Nordea wins banking innovation award again

18-05-16 11:40 | Awards and organisational news

The Global Retail Banker awards recognise the best achievements and innovations in retail banking and are considered to be one of the most important awards in the industry. Their aim is to showcase pioneering initiatives that have gained ground in the last year and reflect shifting trends in the industry. At an exciting ceremony held at the Waldorf Hilton hotel in London, Sarah Häger, Head of Open Banking Community, accepted the award on behalf of Nordea and held a presentation about the latest developments in open banking.

The Global Retail Banker awards recognise the best achievements and innovations in retail banking and are considered to be one of the most important awards in the industry. Their aim is to showcase pioneering initiatives that have gained ground in the last year and reflect shifting trends in the industry. At an exciting ceremony held at the Waldorf Hilton hotel in London, Sarah Häger, Head of Open Banking Community, accepted the award on behalf of Nordea and held a presentation about the latest developments in open banking.

Innovation through collaboration

Douglas Blakey, editor of Retail Banker International, says: “In 2017, Nordea launched its Open Banking Portal with the aim of becoming the go-to-hub for banking APIs (Application Programming Interface) in its region. The portal does much more than merely comply with the regulatory requirements of PSD2 (Payments Service Directive 2). It is a future-oriented platform that will provide premium APIs to third party developers and fintechs.”

“The bank built the platform with both external and internal developers in mind because it wanted to foster innovation within the bank as well as through collaboration with third parties. Within 72 hours of launch, it received 300 sign-ups; within a few weeks it had received more than 700.”

“The project strengthens the bank’s goal to continue to be a relationship bank, putting its customers first, strengthening its collaboration with fintechs and going beyond regulatory requirements by providing premium APIs which fit the changing needs of customers across all segments.”

Open for awards

Gunnar Berger, Head of Open Banking, was delighted to see such notable recognition for the Open Banking initiative:

“We were the first ones who took the approach to open ourselves to the entire external developer community and we were pleased to receive more than 1000 applications from external developers already in the autumn last year. We’ve been working intensely with them since and we’re all excited to see the kind of products and services that can be created from this collaboration. We’ve already had lots of feedback so far and this way of working has undoubtedly energised the creative process. The Global Retail Banker award is a recognition of the great team we have in place, the strong support we receive from Nordea’s management and of course the external developers and fintechs that have reacted so positively to this initiative.”

Two in a row

The award follows on from last year’s win for the bank’s Simplification Programme which was given in recognition for “undergoing the largest tech modernisation project” in European banking, investing in core banking and payments platforms.

You can read more about the awards on the Retail Banker International website.

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