FasterOikos

What FasterOikos does

FasterOikos is a Danish customer-owned cooperative bank (andelskasse) headquartered in Skjern, formed in December 2019 through the merger of Faster Andelskasse, founded in 1919, and Andelskassen Oikos. The bank serves private individuals, families, small and medium-sized businesses, and agricultural clients primarily in the Ringkøbing-Skjern region, with an additional regional office in Copenhagen. As an andelskasse it has no external shareholders; customers are simultaneously owners, and surplus is retained or redistributed to members rather than paid out as dividends to outside equity holders.

The bank offers a full-service retail and commercial product suite including current and savings accounts, loans, mortgages, investment products, pensions, and insurance. Its core technology infrastructure is the BEC (Bankernes EDB Central) shared banking platform, indicating a shared-services rather than proprietary technology operating model, supplemented by online and mobile banking channels and a physical advisory signature room for digital signing. Product surface is extended through a layered partnership ecosystem covering leasing (Partnerleasing), insurance (Købstædernes Forsikring), pensions (Nærpension, AP Pension), investments (Sparinvest/Bankinvest), and payment/cash services (Worldline/Nokas). The institution employs approximately 20 staff and is subject to ongoing Danish Financial Supervisory Authority (Finanstilsynet) thematic inspections across governance, credit, and IT outsourcing.

Revenue is generated principally through net interest income on loans and mortgages, supplemented by account and payment fees, advisory fees, and distribution commissions from partner-supplied pension, insurance, and investment products. Distribution is local and relationship-led, combining physical branches in Skjern and Copenhagen with digital channels, and customer acquisition is reinforced by community sponsorships and CSR activity in the Ringkøbing-Skjern area. Financials are not publicly disclosed, consistent with its cooperative, unlisted status.

Name

FasterOikos

Legal name

Faster Andelskasse

Website

https://fasteroikos.dk

Company type

Private

Founded year

1919

Operating status

Operating

Headcount range

11–50 employees

Short description

FasterOikos is a Danish customer-owned cooperative bank formed in 2019 from the merger of Faster Andelskasse (1919) and Andelskassen Oikos, serving private individuals, families, SMBs, and agricultural clients with full-service retail banking from Skjern and Copenhagen offices.

Ownership category

akta.pro rank

Headquarters

HQ city

Skjern

HQ country

Denmark

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue from interest on loans including mortgage loans (boliglån), business loans (erhvervslån), car loans (billån), and leasing arrangements for businesses.
2. Account and Transaction Fees: Fees from payment accounts, card transactions (Visa/Dankort, Mastercard), international transfers, and cash handling services.
3. Investment Products: Revenue from investment advisory, investment funds (Sparinvest, Bankinvest), investment accounts, and pension products.
4. Insurance Intermediation: Commission from insurance products offered through partners Købstædernes Forsikring and Nærpension.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels7 records

Core offering

FasterOikos is a Danish cooperative bank (andelskasse) offering full-service retail and business banking including deposit accounts, payment cards, mortgage and consumer loans, business lending and leasing, savings and investment funds, pension products, insurance intermediation, and digital banking channels (netbank and mobilbank). The institution serves private individuals, families, small and medium businesses, and the agricultural sector, with personal advisory relationships supported by branch offices in Skjern and Copenhagen.

Product overview

FasterOikos is a Danish cooperative bank (andelskasse) offering a comprehensive suite of banking products for both private and business customers. The product portfolio includes daily banking (accounts, payments, cards), lending (mortgages, car loans, business loans), savings and investments (pension products, investment accounts, sustainable investments), insurance (through Købstædernes Forsikring and Nærpension partnerships), and digital services (netbank, mobile bank, Young Money app for children's financial education). Business offerings include leasing through Partnerleasing, business investment accounts, company pensions, and Mastercard Business cards. The bank emphasizes personal advisory services and community values, operating primarily in the Ringkøbing-Skjern area with a secondary location in Copenhagen.

Differentiator

Problem solved

Functional benefit

Products and services

• Young Money Digital allowance and savings platform for children and youth aged 7-17, with a mobile app that enables balance tracking, savings goals, parental controls, and financial education through tasks and money management.
• Visa/Dankort Dual-network payment card combining Dankort reliability in Denmark with Visa's global acceptance for purchases and cash withdrawals worldwide.
• Mastercard Standard Debit Debit card for worldwide payments and cash withdrawals limited to account balance, with optional geographic security controls.
• Mastercard Standard Kredit Credit card with up to 42 days interest-free credit and included travel insurance, with optional family card option.
• Mastercard Guld Kredit Premium credit card with up to 50,000 kr interest-free credit and included travel insurance.
• Mastercard Business Business debit and credit cards (Standard Debit, Standard Kredit, Guld Kredit) for business expenses with expense tracking and global acceptance.
• Investeringskonto FRI Flexible investment account for private customers with automated investment in accumulating funds matching risk profile and time horizon.
• Investeringskonto FRI Erhverv Business investment account for investing company surplus with automated investment in accumulating funds matching risk profile.
• Bæredygtig investering Sustainable investment products in partnership with Sparinvest and Bankinvest focusing on UN Sustainable Development Goals and ESG factors.
• Ratepension Pension savings with fixed monthly payouts over 10-30 years, tax-deductible contributions, and investment options.
• Aldersopsparing Pension savings with tax-free withdrawals as lump sum or installments, flexible contribution limits based on years to retirement.
• Livrente Lifetime annuity providing fixed monthly payments for life, administered in partnership with AP Pension.
• Forsikringer (Købstædernes Forsikring) Insurance products including home, contents, accident, children's accident, car, and salary insurance through Købstædernes Forsikring partnership.
• Forsikringer (Nærpension) Insurance products through Nærpension partnership including life insurance and disability coverage.
• Erhvervslån Business loans for investments, equipment, or daily operations with flexible solutions tailored to business needs.
• Firmapension (Nærpension) Company pension for self-employed and small businesses with up to 4 employees through Nærpension partnership.
• Leasing (Partnerleasing) Business leasing for various assets through Partnerleasing partnership, freeing up liquidity with flexible monthly payments.
• Digitale Kort Digital wallet integration enabling Apple Pay, Google Pay, and MobilePay payments with FasterOikos cards.

