With that groundwork laid by the public sector, the financial sector was well positioned to take digitalisation further - among other things supported by efforts of the central bank. The payments market is one part of the Danish financial system that has undergone some significant changes in recent years.
As part of the central bank's catalyst role, modernisation of the payments infrastructure took place between 2012 and 2014. The modernisation entailed an instant payment clearing system. In this system, payments are settled instantly – that is: funds are made available to the payee within a few seconds. This applies 24/7/365.