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Strategy update: Konsolidator introduces a Banking application

Written by Customer Service on . Posted in Public Companies.

Company announcement no 12-2024

Søborg, August 15, 2024

Strategy update
Konsolidator introduces a Banking application

Konsolidator introduces its newest application, Konsolidator Banking®. This is in line with Konsolidator’s growth strategy, and growth initiatives announced in the annual report 2023. Konsolidator Banking® allows the company to reach a new business segment by leveraging its existing financial consolidation and reporting expertise.

The prioritization of Konsolidator Banking® follows the interest from Danish banks and credit institutions in getting Konsolidator to provide an easy and fast method for banks and credit institutions to prepare consolidated client numbers. Technically, the application builds on the existing consolidation engine. Throughout 2024, Konsolidator has been developing and testing the new banking application using industry experts and feedback from Danish banks.

The first go-to-market version is ready to be launched, and Konsolidator focuses on selling the application in Denmark, followed by the rest of the Nordic countries.

Development cost for the first version of Konsolidator Banking® has been capitalized during 2024.

CEO Claus Finderup Grove comments: ”It is exciting to launch the first go-to-market version of our Konsolidator Banking application and to measure the efficiency it can add to banks and credit institutions around the Nordics. Banking is a new business segment for Konsolidator, but all development has been in close dialogue with industry experts ensuring our approach is sound.”

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About Konsolidator
Konsolidator A/S is a financial consolidation software company whose primary objective is to make Group CFOs around the world better through automated financial consolidation and reporting in the cloud. Created by CFOs and auditors and powered by innovative technology, Konsolidator removes the complexity of financial consolidation and enables the CFO to save time and gain actionable insights based on key performance data to become a vital part of strategic decision-making. Konsolidator was listed at Nasdaq First North Growth Market Denmark in 2019. Ticker Code: KONSOL

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