Penneo extends the agreement with Bankdata
Company Announcement No. 30-2022
Copenhagen, 4 November 2022
Penneo announces that it’s expanding the agreement with Bankdata, extending the usage of Penneo Sign to the private customers of Bankdata’s member institutions.
In company announcement No. 32-2021, Penneo announced an agreement to roll out Penneo’s Sign software in the eight financial institutions of Bankdata and in Denmark. Bankdata now expands the collaboration, as Bankdata’s member institutions extend the usage to include signing for their private customers.
The expanded cooperation is of strategic importance and demonstrates execution of the strategy and strengthens Penneo’s position as a market leading Sign solution within financial industries.
Penneo’s CEO, Christian Stendevad, comments on the deal: “The expanded collaboration with Bankdata solidifies Penneo Sign’s market leading position in the financial industry. This is an exciting opportunity, and we look forward to helping Bankdata and their member institutions to provide a modern, improved experience to their private customers.”
The deal does not change Penneo’s ARR guidance for 2022 which continues to be 70-75m DKK (company announcement no. 29-2022).
Bankdata provides IT solutions to the financial sector and is owned by eight Danish financial institutions. Bankdata is one of the largest FinTech companies in Denmark with more than 700 employees.
Further information
CEO, Christian Stendevad
Mobile (+45) 27 29 50 02
About Penneo A/S
Penneo is a provider of Software-as-a-Service (SaaS), and was initially established for the purpose of assisting businesses with digital document signing and digitising workflows. Today, the company has developed into an eco-system of digital solutions which automate work routines within for example anti-money laundering (AML) - a RegTech software that offers businesses an efficient and cost-saving way to comply with legislation.
The original and widespread product "Penneo Sign", which helps customers secure easy online signing of documents, is still continuously developed by the company - while at the same time new products appear, such as Penneo KYC (Know Your Customer) - a product that digitises the work-flows in businesses and contributes to complying with legal requirements in connection with onboarding and identification of customers.
Penneo holds a strong position in the Nordic countries, and in Denmark alone, more than 740,000 persons signed documents electronically with "Penneo Sign" in 2021.
In April 2022, Penneo was listed on Nasdaq Copenhagen following a listing on Nasdaq First North in June 2020. This transition contributes to strengthening the company's focus on European expansion.
For information about Penneo, please visit https://penneo.com/investors