At Copenhagen Fintech, we’re committed to fostering the growth of fintech scale-ups that deliver real impact in the financial industry, including those offering advanced software solutions to enhance banking operations. Through our new Scaling Innovation series, we highlight our scale-up partners who are transforming the landscape with their cutting-edge solutions. This time, we spotlight Monthio, a fintech company that leverages multiple data sources to construct comprehensive and consolidated financial overviews, enabling financial institutions to make loan approvals smarter, faster, and more accurate!

From Compliance to Value Creation

Founded in 2018, Monthio began by helping financial institutions meet stringent regulatory requirements. However, as the market evolved, so did Monthio’s mission—moving beyond compliance to become a value-adding partner for banks and credit providers.

By leveraging complex Data Products, advanced data analytics, intuitive user dialogue, and other digital sources, Monthio provides financial institutions with a complete and consolidated financial overview of their customer's financial situation, ensuring compliance and a seamless lending experience for the banks’ customers.

Danske Bank: A Strategic Collaboration in Action

A strong example of Monthio’s impact is its collaboration with Danske Bank, which began integrating Monthio’s solution in late 2023. Today, Danske Bank fully embeds Monthio’s technology in its loan approval processes, using it to:

- Automate financial data collection for loan applicants.
- Provide customers with an easy-to-use digital flow for verifying and documenting their income and expenses.
- Deliver advisors a complete, real-time financial overview, improving the accuracy and efficiency of credit decisions.

As Herluf Helt Mølgaard, SVP IT Lead at Danske Bank, describes it:  🗣️"At Danske Bank, we are focused on eliminating friction and unnecessary complexity in financial data processing and transforming complex assessments into a smooth, automated experience - both for our bank customers and our advisors. Monthio's solutions reduce manual work by automating our data collection and ensuring an intuitive and accurate loan approval process. By simplifying our credit assessment journey, we have improved efficiency but also really enhanced the customer experience."

‍Beyond using the solution, Danske Bank also plays a key role in refining Monthio’s product offerings. Through close collaboration, Danske Bank provides valuable feedback and insights, helping Monthio continuously improve its features.

🗣️ “The true power of Data Products lies in the ability to transform overwhelming complexity into seamless, intuitive experiences. At Monthio, we take vast amounts of financial data and distill it into actionable insights—empowering banks to make better decisions faster. This collaboration with Danske Bank exemplifies how deeply integrated, intelligent data solutions can redefine the lending landscape," shares Mads Aarup Pedersen, Founder & CEO at Monthio.

Empowering Consumers through Innovation

‍Beyond supporting financial institutions, Monthio also empowers consumers by designing new tools that help applicants assess their loan eligibility before applying.

Soon, with just a few clicks, consumers can understand their borrowing potential before entering a formal application process. This reduces uncertainty for applicants, improves financial transparency, and helps banks receive more qualified loan applications.

Scaling Across the Nordics

‍As Monthio has become well-established in Denmark, the company is expanding across the Nordics, particularly in Sweden and Finland. With growing demand for their solution and backing from key investors like EIFO, Monthio is well-positioned to scale its impact across Europe.

Another crucial part of their scaling journey is having the right connections and industry support. Through Copenhagen Fintech, Monthio can tap into our network of Nordic banks, fintechs, and investors, helping to accelerate its expansion. Engaging with regional financial institutions can open doors to new partnerships and provide valuable insights into market needs.

‍Additionally, participating in Nordic Fintech Week and other key industry events will give Monthio greater visibility and strengthen their position in the Nordic ecosystem and beyond.

🗣️"Being part of the Copenhagen Fintech ecosystem has already opened doors for us. The networking opportunities and introductions have been valuable in supporting our expansion in Northern Europe," says @Mads Aarup Pedersen, CEO at Monthio.

The Future of Digital Lending is here!

‍Looking ahead, Monthio is focused on continuous product innovation. The company has already developed new features, such as a complete wealth overview—incorporating stocks, pension savings, and debt analysis—to enhance credit assessments further.

With a growing presence in the Nordics and beyond, Monthio is set to redefine how financial institutions approach creditworthiness, making lending faster, safer, and more efficient.

Want to learn more about Monthio? Read more about their story and solutions on their website today!

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