Danske Bank is deepening its use of Xceptor’s data automation tools, extending the collaboration to include reconciliations alongside its existing use of the platform for tax processing. The move marks a broader application of automation and generative AI across the bank’s post-trade operations, according to a press release.
The two firms have worked together since 2021, initially focusing on streamlining tax reclaims. That scope has now widened as Danske Bank looks to reduce manual workloads and improve processing efficiency across more functions. According to Xceptor, its platform is being used to support data-heavy processes such as reconciliations and compliance with country-specific tax requirements, including recent German e-filing obligations.
Danske Bank is positioning the expansion as part of its long-term “Forward 28” strategy, which includes digitisation and automation initiatives aimed at strengthening its regional market position. The strategy puts a strong emphasis on operational efficiency and scalability across the bank’s services.
automate tax workflows
Michael Holmgaard Mortensen, managing director for Markets Post Trade Services & Markets Quants at Danske Bank, said the initial implementation in tax workflows had paved the way for broader adoption. “We are now ready to advance to the next phase,” he said in a statement published by Xceptor. “By leveraging Xceptor’s platform and generative AI, we aim to enhance our offerings and customer service, now with a focus on reconciliations.”
The bank recently applied Xceptor’s tools to automate tax workflows in line with Germany’s e-filing requirements, a move the company says has improved speed and accuracy while reducing risk. These gains are now expected to extend to reconciliations, where automation can help tackle growing volumes and regulatory complexity.
