Geely, Saxo Bank to establish fintech JV in China

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HANGZHOU, Dec. 18 (Xinhua) — Geely Sweden Holdings AB, a subsidiary of Zhejiang Geely Holding Group, and Denmark’s Saxo Bank have agreed to establish a technological joint venture to provide financial and regulatory technology solutions in China.

The new company, which will be an equal 50 percent split between Saxo Bank and Geely, will utilize technologies such as cloud-based financial services, big data and artificial intelligence to provide Chinese financial institutions with full-suite technological solutions.

“We will work hard with a long-term focus to build our business in China and create win-win solutions with partners looking to leverage our technology to support their clients,” said Kim Fournais, CEO and founder of Saxo Bank.

Founded in 1992 and headquartered in Copenhagen, Saxo Bank is a multi-asset trading and investment specialist, offering a complete set of trading and investment technologies, tools and strategies.

In 2018, Geely Holding Group acquired a 51.5 percent stake in Saxo Bank.

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