Danske Bank invests in finance app Spiir

Danske Bank has announced its multi-million investment in Danish account aggregation and money management app Spiir

Danske Bank invests in finance app Spiir

The bank reported that the investment was part of its continued work to meet the requirements of PSD2. It will also support the bank in finding new partners to make day-to-day finances more seamless for its customers.

Spiir was founded in 2011, and now more than 200,000 Danes use the app to help them manage their budgets, monitor their spending and find less expensive alternatives for their fixed expenses.

The bank will now have access to Spiir’s technical platform. The app has already set up its own Nordic API Gateway.

Rune Mai, CEO of Spiir, commented: “With Danske Bank to back us, we now have the opportunity to accelerate the development of both Spiir and Nordic API Gateway.

“The partnership represents a benefit for consumers because they can use their data where it makes sense, but also for businesses, where one can, for example, imagine liquidity management or accounting solutions that automatically perform reconciliations with a bank.”

Danske bank added that in the long term this new partnership and Spiir’s technical platform open up new opportunities, such as helping customers to manage bills, more automated budget control and more support in saving money.