Boosting Effective Core Banking

AQRisk – a specialized Danish fintech boutique – has successfully introduced new solutions to advance banks in better utilizing data, advanced analyses, and optimizing large-scale decision support.

The world of banking is changing rapidly. Emerging new technologies, massive new regulations, the current interest rate environment, and the ever-increasing importance of utilizing data for business benefits – challenge financial institutions. The ongoing sector consolidation will most likely continue and only the most effective banks will prevail long term.

The mission of AQRisk is to support financial institutions of all sizes and shapes in becoming much more efficient and profitable by optimizing large-scale decision support, across critical banking tasks like customer profitability assessments and pricing.

Our solutions clearly apply globally – and the strong validation we have received in the Danish market, allow us to start planning the next phase – the international growth journey. We are looking to team up with one or more strong partners to scale internationally,
Morten Virenfeldt, CEO & Founder AQRisk

Founder and CEO, Morten Virenfeldt, has twenty years of experience from senior quantitative roles in companies such as SimCorp, Danske Bank, and Saxo Bank before founding AQRisk.

AQRisk was founded on the experience and realization that new innovative solutions were required to truly support financial institutions – regardless of size and resources – in better utilizing data, quantitative methods, and modern fintech to optimize the core business.

Multi-solution provider

AQRisk is a multi-solution provider and customers have on average more than two solutions implemented. Every solution solves specific tasks that are critically important and common to most banks globally. The solutions all utilize large data volumes and advanced analyses.

“At AQRisk, we have identified several potential solution opportunities, which will be explored going forward and our current three production solutions are really only the beginning.” Virenfeldt says.

The solutions yield extreme value creation via deep new business insights and more informed decision-making, highly improved profitability, reduced credit losses, better utilization of client potentials, resource optimization via automation, always ready and flexible reporting, as well as stronger standing with the regulatory authorities.

“The business case our solutions provide customers with is overwhelmingly attractive, simply because they help optimize the majority of the revenue base and mitigate primary loss sources.” Virenfeldt says.

High growth and diverse customers

AQRisk went to market with its first solutions in mid-2018. Since then, the company has experienced high growth and is currently providing fintech solutions to 12 financial institutions – including three of the 10 largest banks in Denmark.

“We are proud of the fact that our customers include both large and smaller financial institutions, it shows the broad appeal our solutions have. The many new partnerships are a testament that we provide something unique and highly value-creating to the market.” Virenfeldt says.

The customers of AQRisk are located across all three major Danish cooperative IT datacenters. The solutions are implemented and integrated fully within the IT datacenters, with whom AQRisk works closely. The open architecture of the AQRisk solutions allows for fully embedding AQRisk functionality – e.g. pricing – seamlessly within existing systems.

International journey

Solutions at AQRisk all adhere to criteria that assure they are highly scalable. The solutions target tasks relevant to most banks globally, they are standardized but highly configurable, they have low-barrier implementation, and can be implemented remotely.

“Our solutions clearly apply globally – and the strong validation we have received in the Danish market, allow us to start planning the next phase – the international growth journey. We are looking to team up with one or more strong partners to scale internationally.” Virenfeldt says.