Money Majlis Ep 48. Democratising Finance: Kim Fournais on the story of Saxo Bank and honest capitalism
Money Majlis kicks off 2026 with my predictions for the 6 top trends in banking this year plus a candid, high-energy conversation with one of Europe’s original fintech pioneers: Kim Fournais, founder and CEO of Saxo Bank.
From starting with just a telephone, a fax machine and Euro 70,000 in capital in 1992, to building a global multi-asset trading and investment powerhouse serving nearly 1.5 million clients with over USD 140 billion in assets, Kim’s journey is a masterclass in vision, grit and disciplined innovation. In this episode, Kim explains how a young engineer in Copenhagen spotted the inefficiencies of voice-based trading and decided to put “the whole capital markets business on the internet” years before online trading was mainstream. He recalls sketching his first trading screen on paper, launching Saxo’s online platform in 1998, and convincing a sceptical industry that real-time, transparent pricing and digital execution would define the future of markets.
We talk about Saxo’s evolution from a niche Danish brokerage into a global facilitator of capital markets — a tech-first bank delivering multi-asset, multi-currency, multilingual platforms not only to direct clients, but also to more than a hundred financial institutions through a white-label “banking-as-a-service” model. Kim shares how partnerships, culture and an obsession with the “Saxo experience” have allowed the firm to stay agile even as it scaled, embedding technology into every team instead of isolating IT in a silo. He talks about using AI for years across the value chain, and why the real revolution is a new service model that combines human relationship managers with hyper-personalised, AI-driven insights and digital wealth solutions.
Kim reflects on responsible risk-taking, arguing that common sense, diversification and education must anchor a world where powerful tools are increasingly in everyone’s hands. He warns against the “get rich fast” culture around trading and crypto, stressing that true financial democracy requires informed investors, robust guardrails and long-term, win–win relationships between platforms and clients.
Finally, Kim explains “honest capitalism” through his self-sustaining Danish island, powered by wind, solar, batteries and regenerative farming, which he sees as a microcosm of how capital can create beauty, biodiversity and independence rather than excess. He shares what true wealth means to him – meaningful relationships, health, and purposeful work – and how martial arts, flying turboprops and modern art all shape his mindset as a leader.
Produced by : Poddster
Giving partner : Goodworld
Sponsors : Aquanow, Emirates NBD, Intellect Design Arena, e& Etisalat and Network International
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