Today’s news / New system eases bank switching for customers
Finance Denmark expects that eBank Switch will be fully rolled out within a "few months". The system includes all financial institutions in Denmark. (Archive photo). Photo: Torben åndahl/Ritzau Scanpix

New system eases bank switching for customers

Danish banks roll out eBankskifte, a system designed to facilitate easier bank switching for customers, according to Finans Danmark. eBankskifte allows for the automatic digital transfer of necessary information with customer consent, thereby reducing paperwork. Ane Arnth Jensen, acting CEO of Finans Danmark, states that this will simplify comparing offers and possibly transferring banks. Current banks will not be notified when information is requested by a new bank, and data will be deleted if a switch does not occur. An investment of DKK 250 million has been made in eBankskifte, with the intent to streamline not only the customer experience but bank operations too. The system is expected to be fully deployed across all Danish financial institutions within a few months.