Danske Bank's CEO sees app as competitive edge - paper

HELSINKI Mon Jan 13, 2014 6:03pm IST

General view of branch of Danish finance institute Danske Bank in Copenhagen, November 5, 2013. REUTERS/Fabian Bimmer/Files

General view of branch of Danish finance institute Danske Bank in Copenhagen, November 5, 2013.

Credit: Reuters/Fabian Bimmer/Files

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HELSINKI (Reuters) - Danske Bank (DANSKE.CO) holds a competitive edge because it is the only Nordic bank with a single technological platform, enabling it to distribute new services from one country to another, its chief executive said.

"We are planning to use the digital offering as our number one competitive edge in every direction," Thomas Borgen said in an interview in Finnish business daily Kauppalehti on Monday.

More than 920,000 Danes have downloaded the bank's mobile payment service MobilePay, which was launched in May 2013.

Borgen said he believes technology offers endless possibilities for a bank as cash is predicted to almost disappear within 5 to 10 years.

"We at Danske Bank must take a similar role to Steve Jobs' Apple (AAPL.O) in offering easy-to-use banking applications. The aim is to be the number one in Nordics," Borgen said.

Borgen reiterated that he expected a dividend could be paid this year.

(Reporting By Jussi Rosendahl, editing by Teis Jensen)

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