How Nordea is transforming digital wealth experiences

The Nordics have a remarkably strong tradition of long-term investing compared to European averages. Swedes hold 45% of their financial assets in pension funds compared to an EU average of just 18%, and 11% in equities – nearly double the 6% EU average. This strong investment culture influences Nordea’s strategies to cater for a diverse range of investors.

”Many of us already invest, but we all have different preferences and needs. We need to understand and adapt to this when serving millions of Nordea customers every single day,” Johan Borg explains.

”Today, we’re serving families seeking long-term stability through pension savings, entrepreneurs looking to optimise their excess liquidity and seasoned investors striving for the best possible return on their portfolios. This diversity is why we exist as a bank: to meet people where they are and to enable their dreams and aspirations.”

Branch office visits and heavy paperwork  

For Johan Borg – who has worked in the banking industry for more than 20 years – wealth management has undergone a radical shift, making investing much more accessible.

”When I joined Nordea, the internet was still young, and most people managed their savings by visiting a branch office,” he says. ”If you wanted to invest, it meant sitting across a desk and filling out forms just to buy an equity.”

”During that era, the state played a central role in shaping savings behaviours through pension systems, subsidised schemes and tax incentives. Customers had limited choices, and banks primarily focused on encouraging people to save in first place,” he adds.

“As technology has advanced and markets have been liberalised, customer expectations have evolved to demand greater choice, transparency and control,” Johan Borg highlights. The Nordic region has responded with innovations like tax wrappers – investment accounts that make investing easier and more accessible, eliminating the heavy paperwork and tax complexity of the past.

Nordea in your pocket 

“Today, Nordea serves millions of customers through every stage of life, combining the scale of a big bank with the agility of being a digital leader. We have put the bank in the customers’ pockets, providing 360-degree views of wealth across savings, pensions, loans and investments, using data and direct feedback from our customers to understand their needs and how to improve our services. But while technology has changed the way we save and invest, the need for trust and guidance has only grown stronger, and that is where Nordea comes in,” he says and elaborates:

”Customers log in daily, track their investments in real time, trade and receive insightful guidance based on their financial situation. It’s a fundamental shift in how people relate to savings – and what they expect from their bank. We have become an essential part of our customers’ everyday lives and they expect us to be there to guide and support them in making smart investments for their future.”

Balancing the complexity

To build on this momentum, the bank is currently piloting an AI-powered investment news summary – a first example of how AI can help us engage customers in their savings. It transforms the flood of financial news into personalised, concise insights – tailored to each customer’s context and holdings. The goal is to make investment insights simple, relevant and instantly useful. 

As the first small steps with AI have already been taken, the immediate question is: what’s next for the experienced banker? 

”If my 20 years have taught me anything, it’s that change never slows down, rather the opposite. Hyper-personalisation and AI will transform digital savings and how we interact with our customers, and customers will expect seamless guidance across every life stage from us. And above all, trust will remain the foundation,” explains Johan Borg and concludes:

”Today, we can personalise your savings experience. Tomorrow, we will serve each of you in a way that is truly unique, at every stage of your life. But as proud as I am of our progress, I’m also humble. The biggest challenge in digital wealth management is balancing the complexity of savings and investments with simple, intuitive user experiences that are relevant to all our customers’ daily lives.”