Press Release |
December 28, 2020
December 28, 2020
One of the most uncelebrated successes of the Danish technology sector was the meteoric rise of MobilePay. Lately, its former Chairman has been turning his attention to healthcare to find the next Danish growth story.
Growing up in a family full of doctors, it was an obvious choice for Frederik Vinten to pursue a job in healthcare, but his career took him in a completely different direction. With a background in economics, earning a Ph.D. in private equity, Frederik has spent years obsessed with digitizing the financial sector. Despite the common perception that banking is a stagnant industry, it has seen a lot of transformation during the last 5-10 years, with services becoming much more customer-friendly.
One of these pivotal new products was MobilePay, which is now used by more than 4.2 million Danes and 150,000 merchants and executes more than DKK 100 billion in transfers annually, making it one of the most successful financial applications in Europe.
During his time at the Executive Board at Danske Bank, Frederik was responsible for business development and also the Chairman of MobilePay. Here, Frederik among others focused on digitizing and improving the customer experience, especially for lending and payments products – and thus radically simplifying the most mundane but foundational process of the financial sector; the consumer transaction.
According to Frederik, this revolution is bound to happen for healthcare, and he sees similarities between Corti and his work within Financial Services.
"Corti’s product is great, and the timing is interesting - which made it a fantastic opportunity to come on board earlier this year and use my toolkit to help revolutionize healthcare in a completely different way than my family has contributed, but from the same wish to contribute and help patients.”
- Frederik Vinten.
The goal of Corti’s technology is to help simplify patient engagements. As patients have started to experience their lives getting more convenient through technological innovations in other sectors such as banking and hospitality, they are beginning to demand the same from healthcare. The problem is that the budgets of healthcare providers worldwide are under pressure, not least due to COVID-19, so they need to find newer, smarter, and cheaper ways to maintain the same level of service and keep patients happy.
At the core of the patient-journey lies consultations, which is the “transaction of knowledge” between medical professionals and patients. The consultation is as foundational to healthcare providers, as financial transactions are to banks. Here, Corti tries to make it as easy to get a quality pre-diagnosis, as MobilePay has made it for consumers to make transactions and pay their bills.
The beauty of Corti's technology is that you can use it to pre-diagnose anything. Corti’s artificial intelligence has been trained on more than seven million patient consultations, to help ensure quick and convenient access to a highly accurate pre-diagnosis, no matter where you are.
Every year more than 86 billion patient consultations are conducted, and many studies have proven that adding a second opinion to each consultation can radically reduce the risk of misdiagnosis, which today is a multi-billion dollar industry.
"If Corti proves to be successful at scale, accessibility of healthcare will go up dramatically, and they will take the risk of misdiagnosis out of the equation and make extremely costly healthcare systems much more efficient."
– Frederik Vinten.
Frederik has been supporting the leadership team at Corti to pin down the company focus for the next 10 years, helping to define new verticals whilst ensuring that an entrepreneurial mindset continues to be instilled within the company.
Denmark and Scandinavia have an impressive legacy in healthcare, and a solid startup ecosystem, but unfortunately, too few companies succeed in achieving the much sought after unicorn status, especially within healthcare. Frederik sees a big potential for Corti to gain Unicorn status and hopes to play a small part in achieving this and put Denmark back on the global startup ecosystem map.
"Despite coming from a different background, being part of carving that opportunity and realizing this potential is super motivating"
- Frederik Vinten.
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