BEC delivers more IT and strong financial result

BEC Financial Technologies, the largest IT vendor for Danish banks, made significant progress in 2024 towards its new ambition of being the leading fintech integrator for Danish banks.

“On a foundation of secure, stable operations, we have once again shifted resources from operations to the development of new IT solutions in areas such as investment, our advisor universe, and fast, user-friendly loan processes,” says Jesper Nielsen, CEO.

The revenue landed at DKK 2.3 billion, the same as the previous year. The annual result was DKK 157 million due to diligent cost management and several one-off factors.

“We have again ensured our customers a moderate cost development lower than inflation. Additionally, we have achieved a financial result that expands BEC’s financial room to maneuver, giving us room to invest while keeping the billing level to our members stable,” says Jesper Nielsen.

Investment universe among the leading

In 2024, the banks in the BEC community received a stronger product offering in areas such as user-friendly loan processes, property financing, digital channels, and the advisor universe Scoutz 360.

In the digital channels, BEC has significantly elevated its investment universe, which is now among the leading in the Danish banking market, including international leading data and analysis tools from the London Stock Exchange Group (LSEG).

“The partnership with LSEG is an example of how BEC connects globally leading technologies to a modern Danish banking platform. This means that we can bring modern IT solutions to financial institutions much faster,” says Jesper Nielsen.

In 2024, BEC initiated the next phase of a comprehensive technological transformation, which, towards 2027, will simplify and further open BEC’s banking platform to new tech and fintech collaborations

Scoutz expands the product range through new partnerships

BEC’s innovation hub, Scoutz, which BEC and BEC banks created in 2024, is also busy building new opportunities for banks through a series of fintech partnerships.

“Scoutz has been created to develop simple, intuitive solutions. Good examples of this are customer meetings with &money, a new marketing platform from Salesforce, the use of artificial intelligence, business data from Lasso X directly in our advisor universe – and one of the most user-friendly and efficient credit processes together with Subaio and Festina Finance,” says Jesper Nielsen.

More development power and flexibility with Accenture

To focus BEC’s own efforts on new fintech, BEC entered a comprehensive strategic partnership with Accenture in 2024, which will handle about 16 percent of BEC’s banking platform.

This is historic for BEC. For the first time ever, we are outsourcing the development of several of our existing IT platforms to a partner that brings significant development power and flexibility,” says Jesper Nielsen, highlighting that BEC can also quickly pull additional resources from Accenture.

More efficient operations through outsourcing to JN Data

BEC has also become more efficient by outsourcing significantly more operational tasks to JN Data:

“Synergies have already been created in the tasks that were transferred, and opportunities for greater economies of scale are being created for the benefit of everybody in JN Data,” says Jesper Nielsen.

Download BEC’s annual report 2024.

At the same time as the annual report, BEC publishes for the 11th year in a row an independent CSR report that explains our social responsibility, talks about, among other things, our work with ensuring diversity and inclusion in the workplace, getting involved in the local community and minimizing our environmental impact.

Download BEC’s CSR report 2024.