Saxo Bank is a Danish investment bank that specializes in online trading and investment. It was founded as a brokerage firm in 1992 by Lars Seier Christensen, Kim Fournais, and Marc Hauschildt. The company functions as an online broker with a bank license, without offering traditional banking products. It has clients in 180 countries and has a daily average turnover of approximately US$12 billion. Saxo Bank is known for its success in online trading and investment and has received a number of awards. Domestically the bank is also known for its two founders who are often outspoken on Danish politics. It has launched several white-label partnerships with banks such as Standard Bank, Old Mutual Wealth, Banco Carregosa and Banco Best.