We are nearing the end of 2018 and we would like to wrap up an eventful year with a few throwbacks to some of the accomplishments.
The year started on a hectic note with the implementation of the MiFIDII regulation. We welcomed the new directive and the increased transparency it creates for our customers. Thank you to all all involved who worked tirelessly on making the implementation as seamless as possible.
In February Nordea Private Banking was awarded the Best Provider of Private Banking Services in the Nordic region by EuroMoney - for the tenth consecutive year! We are obviously very proud of this achievement! A huge thank you to our customers for the trust you place in us!
We have been working with responsible investments for quite some time so when the European Commission in March arranged a conference on how Europe can become a hub for sustainable financing, Nils Bolmstrand, our head of Asset Management, was invited to represent the business perspective. In the words of our CEO Casper von Koskull: “Sustainability is part of everything we do at Nordea. It is about mitigating risks, improving resilience and creating opportunities. It is, quite simply the right thing to do.”
This past year has very much been about offering our customers various new easy payment solutions. Starting in March, we rolled out a payment solution that made it possible to pay with smartwatches from Fitbit and Garmin. There was, as you already know, much more to come on this front.
Also in March, Nordea’s shareholders voted yes to moving into the banking union. Or to the Finnish capital Helsinki, which was the practical result of the vote. As part of the European banking union, we are now subject to the same competitive framework as other European banks.
May 25, 2018, marked the implementation of the new General Data Protection Regulation. The Nordea staff was extensively trained in the GDPR framework and to help us process requests quickly and efficiently we also brought in new virtual colleagues, or robots. The new GDPR replaces an existing directive and strengthens your right to your own data and creates an even stronger data-protection regulatory framework within the EU.
During the year our virtual colleagues continued to expand into new services and new geographical areas, to serve our customers faster and better. We now also have our chatbot Nova, that assists you with banking-related questions, and our savings robot Nora, that helps you start at savings plan quickly and easily. They join the ranks of several other artificial intelligence bots who have already taken over repetitive manual tasks, so that we can free up time for our employees to interact with customers instead.
In June we expanded our offering of Apple Pay to also include our corporate customers holding First Cards. With the addition of Google Pay a few months later, in October, we now also cater to customers owning Android-based devices. This means customers in Nordea are now able to choose from the broadest spectrum of mobile payments services offered by a financial player in the Nordic region. The online-payment universe also got a new contribution in the form of Nordea Connect.
Our Open Banking-platform went live in Finland at the end of last year and in September it was extended to Sweden, making it possible to develop applications for Finnish as well as Swedish customers. We launched the first commercially viable product from this project in December. The Instant Reporting solution is currently available in Sweden and Finland.
In November a group of 28 banks, of which Nordea was the only Nordic bank, announced the six UN Principles for Responsible Banking. The collaboration aims to align the financial sector with the UN Sustainable Development Goals and the Paris Climate Agreement.
A few days later our Corporate & Investment Banking arm was tapped Best Corporate Bank in the Nordics in a Prospera survey. We also happily noted all-time high customer satisfaction scores.
- We are proud to see that the journey we started in 2016, with a change of direction and ambition level, has been recognised by our important large corporate customers. We have worked hard to become much more agile, easy to deal with, intense, coordinated and at the same time maintaining or improving our relevance, says Mathias Leijon, Global Co-Head of C&IB.
And on this note, we wish you a happy new 2019!
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Ultimately, the purpose and vision of our bot Nova is to enable brilliant customer and user experience in banking and beyond.