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Finansforbundet wins international prize

It attracted global attention when Finansforbundet concluded a framework agreement with the newly established Arbejdsgiverforening for fintech (Employer’s Association for Fintech) in the spring. On Thursday 11 November, it also resulted in a prize from UNI Global Union, which encompasses trade unions from 150 countries with a total of 20 million members.

8. Dec 2021
3 min

A huge pat on the back for the historic work was awarded to Finansforbundet in the form of the annual ‘Breaking Through Award’. The breakthrough being rewarded is the framework agreement for the fintech area in Denmark – the first in the world for the field.

President of Finansforbundet, Kent Petersen, calls the agreement “one of the most important things Finansforbundet has achieved for many years”, and others can also see that it is something special that required vision, investments and a long strategic path to reach the goal.

It has already attracted international attention that a framework agreement was entered in the spring between Finansforbundet and the newly established Arbejdsgiverforening for fintech (Employer’s Association for Fintech) in Denmark. This was followed by the award announcement – on Thursday 11 November, the Vice-President of Finansforbundet and the President of UNI Europa Finances, Michael Budolfsen, were invited to Nyon in Switzerland, where he received the award from the association of unions, UNI Global Union.

Fertile ground for growth

The presidency, led by Kent Petersen, is very pleased with the recognition:

“For several years, we have been part of the work to help create fertile ground for an entirely new sector in Denmark, and I am proud that it has resulted in workplaces and growth. Of course, it has also been a goal for us to cultivate the organisation of a new and extremely technologically driven industry, and therefore the framework agreement is an important step from a slightly broader perspective.”

Traditionally, new collective agreements are created when organised employees exert pressure from the inside, but this was not the case for fintech, which is strongly characterised by being international and by individual employees typically having a different and looser connection with their companies.

“Therefore, we had to do things in a somewhat reversed order: We involved ourselves in an area where there are still relatively few members of Finansforbundet, but where we could see potential. And where we now have both a new employers’ association and a new framework agreement.”

And now also a prize. UNI Global Union says in its explanatory statement that it is a recognition that Finansforbundet is the first trade union in the world to have negotiated a national collective agreement for the fintech sector - a sector that is particularly vulnerable to platform work and unregulated working conditions.

“I am both proud and happy about the agreement itself, but also the recognition that comes from the award. We chose to take a new path, because an organised labour market is also highly relevant in 2021 and in industries where technology is a huge factor and where the relationship between employees and employers may be a little different than we’ve been used to. As a trade union, we also have to be part of that reality.”

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