Finanswatch: Cognizant’s Country Manager for Denmark Says Mobile Payment Solutions can Become a Data Goldmine for Danish Banks

“Both internationally and in Denmark, banks and other digital players are struggling hard to dominate the market for mobile payments, although not crystal clear how they are going to monetize it,” says Thomas Djursoe. Excerpts:

“The payment solution “Mobile Pay” from Danske Bank has quickly become a darling amongst the Danes with more than 2 million users having downloaded the app.

It is important for banks to be winners in the mobile payments sector, which only can be done by living up to the demands of the consumers.

It is the big tech companies that are the real threat. One of the reasons for this is that these companies have great experience in making products that are easy to use.

If banks are ready to make use of analytics and set up a platform, where they can access data and also structure it, and if they can analyze data in the right way, all this information can be used to create even better payment solutions.”

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