Incubating ideas with fintechs in Stockholm

Stockholm fintech hub SFH 2017
04-05-17 15:19 | Digital banking

Incubating ideas to hatch innovative solutions can’t be done alone. That’s why we’re teaming up with the Stockholm Fintech Hub (SFH), our latest partnership with a fintech incubator. Nordea is already partnering with fintech hubs in Helsinki, Oslo and Copenhagen.

We’re excited to now be joining forces with the SFH, an office space and hub dedicated to the fintech community, which connects start-ups, financial institutions and regulators. A number of people from Nordea will move into the space, enabling us to collaborate, co-create and converse with fintech start-ups, bigger companies working in the fintech space, other banks and new players like IBM and Microsoft.

Collaborations like this will speed up the time to market so that we can offer new, relevant and valuable solutions to our customers faster than if we were to develop them alone. At the same time, our partnership with the SFH will enable us to contribute to a more entrepreneurial Sweden.

“We don’t yet know exactly what kind of services and benefits the cooperation will bring, but that’s what makes this so exciting,” says Ewan Macleod, Chief Digital Officer at Nordea. “We’re here to learn and see what we can achieve together.”

For Nordea, partnerships are vital to be able to better serve our customers as we tap into an emerging ecosystem of players offering financial services.

A new ecosystem

The fintech ecosystem will include established financial institutions like Nordea as well as start-ups, regulators, educators, tech providers, investors and professional services companies. These are all companies the Stockholm Fintech Hub sees as core to the community and who we see as critical in being able to serve our customers as well as our wider societal and environmental ecosystems. Stockholm Fintech Hub CEO Matthew Argent recently announced the SFH’s intention to support the United Nations Environment Programme to pilot the UN’s 2030 vision for sustainable finance.

To adapt to the changing banking landscape, we need to be open to different mind-sets, inspiring us to continuously take the pulse of our current and future customers. That’s why we’ve opened up our bank. Nordea was one of the first in the Nordic region to announce our open banking developer portal, where fintechs and other external developers are invited to create new products and services. 

During Nordea’s 2017 first-quarter earnings presentation last week, CEO Casper von Koskull said there were some “exciting names” among the approximately 600 users who have pre-registered, including “multinational, global names”. 

He didn’t elaborate, but you’ll be hearing a lot more from us on this front. For now, though, our eyes are on Sweden. “Our message to the Swedish financial services eco-system is: ‘Hello, we are here! We would love to speak to you, so come and find us. We are right here in the Fintech Hub!,” says Ewan.

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