Beyond a bank: A deep dive into the complex tech landscape of Nordea

The banking industry is constantly evolving and must remain “always running”. Without seamless and secure financial services, our society and daily lives would regress. Banks like Nordea play a crucial role in allowing people to focus on moments that matter to them and achieve their dreams. A lot of systems and people work behind the scenes, making everything work seamlessly without anyone noticing. 
 

As John Van Uden, our new CTO with 25 years of experience, notes, "The impact we can have is huge. As a Nordea customer, when I moved to Finland from the UK, I secured a house mortgage in just 30 minutes, which is incredible yet complex to enable." 

 

The Old and the New: Like a 100-Year-Old House in Need of Constant Maintenance 
 

John compares modern banking technology to a “100-year-old house,” blending historic charm with modern upgrades. Jakub Baginski, Head of Wealth Technology, explains: “Nordea is a large bank with over a century of history. We've grown through acquisitions, inheriting a multitude of systems. It's like inheriting more and more rooms, sheds, and extensions to the house.  
 

Just like an old house, some parts are outdated, requiring significant upkeep, while others are brand new with cutting-edge tools. “Over time, new technologies have been added—a window here, a modern gadget there. Some rooms are equipped with the latest tech, like Apple TVs and AI speakers, while others need renovation or are best avoided,” John explains.  
 

At Nordea, this metaphor holds true. Managing core systems and integrating new technologies is crucial for progress. “Like an old house, balancing modern tools with traditional systems is key,” says John. Both Jakub Baginski and Tanja Olsen, Head of Credit & Collateral Technology, with over 20 years of experience at Nordea, agree that managing thousands of systems requires significant expertise. Jakub adds, “Maintaining these systems is challenging, as fixing one issue can create another.” 

 

Managing complexity 
 

Tanja notes that the complexity isn’t just technological. “The bank is ALWAYS RUNNING. It’s like changing a car’s engine while it’s still running, ensuring smooth operation and improvements” she says.  
 

The banking domain involves complex business processes and risk management. As digital banking, fintech, and AI technologies advance, regulatory frameworks must adapt to keep pace with innovation. Compliance is not just a legal obligation but essential for maintaining trust and integrity in the financial system. Nordea navigates a labyrinth of local and international laws, standards, and guidelines, ensuring robust security measures and adherence to regulations while innovating and updating technology. 
 

While relying on the Mainframe for their reliability and robustness, Nordea is also integrating new technologies like Cloud and AI to enhance capabilities. John notes, “This balance ensures no critical systems are left behind.” Development tools and integration platforms like Kong and Confluent Kafka support our data flow. Tools like Jenkins, automate testing and deployment, enables rapid and reliable software releases. DevOps practices and continuous integration/continuous deployment CI/CD pipelines, along with AI-assisted tools, ensure high-quality software and innovation. 
 

John adds, “Our technology is solid. While traditional systems are crucial, having Europe’s largest Kubernetes cluster is exciting!” He stresses, “We invest in each tech, and we help engineers embrace new ways of working too.” Tanja emphasizes the value of long-term employees and international industry experts, who bring a wealth of experience to benefit our customers. Understanding both the banking domain and technology is crucial, making individuals with this dual expertise invaluable.  

 

Strategic Renovations 
 

Our approach to modernising our tech landscape is strategic and systematic. We need the best talent to both renovate and innovate, ensuring every system component gets the attention it needs. By standardising certain aspects and aligning our teams, we create a cohesive environment that supports our goals. 
 

“We deploy our employees in each and every room. Renovating within their scope and giving them the tools and knowledge that they need,” mentions John. 
 

Initiatives driven by Technology Excellence & Innovation promote systematic improvements and foster a culture of innovation. Senior representatives and delivery leads collaborate to share insights, identify successful strategies, and implement new ways of working across the organisation. 
 

Tanja adds, "Our commitment to balancing old and new technologies to create great customer experience through efficient, targeted and innovative solutions, make Nordea an inspiring and fun place to work". 
 

As Nordea continues to evolve, its strategic focus on modernisation and innovation will enable it to meet the challenges of the digital age, maintaining its role as trusted and reliable partner for its customers and employees.   
 

Nordea is a place where traditions meet tomorrow. We’re a place for techies who are eager to take on these challenges of modernising and securing banking technology seamlessly.