Saxo Bank Unites with Industry Group to Foster Cooperation and Expansion within the Financial Sector
Saxo Joins the Platforms Association in Pursuit of Industry Collaboration
In a significant move for the digital platform ecosystem, Saxo, a global online trading and investing platform, has become a member of the Platforms Association. Established in September 2024, the Platforms Association represents UK investment platforms offering services such as ISAs, personal pensions, general investment accounts, financial adviser tools, and support.
The Platforms Association aims to improve the experience of advisors and investors, address evolving platform requirements, and promote operational efficiency. It also seeks to enhance knowledge-sharing, raise industry standards, and coordinate efforts around market expansion and emerging technologies.
Saxo's involvement in the Platforms Association is seen as significantly strengthening their collective voice. The Association champions best practice and collaboration across the ecosystem, and its focus includes distribution and Managed Portfolio Services (MPS).
Andrew Bresler, CEO at Saxo UK, expressed his excitement about working with fellow members of the Platforms Association, stating, "We are thrilled to join the Platforms Association and contribute to the ongoing efforts to drive innovation, collaboration, and standardisation within the digital platform ecosystem."
The move comes as Saxo has experienced a 132% year-on-year increase in new global trading clients, with the UK seeing growth among younger investors. Under-25s now account for 15% of new sign-ups, up from 9% in 2023. Additionally, the share of new female clients at Saxo in the UK has tripled year-on-year.
The Platforms Association provides a constructive forum for dialogue with policymakers and regulators, ensuring that the voices of its members are heard in shaping the future of the industry. However, in this announcement, the Association did not specify any particular benefits or changes for Saxo as a member.
Saxo joined the Platforms Association in September 2024 as the first European company in the platform industry to support collaboration, standards, and innovation within the digital platform ecosystem. The refreshed pricing model and the launch of Saxo's Flexible ISA have contributed to this increase in new clients, further solidifying their position in the industry.
The Platforms Association strengthens industry cohesion by improving advocacy, promoting consistent messaging, and driving strategic communications across the sector. As a member, Saxo looks forward to working together with the Association to continue shaping the future of the digital platform ecosystem.
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