk management, and PSD2 Open Finance APIs for approximately one third of Denmark's population. The company processes 86 million transactions daily, is structured as a not-for-profit cost-recovery entity, and combines modern cloud-native microservices with mainframe reliability for mission-critical financial operations.

Product overview

Bankdata is a technology services consortium providing a comprehensive banking software platform to Danish banks. The company develops mobile banking, web banking (netbank), advisor systems, payment infrastructure, capital markets systems, and card payment solutions. Additional offerings include a PSD2 Open Finance API for third-party providers and portfolio analytics capabilities powered by Amundi Technology's ALTO platform. Bankdata delivers approximately one million daily logins and processes 86 million transactions through its core systems for approximately one third of Denmark's population.

Differentiator

Problem solved

Functional benefit

Products and services

• Mobile Banking Mobile banking application enabling retail and corporate customers to access accounts, view transactions, manage finances and conduct banking services on mobile devices; powers member-bank mobile experiences.
• Web Banking (Netbank) Online banking platform providing comprehensive account management, payments, and financial services through web browsers for member-bank customers.
• Advisor Systems Digital tools supporting daily interactions between bank advisors and customers, including the new CRM platform enabling personalized service, lead identification, and opportunity tracking.
• Payment Infrastructure Complete payment processing solutions including domestic transfers, SEPA payments, instant payments, cross-border transfers, and paymentslip processing for member banks.
• Capital Markets Platform Platform for foreign exchange and derivatives trading, risk management, and capital markets operations; built in collaboration with Murex and used by over 200 specialists processing approximately DKK 300 billion daily.
• Card Payment Solutions Card payment processing systems and a card management platform for issuing and managing card products across member banks.
• PSD2 Open Finance API PSD2-compliant APIs enabling third-party providers to access payment account data and initiate payments, following Berlin Group Standard version 1.3 with OAuth2 SCA.
• Customer Relationship Platform Digital platform for customer relationship management enabling advisors to provide personalized service, identify leads, and track opportunities.
• Portfolio Analytics and Reporting API-based portfolio analytics and reporting module for member banks, powered by Amundi Technology's ALTO platform.
• Accounting System Common accounting system being developed as a shared development initiative for member banks.

Quantifiable outcome

• Unit cost reduction of approximately 17% for member banks
• +2 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• Amundi TechnologycoreTechnology or Integration · 26 February 2026Bankdata selected Amundi Technology's ALTO Wealth & Distribution solution to deliver API-based portfolio analytics and reporting to its member banks. The modular platform enables richer client reporting and streamlined analytics capabilities, serving approximately one third of Denmark's population following its 2025 integration of aixigo.
• Red HatcoreTechnology or Integration · 18 September 2025Bankdata uses Red Hat OpenShift as its cloud platform for container orchestration and microservices deployment, supporting its cloud-first strategy and modernization of banking systems.
• MicrosoftcoreStrategic or Co-development Partner · 8 July 2025Bankdata and Microsoft's Global Black Belt Team developed an agentic AI framework capable of semi-autonomously converting COBOL code into Java. The framework has been released as open-source on GitHub (Azure-Samples/Legacy-Modernization-Agents).
• CuritysupportingTechnology or IntegrationCurity identity management solutions used as part of Bankdata's technology stack for authentication and authorization services.
• KongsupportingTechnology or IntegrationKong API gateway used for managing and orchestrating Bankdata's Open Banking APIs.
• QuarkussupportingTechnology or IntegrationQuarkus framework used for building cloud-native applications as part of Bankdata's Java-based technology stack.
• Spring BootsupportingTechnology or IntegrationSpring Boot framework used for Java application development at Bankdata.
• KubernetessupportingTechnology or IntegrationKubernetes container orchestration used for managing and scaling Bankdata's microservices architecture.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• BEC (Bankernes EDB Central): BEC is Denmark's other major banking datacenter consortium, owned by a different set of Danish banks including Jutlander Bank, Spar Nord, and others. It is the most direct peer — same country, same banking-IT-services model, same consortium ownership structure. AL Sydbank is replacing BEC with Bankdata, indicating direct competitive rivalry.
• SDC (Skandinavisk Data Center): Skandinavisk Data Center is the Nordic banking IT services consortium owned by Danish and Faroese banks, providing core banking, payments, and capital markets systems. It competes with Bankdata for Danish and Nordic bank clients and shares the consortium ownership model and core banking technology focus.

Broad incumbents

• Tietoevry: Tietoevry is a large Nordic IT services and software company that serves Nordic banks with core banking software, payment platforms, and digital banking solutions. It is a broader incumbent in the Nordic banking technology space, offering overlapping capabilities as part of a wider portfolio spanning multiple industries.
• Temenos: Temenos is a global provider of core banking, payments, and wealth management software to banks in over 150 countries. While not focused on Denmark specifically, it competes in the broader core banking software market where Bankdata operates and represents the kind of global incumbent Bankdata would face if expanding internationally.
• Capgemini: Capgemini is a global IT services firm with a large financial services practice offering core banking modernization, PSD2 implementation, and digital banking services. It serves as a systems integrator and modernization partner that competes for the consulting and platform work adjacent to Bankdata's offerings.
• FIS (Fidelity National Information Services): FIS is a global financial technology provider offering core banking, payments, capital markets, and wealth management software. It represents the largest global incumbents competing in the same product categories (core banking, capital markets, payments) where Bankdata operates.

Emerging players

• Thought Machine: Thought Machine provides cloud-native core banking technology (Vault) used by global banks including Lloyds, JPMorgan, and Standard Chartered. It represents the emerging cloud-native banking platform category that could disrupt traditional datacenters like Bankdata over time, particularly if member banks demand cloud-native capabilities.
• Mambu: Mambu is a SaaS core banking platform serving neobanks and traditional banks globally. While focused more on challenger/embedded banking use cases, it competes in the broader core banking technology space and represents a cloud-native alternative architecture that could pressure traditional datacenter models.

Others

• Tata Consultancy Services (TCS): TCS is a global IT services provider with a major banking and financial services practice offering core banking, payments, and digital transformation services. It is thematically comparable to Bankdata as a banking-IT services provider, though it operates on a vastly different scale and ownership model.

Regional players

• Netcompany: Netcompany is a Danish-headquartered IT services and software company with a strong Nordic presence and significant Danish public sector and financial services work. It is a regional peer providing comparable IT services and competes for Danish technology talent with Bankdata, though its banking footprint is less concentrated than Bankdata's.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bankdata

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bankdata