Bankdata reduces member exit fee with 50 per cent

Chair of the Danish Competition Council, Christian Schultz:

Bankdata has committed to change its articles of association by offering commitments which The Danish Competition Council has approved. The Danish Competition Council has decided that the commitments of Bankdata meet the competition concerns of the Danish competition authorities. The Danish Competition Council has not decided on whether Bankdata has infringed competition regulation.

Bankdata is a data center that provides complete IT solutions to its members, at present 8 Danish banks.

The commitments include that Bankdata reduces its exit fee for Bankdata members from 5 times the yearly turnover between Bankdata and the withdrawing member in question to a maximum of 2.5 times the yearly turnover. The commitments will lead to a substantial reduction of the members switching costs.

The Competition Council decision has only been published in Danish. Due to pending confidentiality clarifications, please note that the decision is at present published in a” temporary version”.

For more information, please contact head of communications in The Competition and Consumer Authority, Hanne Arentoft, by phone 41 71 50 98.