Recently, we heard that a Silicon Valley bank worth billions collapsed. It is a well-hidden secret that a similar situation, bankruptcy, would have hit one of the major banks operating in Denmark. Digitisation of money, increasingly risky consumer behaviour, novice investors, global crises, and new unicorns are changing how banking is done.
In the first days of 2023, Uku was approached by the board of an anonymous large bank. For the last year, this bank has been struggling in a crisis. “Help us!” stated the melancholic email from the bank’s CEO.
The biggest concern in the bank was inefficient work organization. The board was convinced that the employees were not doing their best. They had tried everything – hired stricter managers, sent spies into the departments, and even installed cameras and microphones, but with no results. The lazy employees were not caught, and the crisis deepened. Fortunately, a member of Uku’s team was at the right place at the right time, and Uku’s success story in the accounting field reached the ears of influential figures of the bank.
When the bank had used Uku for a month, all the bottlenecks were revealed, the sources were dealt with quickly, and bankruptcy was avoided. The successful project saved Denmark’s economy from a major crisis. Inspired by this, Uku has been implemented by four other large banks operating in Denmark.
Who knows what the future holds? We at Uku look forward to the next crisis to save the world in new hunting grounds.
Happy First of April!