Quantifiable outcome

• Over 100 refugee families helped with banking access
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Partnerships

15 partnerships are on record, tiered core and minor.

• Mwangaza LightcoreStrategic or Co-development PartnerCSR partnership in Kenya focused on green transition and poverty alleviation. Supports Change Agents selling solar products in rural communities, educating families on replacing petroleum lamps with affordable solar solutions.
• PartnerleasingcoreChannel Partner/ Reseller/ DistributorLeasing partner founded by 15 financial institutions and one insurance company. Provides flexible leasing solutions for business assets through 2,500 advisors network.
• NærpensioncoreChannel Partner/ Reseller/ DistributorPension partner offering firm pension (firmapension) for self-employed and small businesses with up to 4 employees. Provides comprehensive pension and insurance solutions.
• Købstædernes ForsikringcoreChannel Partner/ Reseller/ DistributorInsurance partner offering home, contents, accident, car, and salary insurance products. Customer-owned insurance company with 260+ years of history.
• AP PensioncoreTechnology or IntegrationPension administration partner for livrente (life annuity) products. Provides secure and experienced pension management.
• SparinvestcoreChannel Partner/ Reseller/ DistributorInvestment partner providing sustainable investment products focused on UN sustainable development goals. Offers ESG-focused investment opportunities.
• BankinvestminorChannel Partner/ Reseller/ DistributorInvestment partner for sustainable investment products.
• WorldlinecoreTechnology or IntegrationPayment solutions partner providing payment terminals, online checkout, and acquiring agreements for business customers. Offers unified payment solution without hidden fees.
• Nokas/KONTANTENcoreChannel Partner/ Reseller/ DistributorCash handling partner providing nationwide ATM network for cash withdrawals and deposits. Offers 24-hour access to cash services through partnership with multiple financial institutions.
• Loomis NemValutaminorChannel Partner/ Reseller/ DistributorCurrency exchange partner for travel currency ordering with delivery to local pickup points.
• Dankort Øremærket (with Den Danske Naturfond)coreStrategic or Co-development PartnerEnvironmental partnership where Dankort and FasterOikos each donate 1 øre to Den Danske Naturfond for each Dankort transaction, supporting wild nature conservation in Denmark.
• FinklusivcoreStrategic or Co-development PartnerFinancial inclusion partnership helping refugees and underserved populations gain access to basic banking services, enabling self-sufficiency and economic freedom.
• Finans DanmarkminorOthersIndustry association providing banking regulations, switching guidelines, and industry standards.
• OikosfondenminorOthersFoundation supported by FasterOikos as part of cooperative banking values.
• StrømmestiftelsenminorOthersInternational development organization supported for poverty alleviation work.

Scale indicators6 records

Recent moves8 records

Expansion highlights6 records

Emerging players

• Lunar: Danish digital challenger bank/neobank offering mobile-first retail banking, cards, and payments. Competes with FasterOikos for the same Danish retail customer base but via a digital-only model rather than relationship-based advisory.

Broad incumbents

• Nykredit: Major Danish financial services group focused on mortgage lending, banking, and wealth management. Overlaps with FasterOikos's mortgage and investment offerings but at substantially larger scale.
• Jyske Bank: Major Danish universal bank offering the full suite of banking, mortgage, investment, and insurance products. Overlaps with FasterOikos's product offering but at much larger scale and broader geographic reach.
• Danske Bank: Denmark's largest bank with comprehensive retail, corporate, and wealth management services. Overlaps with FasterOikos in core banking products but operates at national scale across all of Denmark.

Direct peers

• Spar Nord: Danish regional bank with a multi-branch model serving retail and SMB customers across Denmark. Comparable geographic and segment focus, though larger scale than FasterOikos.
• Nordjyske Bank: Danish regional bank with community roots and retail/SMB lending focus in Northern Jutland. Directly comparable as a Danish regional bank with relationship-based customer model.
• Djurslands Bank: Small Danish regional bank headquartered in the Djursland area with similar retail and SMB banking focus. Comparable as a small-scale Danish community bank.
• Ringkjøbing Landbobank: Danish regional bank also headquartered in the Ringkøbing-Skjern area with strong agricultural and SMB lending focus. Highly comparable due to overlapping West Denmark geography, customer segment mix, and relationship-driven retail/SMB banking model.
• Arbejdernes Landsbank: Denmark's largest cooperative-owned bank with a similar andelskasse-style ownership philosophy. Comparable as a customer-owned cooperative bank serving retail customers with personal advisory and full-service banking products.
• Lollands Bank: Small Danish regional bank focused on retail and local SMB customers in the Lolland-Falster area. Comparable as a small-scale Danish community banking institution.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/fasterandelskasse
• LinkedInlinkedin.com/company/fasteroikos
• Instagraminstagram.com/fasteroikos

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 FasterOikos