Nordea recognised for IT innovation

Nordea won a 2017 Global Retail Banker award for its Simplification programme.

Our Simplification Programme was awarded the “IT Innovation of the Year” by Retail Banker International. The awards recognise the best achievements and innovations in the retail banking industry, showcasing pioneering initiatives that have gained ground in the last year and reflect shifting trends in the industry.

Nordea was recognised for “undergoing the largest tech modernisation project” in European banking, investing in core banking and payments platforms. 

Jukka Salonen, Head of Group Simplification at Nordea, received the award on behalf of everyone at Nordea who is working hard to make this transformation a success.

“While we still have a long way to go with Simplification, this award means that the work we are doing to strengthen our core is regarded by our industry as unique, cutting-edge and industry-leading,” says Jukka. 

A truly digital bank

Simplification is part of Nordea’s ongoing efforts to create a truly digital bank by coming together as One Nordea with common processes, products and systems. This digital transformation will consist of four main platforms – a new core banking platform, a new payment platform, common data and customer and counterparty data – that will make us more agile and resilient, enabling us to be a more customer-focused, flexible bank. 

Earlier this year a major milestone was met when all SEPA (Single Euro Payments Area) Credit Transfer payments started running on the new platform and all customer and counterparty data were sourced to a common master solution. The focus is now on implementing the first customer migrations to the new core banking platform. Savings in Finland will be the first to migrate to the new platform.

“This award is a great recognition of the passion, talent and commitment of the people we have in the Simplification programme, which paves the way for our transformation into an end-to-end digital bank of the future,” says Jukka.

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