The Danish FSA (Finanstilsynet) has granted a Consumer Finance License for Blue Finance Denmark. The entire Board of Directors and the executive management was also approved fit and proper.
The Danish regulatory framework is extremely strict in order to maintain a high level of confidence in the Danish financing market. The framework includes strict guidelines and recommendations on how the creditworthiness assessment must be conducted and also which 3rd party data sources must be used. Obtaining the consumer finance license is a milestone for Blue Finance Denmark although its granting was expected.
“We’re extremely happy to have been granted this license as one of the first Danish Consumer Lending Companies, as it shows that our company abides by the strict rules set by the Danish FSA. The license is an affirmation of our continuous work of striving to the highest standards in our field”, Nicolai Dam, Country Manager and CEO of Blue Finance Denmark says.
Blue Finance supports rigorous regulation, as it brings predictability to the often-volatile financing markets. The company finds it beneficial for the whole sector to have stable rules in place, ensuring that customers can rely on receiving only the best services available. Furthermore, it is a recognition of the effort Blue Finance puts into being a responsible and trustworthy company, that always carries out an in-dept assessment which ensures that the consumer has the financial capability to fulfill their obligations towards the credit agreement.
For both Blue Finance Denmark as well as the parent company Blue Finance Oy (Ltd), the Consumer Finance License confirms that the companies’ policies, procedures, and processes match the new, strict Danish legislation.
”Having obtained the license, we’re now dedicated to offering our services to our clients with the certainty that our work reaches a high level of compliance with the Danish regulatory framework”, Dam continues.
For more information:
Country Manager & CEO
Blue Finance Denmark